Electronic Skin Patch Market Size, Share and Growth Analysis

Updated on : October 22, 2024

Electronic Skin Patch Market Size & Growth

The Electronic Skin Patch market size was valued at USD 15.0 billion in 2024 and is estimated to reach USD 27.0 billion by 2029, growing at a CAGR of 12.5% between 2024 to 2029.

The growth of electronic skin patches market is driven by the Surging demand for remote health monitoring solutions, Rapid advancements in flexible electronics, sensors and wireless technologies, growing awareness about early disease detection, and rising geriatric population.

Electronic Skin Patch Market Forecast to 2029

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Electronic Skin Patch Market Trends and Dynamics

Driver: Surging demand for remote health monitoring solutions.

The healthcare industry is adopting a new approach to monitoring through remote patient monitoring (RPM). This method involves monitoring patients’ health outside of traditional clinical settings, offering benefits for patients and healthcare providers. Electronic skin patches are emerging as a game-changer in this area due to their comfortable and advanced sensing capabilities. They play a critical role in managing chronic diseases, post-operative care, and eldercare, allowing healthcare providers to remotely monitor patients’ health status and intervene proactively, if necessary. Electronic skin patches are designed with integrated glucose sensors, which can continuously monitor blood sugar levels in real time. This data is valuable for diabetic patients to manage their condition effectively, adjust insulin doses as needed, and prevent complications, such as hypoglycemia or hyperglycemia. Companies, including Dexcom and Abbott Laboratories, have developed continuous glucose monitoring (CGM) systems that utilize electronic skin patches, contributing to the expansion of the electronic skin patch market share.

Restraint: Data privacy and security issues

The electronic skin patch market holds immense potential for revolutionizing healthcare. However, concerns about data security and privacy pose a significant hurdle to widespread adoption. These patches collect sensitive health data, making robust security measures crucial for user trust and market growth. Electric skin patches collect a range of personal health data, including heart rate, blood sugar levels, and even brain activity. This data can reveal intimate details about a person’s health. Therefore, it is paramount to secure its storage and transmission to prevent cybercriminals from exploiting vulnerabilities.

Opportunity: Rising emphasis on improving accuracy of health monitoring patches

The electronic skin patch market share is expanding with the emergence of new and innovative skin patches aimed at a range of health conditions and functionalities. These patches offer solutions to a broader spectrum of health concerns, appealing to a larger audience. By diversifying their applications, electronic skin patches cater to various demographic groups and medical needs, increasing the potential customer base and driving the electronic skin patches market. Advancements in skin patch technology have led to enhancements in their functionality and user experience. These patches boast increased accuracy and reliability in data collection, continuous monitoring capabilities, and non-invasive, painless application methods. In October 2023, BioIntelliSense unveiled the BioSticker+, a health monitoring patch with improved accuracy for temperature, heart rate, and respiration monitoring. This patch boasts a comfortable design and extended wear time up to 7 days..

Challenge: Data overload and limited processing power

Electronic skin patches are designed to collect real-time data on various parameters, such as heart rate, blood pressure, temperature, and humidity. These patches continuously monitor physiological and environmental factors, generating streams of data that require rapid analysis and interpretation. However, e-skins typically rely on off-patch processing units for data analysis, which presents various limitations. For instance, continuous wireless data transmission significantly increases power consumption, leading to a shorter battery life. Additionally, it introduces latency, which hinders real-time applications, such as critical health parameter monitoring. Transmitting sensitive bio-signals also raises security concerns regarding data interception. Managing such vast quantities of data in real time poses a considerable computational burden, especially considering the limited processing power available within the small form factor of an electronic skin patch.

Electronic skin Patch Ecosystem

Electronic Skin Patch Market Segmentation

The market for Monitoring & Diagnostics segment to hold largest market share during the forecast period.

Monitoring & Diagnostics accounts for major share in the electronic skin patch market in the forecast period. With conditions, such as stroke and heart failure, projected to skyrocket, innovative monitoring technologies become paramount. These systems offer real-time insights, enabling timely interventions and improved patient outcomes. The American College of Cardiology predicts significant increases in cardiovascular risk factors and diseases in the US by 2060. Stroke and heart failure are expected to see the highest percentage increases, 33.8% to 15 million and 33.4% to 13 million, respectively, from 2025 to 2060. As the prevalence of heart-related conditions continues to climb, there will be a heightened demand for continuous monitoring and innovative interventions to safeguard patient well-being and mitigate the escalating burden on healthcare systems, driving the demand for electronic skin patches.

Connected segment to grow at the highest CAGR in the Wireless connectivity in the electronic skin patch market during the forecast period.

The prevalence of cardiovascular diseases (CVDs) and diabetes has been steadily rising, contributing to a growing need for continuous monitoring solutions, accelerating the market for connected electronic skin patches. The 2023 World Heart Federation (WHF) highlights a concerning global trend of cardiovascular disease (CVD), revealing a 60% surge in CVD deaths over the last three decades. According to the American College of Cardiology Foundation, global death counts due to CVD increased from 12.4 million in 1990 to 19.8 million in 2022. As per the International Diabetes Federation (IDF), approximately 537 million adults aged 20–79 will be living with diabetes in 2021, with this number expected to rise to 643 million by 2030. This increasing burden underscores the importance of effective monitoring to manage and mitigate the risks associated with these diseases.

Diabetes Management segment in application to the highest market share of the electronic skin patch market during the forecast period

Increasingly sedentary lifestyle, obesity, and an aging population are some of the factors that escalates the demand for innovative solutions in diabetes management. Electronic skin patches offer a promising avenue for addressing the unique needs of diabetic patients. With advantages, such as targeted drug delivery, convenience, and reduced side effects, these patches are poised to revolutionize diabetic care. Increasing diabetes awareness, rising healthcare expenditure, and a strong emphasis on patient-centric care further fuel this growth trajectory.

Healthcare segment in application to the highest market share of the electronic skin patch market during the forecast period

The increasing prevalence of chronic diseases has put significant pressure on hospitals and clinics to find innovative solutions to manage patient care more efficiently. According to the World Health Organization (WHO), chronic diseases are responsible for a large proportion of global deaths, with cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes being the leading causes. These diseases account for approximately 73% of all deaths worldwide, with cardiovascular diseases alone responsible for around 18.6 million deaths annually by 2023. The adoption of electronic skin patches for general patient monitoring is increasing due to a growing focus on preventative healthcare and improved patient outcomes. This trend is driven by the wider adoption of remote patient monitoring technologies and the convenience offered by electronic skin patches.

Electronic Skin Patch Industry Regional Analysis

The Electronic skin patch industry in North America is estimated to account for largest share during the forecast period.

North America includes the US, Canada, and Mexico. The electronic skin patches market is driven with the increase in consolidation of healthcare providers, widespread adoption of clinical device connectivity & interoperability solutions to curtail the rising healthcare costs, and the rise in the number of heat and diabetic patients in the US. Stringent regulations and guidelines, including the Health Insurance Portability and Accountability Act (HIPPA) and Digital Imaging and Communications in Medicine (DICOM), laid down by government and non-government authorities, such as the Federal Communications Commission (FCC) and the Centers for Medicare and Medicaid Services (CMS) contribute to the dominance of this region.

Electronic Skin Patch Market by Region

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Top Electronic Skin Patch Companies - Key Market Players

Major vendors in the Electronic Skin Patch Companies include

• Abbott (US), 
• Dexcom, Inc. (US), 
• Medtronic (Ireland), 
• Insulet Corporation (US), 
• Boston Scientific Corporation (US), 
• Koninklijke Philips N.V. (Netherlands), 
• Biolinq Incorporated (US), 
• Zio By iRhythm Technologies, Inc. (US), 
• GENTAG, Inc. (US), 
• VitalConnect (US), 
• The Surgical Company (Netherlands), 
• Senseonics Ltd. (US), 
• Active Environmental Solutions (Australia), 
• ScottCare (US), 
• VivaLNK, Inc. (US), 
• Bittium (Finland), 
• Cardiomo (US), 
• Seers Technology (South Korea), 
• SIGKNOW (Taiwan), 
• Cortrium (Denmark), 
• Qardio, Inc. (US), 
• LifeSignals (US), 
• Blue Spark Technologies, Inc. (US), 
• Epicore Biosystems (US), 
• HIVOX BIOTEK INC. (US), 
• IontoPatch (US) are among a few emerging companies in the Electronic Skin Patch market.

Electronic Skin Patch Market Report Scope

Electronic Skin Patch Market Highlights

This research report categorizes the Electronic Skin Patch market into Type, Wireless Connectivity, Application, End User, and Region.

Recent Developments in Electronic Skin Patch Industry

• In March 2024, Dexcom, Inc. introduced its latest continuous glucose monitoring (CGM) system, Dexcom ONE+, in Ireland. Leveraging its top-tier sensor design and incorporating user and healthcare professional feedback, Dexcom ONE+ offers an easy-to-use and highly effective CGM experience for individuals managing Type 1 or Type 2 diabetes with insulin. Studies also indicate cost savings for health services treating individuals with Type 1 diabetes.
• In August 2023, Insulet Corporation announced the full market release of its Omnipod 5 Automated Insulin Delivery System in Germany, expanding its availability beyond the US. The UK Omnipod 5, the first CE-marked tubeless automated insulin delivery system, integrates with the Dexcom G6 Continuous Glucose Monitoring System. SmartAdjust technology and a SmartBolus Calculator offer automated insulin delivery to manage glucose levels, enhancing diabetes management for individuals aged two years and older with type 1 diabetes.

Key Questions Addressed in the Report:

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