The growing $7.5 billion market for Electronic Skin Patches
IDTechEx Research has released a detailed update on their bestselling market research report Electronic Skin Patches 2019-2029. Skin patches are arguably the most interesting, diverse and promising category within the entire wearable technology market. The products add value from new electronic functionality directly onto the skin of the user, however, this presents a series of challenges and opportunities to players in the space. With extensive research conducted by leading industry experts over more than a decade around areas such as flexible electronics and wearable technology, the report provides all of the key information required to gain an understanding of the technology, markets and competitive landscape around this dynamic product type.
With coverage across 26 application areas and over 100 companies, historic market data from 2010 - 2018 and market forecasts from 2019 to 2029, Electronic Skin Patches 2019-2029 is the most comprehensive study compiled for this emerging product area. It reveals significant opportunity, with over $7.5bn in revenue made from electronic skin patches in 2018, and a forecast for this to grow to over $20bn per year by 2029.
Addressing the topic of skin patches directly leads to a diverse range of products and target markets within this space. In 2019, the two leading market sectors by far are in the area of diabetes management and in cardiovascular monitoring. Each of these spaces has grown over the last decade to generate billions of dollars in revenue per year for the companies involved. However, in each of these spaces, success is not guaranteed; leading players in each space have deployed occasionally contrasting commercial strategies in order to maintain and increase their overall revenue and market share. The IDTechEx Research report contains detailed, lengthy chapters, including descriptions of the product landscape (including competitive product types, regulatory implications and so on) and technology options, profiles and interviews with leading players, historic market data and market forecasts for each.
However, there are also a much longer list of other types of electronic skin patch product, including medical patient monitoring (both inpatient and outpatient), motion sensing, temperature sensing, drug and cosmetic delivery patches, smart bandages for wound care and more. Each area is addressed in a separate chapter, discussing the current scenario with historical context, case studies, company profiles and forecasts.
The product category of "electronic skin patches" conceals a significant amount of diversity. Whilst many people may imagine skin patches to be thin, highly conformable devices that sit close to the skin, the reality is that many of the most successful products today are still relatively bulky devices. As such, the report also contains a discussion of technology areas relevant to the future development of smart patches, particularly around areas such as flexible, stretchable and conformal electronic components. Development of these technologies will not only enable more products to be deployed
as skin patches but will also lead to improvements in the form factor of electronic skin patches that already exist.
IDTechEx Research is afforded a particularly unique position in covering this topic. The experienced analyst team builds on decades of experience covering emerging technology markets, and particularly areas such as flexible electronics which are central to electronic skin patches. IDTechEx also organizes leading industry conferences and exhibitions covering flexible and wearable electronics. With a combined total of over 6000 delegates each year and presentations from all of the leading players in these spaces, IDTechEx Research has the unique ability to curate a network in these topic areas, facilitating the reporting in this report.
To learn more about this topic visit the upcoming event Healthcare Sensor Innovations 2019 Enabling point of care diagnostics and continuous monitoring. Healthcare Sensor Innovations 2019 is a conference and exhibition focusing on the technologies and applications of medical wearables and sensors. Curated by IDTechEx analysts, the two-day conference will consist of over 30 speakers from companies developing or utilising wearables and sensors in healthcare.
Top image: University of Illinois