Electronic Skin Market to cross $16bn by 2026 | Top Players - MC10, Xsensio, Rotex Inc., Renew Health Limited (Intelesens ltd.), Xenoma Inc. and VivaLnK, Inc.

Electronic skin products to witness rapid adoption in cosmetic applications
Over the past few years, electronic skin technology has gained significant momentum. The technology finds a wide range of use-cases on account of its self-healing characteristics and excellent stretching and self-powering abilities. Electronic skin and patches can be used for patients with prosthetics to provide a sense of touch. In addition, the products are increasingly gaining prominence in diagnostic and therapeutic applications.

Global Market Insights, Inc., forecasts that global electronic skin market size will be worth more than US$16 billion by 2026, with rapid adoption in diabetes and cardiac monitoring applications. They find widespread use in health monitoring systems, drug delivery systems, and cosmetics, among other applications.

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Electronic skin patches form an essential component of microcurrent facemasks. Technologically advanced microcurrent facemasks help deliver essential skincare nutrients to the layers of the skin. For instance, DSA aesthetics had developed a microcurrent facemask that acts as a transdermal drug delivery system to enable faster onset of action when required. Cosmetics application segment is projected to witness a CAGR of 14.9% over 2020-2026.

Electro-active polymers, stretchable conductors, stretchable circuits, and photovoltaic systems are different components of an electric skin. Electro-active polymers are generally preferred over conventional electronic wearables owing to benefits such as up to 10 times more battery life, noiseless operation, and ultra-low power consumption. These stretchable polymers that can withstand up to 20% working strain for actuators. Electro-active polymers segment in electronic skin industry will grow at 14.6% up to 2026.

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Electronic skins are generally available as patches or electronic skin suits. Electronic patches product segment is slated to experience a CAGR of 14.8% during the projected timeframe. Electronic patches have the ability to monitor body vitals of an individual in real-time. The product is prominently used fpr health conditions such diabetes, cardiovascular diseases, pregnancy-related problems, fever, and smoking cessation.

Based on the distribution channel, the market is bifurcated into B2B and B2C. B2B segment includes hospitals, cosmetic companies, research institutes, and wearable device manufacturers. Research institutes held about 40% revenue share during 2019. Research organizations worldwide are investing significantly on testing electronic skin products for medical device manufacturers.

Ongoing research activities to explore the future scope of the technology will bolster electronic skin industry outlook. Electrophysiological sensors, chemical sensors, and tactile sensors, among others, are the numerous types of sensors integrated into electronic skins. Considering the type of sensor, tactile sensors segment captured nearly 19% share of electronic skin market in 2019.

These sensors are mainly used in patients with prosthetics to provide them with a sense of touch. However, tactile sensors are only used in electronic skin suits and not in electronic patches which may limit their demand in the near future.

From a geographical perspective, Sweden electronic skin market size is poised to record a healthy CAGR of 15.3% through 2026. This growth can associated with the availability of sophisticated technology resources in the region along with government-funded research activities. The regional government support research on emerging technologies through the National Board for Technological Development, which will foster the regional growth.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.