Global Electronic Skin Patches Market to Grow at a CAGR of 17.22% Dduring the Forecast Period

Based on the new market intelligence published by BIS Research titled “Global Electronic Skin Patches Market – Analysis and Forecast, 2019-2024”, the global electronic skin patches market was estimated at $3.89 billion in 2018 and is expected to grow over $9.95 billion by 2024. The market is projected to witness a CAGR of 17.22% during the forecast period of 2019-2024. The market growth is supported by factors such as the rising inclination toward personal health and fitness amongst the population and the increasing prevalence of chronic and lifestyle associated diseases.

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Wearable systems quantify a comprehensive range of environmental, biophysical, and biochemical signals, to provide decisive comprehensions into overall health status and to enumerate human performance. The health tracking sensors which stick to the skin are grasping on and can determine variables other than health gadgets. The electronic skin patches continuously scan the body and send the information to a smartphone application, which notifies people when there is a warning sign.

The geriatric population and multicity of cardiovascular and diabetes among the population are the major factors contributing to the increased demand for electronic skin patches. Technological advancement in the electronic skin patches market has significantly promoted the growth of the electronic skin patches.

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The electronic skin patches can be used for applications, including diabetes management, cardiovascular management, temperature monitoring, and pain management, among others.
According to Swati Sood, Lead Analyst at BIS Research, “Cardiovascular management and temperature monitoring segments are expected to grow at the fastest rate in the global electronic skin patches market, due to increasing prevalence of lifestyle-diseases and increasing inclination for personal health and fitness amongst the population. Further, the major companies in the market are actively investing in research and development to treat different indications with electronic skin patches.”

In addition, the potential of the global electronic skin patches market with respect to different regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa,, has been highlighted in this report. The report is a compilation of research on more than 70 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 30 leading companies, market participants, and vendors.

The report also comprises 15 detailed company profiles including several key players, namely Abbott Laboratories, BioTelemetry, Inc., DexCom, Inc., General Electric Company, Insulet Corporation, iRhythm Technologies, Inc., Koninklijke Philips N.V., LifeSignals, Medtronic, Plc., MC10, Inc., Omron Corporation, Senseonics Holding, Inc., VivaLNK, and VitalConnect.

Key Questions Answered in the Report

• How was the performance of the electronic skin patches market in 2018, and how is it anticipated to evolve during the forecast period 2019-2024?
• What are the major drivers, challenges, and opportunities in the market?
• What are the leading trends and consumer preferences witnessed in the global electronic skin patches market?
• What are the key development strategies implemented by the major players to make a mark in this market?
• What are the key regulations pertaining to the market?
• What are the initiatives implemented by different governmental bodies regulating the development and commercialization of electronic skin patches?
• How was the market performance pertaining to the different segments of the market in 2018, and how much revenue is each segment expected to contribute during the forecast period from 2019- to 2024, on the basis of:
o type, including monitoring and diagnostic electronic skin patches and therapeutic electronic skin patches;
o application, including diabetes management, cardiovascular management and temperature monitoring, pain management, and others;
o region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoOW)?
• Which are the leading companies operating in the market?
• What are the perceptions of the investors regarding the market?

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About BIS Research:

BIS Research is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.
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This release was published on openPR.