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Global Electronic Skin Patches Market Analysis by Recent Developments and Business Outlook 2022-2030

09-14-2022 09:51 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Inkwood Research

ELECTRONIC SKIN PATCHES MARKET

ELECTRONIC SKIN PATCHES MARKET

According to the estimations put forth by Inkwood Research, the Global Electronic Skin Patches Market is set to record a CAGR of 16.89% in terms of revenue during the forecasting years of 2021-2028.
"Browse 40 Market Data Tables and 42 Figures spread over 159 Pages, along with an in-depth TOC on the Global Electronic Skin Patches Market Forecast 2021-2028."

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Electronic skin patches are characterized by a thin layer of fabric, used to mimic the human skin's properties, primarily in terms of pressure sensitivity and temperature. This helps understand the surrounding environment, as well as other external aspects, including heat and touch. The wearable device also offers suitable, comprehensive, and timely care, by remotely monitoring the patient's physiological parameters.

Increased Geriatric Population Promotes Market Growth
The population across the world is aging rapidly, owing to the dramatic increase in life expectancy. As per the World Population Prospects' data, one in six people globally, is anticipated to be over the age of 65, in 2050, from one in 11, in 2019. Besides, one in four individuals living in North America and Europe, is likely to be aged 65, or over, by 2050.
On the other hand, life expectancy across numerous nations has increased significantly. This is primarily accredited to substantial advancements in medical science and diagnostic technology, as well as improving awareness regarding nutrition, hygiene, and health. Moreover, the geriatric population is growing rapidly, with an increased need for primary and long-term care.
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Cardiovascular Management and Temperature Monitoring is the Leading Therapeutics
Cardiovascular management entails ECG patches connected to the body surface in order to transmit the electrical signal to the patient's heart activity. The growing incidence of cardiovascular conditions leads to increased demand for enhanced monitors, for the purpose of continual monitoring. As a result, ECG is an essential part of tracking and diagnosing several cardiovascular ailments. Moreover, blood pressure monitoring is utilized to prevent strokes and heart diseases. Such devices are developed to offer accurate sleet blood pressure readings and deliver drug therapies based on patients' needs.

North America Dominated the Global Market in 2020
The increased prevalence of lifestyle-related diseases and chronic conditions, including diabetes and cardiovascular diseases, essentially propel the electronic skin patches market growth in North America. Moreover, the growing awareness, linked with the importance of early disease diagnosis, further bolsters the region's market growth.
Technical innovations, primarily associated with the introduction of novel and improved extracts, in terms of personal care products, are projected to boost the product demand. As a result, the competitive rivalry within the global electronic skin patches market is anticipated to remain high, over the forecast years. Some of the distinguished companies operating in the market are, Abbott Laboratories, DexCom Inc, GE Healthcare, Medtronic PLC, Koninklijke Philips NV, etc.

Related Reports:
GLOBAL PH SENSORS AND ANALYZERS MARKET
GLOBAL GLUCOSE MONITORING SYSTEM MARKET
GLOBAL PULSE OXIMETER MARKET

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