Download Sample, Research and Development of Novel Technologies is Driving the Market Expansion for Electronic Skin
Research and development in the electronic skin market is driven by various technological developments, thus, stimulating the market expansion over the forecast period. Microfabrication techniques have enabled the miniaturization of electro-mechanical and mechanical components as a result of ongoing developments in the Microelectro-Mechanical Systems (or MEMS) technology. Throughout the forecast period, the multifunctionality features of various electronic skin solutions are anticipated to drive the market for electronic skin globally. Researchers have prioritized enhancing the "bio-inspired" electronic skin technology by making new developments in the technology.
For instance, in July 2021, Stanford University developed a flexible electronic skin by utilizing more than 40,000 transistors into a single chip. This development has enabled to design of circuits for body-scale networks, implantable bioelectronics, and on-skin sensors with limitless applications. This technology is anticipated to enable stretching twice as large as that of electronic skin, and it is anticipated to be used in both robots and prosthetics. Earlier in March 2019, researchers at the National University of Singapore developed a touch-sensitive, flexible, self-healing transparent electronic skin. This development was inspired by jellyfish. The 3D printability of this material, its ability to reduce electronic waste and retain its shape in both wet and dry surroundings is anticipated to increase its adoption.
For instance, in July 2021, Stanford University developed a flexible electronic skin by utilizing more than 40,000 transistors into a single chip. This development has enabled to design of circuits for body-scale networks, implantable bioelectronics, and on-skin sensors with limitless applications. This technology is anticipated to enable stretching twice as large as that of electronic skin, and it is anticipated to be used in both robots and prosthetics. Earlier in March 2019, researchers at the National University of Singapore developed a touch-sensitive, flexible, self-healing transparent electronic skin. This development was inspired by jellyfish. The 3D printability of this material, its ability to reduce electronic waste and retain its shape in both wet and dry surroundings is anticipated to increase its adoption.
Rising Health Concerns and Increasing Need for Advanced Health Monitoring Systems is Accelerating the Market Development
The primary reasons propelling the growth of the electronic skin market are the rise in demand for superior and regular health monitoring systems, the rise in spending on advanced wearable technology, and the rise in investment in robotics technology. The increase in air pollution, environmental toxins, and health-related concerns has an effect on life quality, the nature of expenses, and healthcare monitoring systems. These factors increase the demand for more frequent and improved health monitoring systems, which is driving the market for electronic skins to rise. It is anticipated that chronic conditions including diabetes, cancer, and heart disease will become more common as the population ages. This is expected to pose a threat to the geriatric population.
As a result, the adoption of electronic skin patches has increased thus, driving the market expansion. Remote management of chronic illnesses is now possible with the use of electronic skin patches and related equipment, offering the patient total independence. Thus, the global electronic skin market is anticipated to grow during the forecast period due to the rising acceptance of remote patient monitoring equipment and increasing awareness of electronic skin technology in the healthcare sector.
As a result, the adoption of electronic skin patches has increased thus, driving the market expansion. Remote management of chronic illnesses is now possible with the use of electronic skin patches and related equipment, offering the patient total independence. Thus, the global electronic skin market is anticipated to grow during the forecast period due to the rising acceptance of remote patient monitoring equipment and increasing awareness of electronic skin technology in the healthcare sector.
Recent Trends in the Electronic Skin Industry
- Advancements in materials ensure safety for long-term wear.
- Development of ultra-thin, stretchable components for flexible electronic skin.
- Incorporation of materials that self-repair after damage for self-healing technology.
- AI integration enables adaptive, smart responses in electronic skin.
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High Initial Costs, Complex Design and Material Damage are Likely to Hamper the Market Growth
The complexity of developing electronic skin is increased by manufacturers' usage of multiple components in a paper-sized dielectric material foil. This in turn restricts the use of electronic skins, which slows the market's expansion. Additionally, the degradation of the electronic skin caused by external environmental factors such as moisture and others restrict its adoption and restrains the expansion of the market.
Moreover, E-skin can sustain damage through stretching, twisting, and temperature changes, some of which might not always be apparent or accessible. This will affect the functionality and durability of stretchable gadgets. In addition to this, the high manufacturing costs required for the implementation of the complex design of E-skin and the lack of awareness of this technology in underdeveloped nations are anticipated to be another factor responsible for hampering the electronic skin market over the forecast period.
Moreover, E-skin can sustain damage through stretching, twisting, and temperature changes, some of which might not always be apparent or accessible. This will affect the functionality and durability of stretchable gadgets. In addition to this, the high manufacturing costs required for the implementation of the complex design of E-skin and the lack of awareness of this technology in underdeveloped nations are anticipated to be another factor responsible for hampering the electronic skin market over the forecast period.
New Product Developments and Collaborations Present Lucrative Growth Opportunities for the Electronic Skin Market
In order to establish a more solid global presence, the majority of the top companies in the highly competitive global market for electronic skin are emphasizing strategic initiatives, like product upgrades and alliances. In January 2020, Vivalnk Inc. declared that the company's wearable sensors are assisting the Chinese government in limiting the coronavirus's spread throughout China. Due to the fact that wearable sensors were developed following the previous SARS outbreak, the Shanghai Public Health Clinical Centre (SPHCC) has begun using them in their special wards.
Again, in October 2019, MC10 Inc. declared its collaboration with the University of Rochester. The collaboration aimed at the creation of advanced digital biomarkers for the diagnosis and treatment of central nervous system illnesses. Furthermore, in January 2020, scientists at the University of Toronto created a transparent, ultra-stretchable sensor that can record the complex sensations of human skin called “Artificial Iconic Skin”. The new AI skin could pave the way for skin-like fitness gear like Fitbits that track numerous body parameters.
Again, in October 2019, MC10 Inc. declared its collaboration with the University of Rochester. The collaboration aimed at the creation of advanced digital biomarkers for the diagnosis and treatment of central nervous system illnesses. Furthermore, in January 2020, scientists at the University of Toronto created a transparent, ultra-stretchable sensor that can record the complex sensations of human skin called “Artificial Iconic Skin”. The new AI skin could pave the way for skin-like fitness gear like Fitbits that track numerous body parameters.
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Rising Geriatric Population and Rise in Number of Diabetes Patients is Anticipated to Impact the Electronic Skin Market
The market in North America is growing as a result of an expanding geriatric population and new product launches. According to U.S. Census Bureau, the United States comprises of more than 56 million adults aged 65 and older which accounts for 16.9% of the population. By 2030, when the last members of the baby boomer generation reach old age, there will be more than 73.1 million older people globally. Besides, affordable reimbursement policies and ongoing technology development are also fostering the expansion of the market in the area. Additionally, the region's growth is being further boosted by the presence of major market participants in the sector.
Furthermore, the market is anticipated to grow at the fastest rate in Asia Pacific over the forecast period. The two main drivers of market expansion are the growing geriatric population and the rise in diabetes cases. According to the Organisation for Economic Co-operation and Development (OECD), about 227 million people in Asia-Pacific have type 2 diabetes, of which about half are untreated and uninformed of potential long-term implications. Furthermore, a stated by United Nations Population Fund (UNFPA), one in four people will be over 60 years old by 2050 in the Asia Pacific region. These factors collectively are fuelling the growth of the market for electronic skin.
Furthermore, the market is anticipated to grow at the fastest rate in Asia Pacific over the forecast period. The two main drivers of market expansion are the growing geriatric population and the rise in diabetes cases. According to the Organisation for Economic Co-operation and Development (OECD), about 227 million people in Asia-Pacific have type 2 diabetes, of which about half are untreated and uninformed of potential long-term implications. Furthermore, a stated by United Nations Population Fund (UNFPA), one in four people will be over 60 years old by 2050 in the Asia Pacific region. These factors collectively are fuelling the growth of the market for electronic skin.
The report provides a detailed overview of the electronic skin market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the electronic skin market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the electronic skin market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which is anticipated to have a substantial impact on the growth of the electronic skin market. Some key countries and regions included in the electronic skin market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Electronic Skin Market Research Report Covers In-depth Analysis on:
- Electronic skin market detailed segments and segment-wise market breakdown
- Electronic skin market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in electronic skin industry)
- Current, historical, and forthcoming 10 years market valuation in terms of electronic skin market size (US$ Mn), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Electronic skin market demand analysis
- Electronic skin market regional insights with a region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the electronic skin market
- Regulatory landscape by key regions and key countries
- Electronic skin market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the electronic skin market forecast by countries
- Mergers and acquisitions in the electronic skin market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the primary factors driving the growth of the electronic skin market?
The growth of the electronic skin market is driven by advancements in wearable electronics, increasing demand for health monitoring devices, and the rise of smart prosthetics, all contributing to the development of innovative applications.
What are the challenges faced by manufacturers in the electronic skin industry?
Key challenges include issues related to material durability, integration with existing technologies, high production costs, and the need for continued advancements in sensor technology to ensure accurate and reliable data.
Which regions are expected to see significant growth in the electronic skin market?
The electronic skin market is anticipated to grow substantially in regions like North America, Europe, and Asia Pacific, driven by investments in healthcare innovation, technological advancements, and the expansion of wearable technology.
