Electronic Skin Sensors Market Size Worth $21 billion By 2030: IndustryARC

Research Reports

Feb 28, 2024

The Global Electronic Skin Sensors Market size is predicted to reach $21 billion by 2030, growing at a CAGR of 21.1 % during the forecast period 2024-2030. The electric skin sensor market has experienced robust growth with various reports projecting substantial expansion. Rising demand in healthcare, for monitoring vital signs, wound healing, and prosthetics, fuels market growth due to the sensors’ biocompatibility and non-invasiveness, which is anticipated to propel the growth of the Electronic Skin Sensors Market for the forecast period finds IndustryARC in its recent report, titled “Electronic Skin Sensors Market Size, Share & Trends Analysis Report By Type, (Disposable Type, Reusable Type), By Product Type, (BodyNet Sensor, Wearable Skin Sensor, Others), By Application, (Medical, Cosmetics, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030.”

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APAC to Register Highest Growth:

Geographically, in the global Electronic Skin Sensors Market, APAC is analyzed to grow with the highest CAGR of 28.5% during the forecast period 2024-2030. Ongoing advancements and investments in technology, particularly in electronic skin development, are catalyzing market growth. The diverse application of electronic skin sensors in healthcare, consumer electronics, and robotics is a key driver for market proliferation for instance, in March 2022, consumer electronics accounted for 12%. Growing consumer demand for wearable health monitoring devices and healthcare advancements significantly contribute to the expanding electronic skin sensors market in the APAC region. The APAC electronic skin sensors market exhibits remarkable growth potential, driven by its substantial growth, substantial market valuation projection, continuous technological innovations, diverse applications, and rising demand for wearable healthcare devices.

Electronic Skin Sensors Market2023-2030: Scope of the Report

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

21.1%

Market Size in 2030

$21 billion

Segments Covered

Type, Product Type, Application and Region

Geographies Covered

North America, South America, Europe, APAC, Middle East & Africa

Key Market Players

  1. ADInstruments
  2. Moritex
  3. Courage + Khazaka Electronic
  4. Xsensio
  5. Edinburgh Innovations
  6. Truer Medical
  7. Medtronic plc
  8. GE Healthcare
  9. Epicore Biosystems, Inc
  10. Medline Industries, LP.

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Electronic Skin Sensors Market Report – Key Takeaways:

Medical Segment to Register the Highest Share

In the Electronic Skin Sensors Market Analysis, the medical segment is dominating the market in 2023. These sensors enable continuous health monitoring by tracking vital signs like heart rate, blood pressure, and body temperature. They provide real-time data for better patient care. Electronic skin sensors aid in wound management by monitoring healing progress and detecting infections.

As per Mary Ann Liebert, Inc. in October 2023, Chronic wounds impacted 10.5 million Medicare patients in the United States. Chronic wounds have a negative influence on the quality of life for roughly 2.5% of the US population which is expected to boost the electronics skin sensors market.

They provide insights into wound status without invasive procedures, enhancing patient comfort. The sensors facilitate remote patient care, allowing healthcare professionals to monitor patients’ conditions from a distance. This remote monitoring capability improves healthcare accessibility and reduces hospital visits. Electronic skin sensors contribute to disease management, especially in chronic conditions like diabetes. They offer continuous glucose monitoring, enhancing disease control and improving patients’ quality of life.

Reusable Type is the Fastest Growing Segment in the Market

In the Electronic Skin Sensors Market Analysis, the reusable type segment is estimated to grow with the highest CAGR during the forecast period 2024-2030. These sensors offer cost savings over time as they can be used repeatedly, making them economically viable for prolonged applications. Their reusability aligns with sustainable practices, reducing electronic waste generated from disposable sensors.

Reusable sensors provide flexibility across various applications, allowing for different monitoring scenarios and adaptations based on user needs. Their cost-effectiveness and sustainable nature contribute to significant market growth, catering to industries requiring long-term sensor usage. Reusable electronic skin sensors play a crucial role in offering a balance between performance, sustainability, and cost-effectiveness, appealing to industries seeking durable, adaptable, and cost-efficient monitoring solutions.

Rising Demand for Wearable Health Monitoring Devices

The increasing adoption of wearable health monitoring devices fuels the demand for electronic skin sensors. These sensors enable continuous monitoring of vital signs like heart rate, temperature, and blood pressure. As individuals focus more on personal health and fitness, the demand for non-invasive, real-time monitoring solutions drives the market for electronic skin sensors for instance, in August 2022, Massachusetts Institute of Technology (MIT) devised an electronic skin that communicates wirelessly without requiring chips or batteries.

Wearable sensors are becoming more common due to wireless technology that allows glucose concentrations, blood pressure, heart rate, and activity levels to be smoothly sent from sensor to smartphone for additional analysis. These devices empower individuals to take proactive measures toward their health, thereby propelling market growth. Increasing focus on health and wellness drives the demand for non-invasive, continuous monitoring solutions. Electronic skin sensors, integrated into wearable devices, facilitate real-time tracking of vital signs like heart rate, temperature, and glucose levels. This fosters proactive healthcare management and prompts the adoption of electronic skin sensors in health monitoring applications.

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Key Opportunity Analysis:

Growing Healthcare Applications

The integration of electronic skin sensors in healthcare presents a lucrative opportunity. These sensors enable real-time health monitoring, wound assessment, and drug delivery systems. Enhanced diagnostics and personalized healthcare solutions leveraging these sensors are poised for substantial growth. The electronic skin sensor market is witnessing substantial growth, primarily propelled by its expanding applications in healthcare.

The healthcare sector represents a significant opportunity for electronic skin sensors, expected to witness the highest growth among various applications. These sensors play a pivotal role in real-time health monitoring, wound assessment, drug delivery systems, and personalized healthcare solutions. With the advancements in sensor technology, these devices are becoming increasingly sophisticated, offering precise and comprehensive data for diagnostics and health management.
Technological Advancements and Miniaturization

Ongoing technological advancements, particularly in sensor technology and miniaturization, drive the development of more efficient, smaller, and flexible electronic skin sensors. The evolution towards lightweight, flexible, and more comfortable sensors enhances their usability in various applications, including healthcare, robotics, and prosthetics. The electronic skin sensor market is witnessing significant advancements driven by technological innovations and miniaturization in sensor components.

MEMS (Micro-Electro-Mechanical Systems) advancements have played a pivotal role in miniaturizing electro-mechanical and mechanical components using microfabrication techniques, enabling the development of smaller, efficient sensors. These advancements are crucial in enhancing the functionalities of electronic skin sensors, making them more precise, sensitive, and adaptable to various applications such as wearables and immersive technologies.

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The Report also Covers the Following Areas:

Electronic Skin Sensors Market Size and Forecast
Electronic Skin Sensors Market Trends
Electronic Skin Sensors Market Analysis by Deployment Type

Electronic Skin Sensors Market2023-2030: Key Highlights

CAGR of the market during the forecast period 2023-2030
Value Chain analysis of key stake holders
Detailed analysis of market drivers and opportunities during the forecast period
Electronic Skin Sensors Market size estimation and forecast
Analysis and predictions on end users’ behavior and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments, and financials
Comprehensive analysis of challenges and constraints in the Electronic Skin Sensors Market.

Covid and Ukrainian Crisis Impact:

The Covid-19 epidemic has had a significant impact on the world. Despite the increased demand, supply chain interruptions hampered manufacturing and distribution. Component shortages and logistical challenges slowed market growth. During the epidemic, electric skin sensors were critical instruments for remote patient monitoring.

They enabled the collection of crucial health parameters in real-time, assisting healthcare practitioners in remotely monitoring COVID-19 patients and managing chronic conditions. The crisis accelerated sensor technology improvements, with a focus on precision, data analytics, and integration with artificial intelligence (AI). Sensor capabilities were enhanced in order to improve diagnosis and monitoring.

The Russian invasion of Ukraine in 2023, The battle impacted vital raw resources essential for sensor production, causing worldwide supply chain disruptions. The protracted conflict has created uncertainty, which has harmed investor confidence and market stability.

Market reports were influenced by continuous monitoring and updates on geopolitical concerns, reflecting economic uncertainty caused by the conflict. Due to probable disruptions in raw material supplies, the semiconductor and electronics sectors, which are critical to sensor manufacturing, faced concerns.

In the midst of geopolitical tensions and economic volatility, the Russia-Ukraine conflict has thrown doubt about supply chains and market estimates, hurting investor confidence and producing changes in the electric skin sensors industry.

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List of Key Market Players in Electronic Skin Sensors Market:

The key companies profiled in the Electronic Skin Sensors Market Report are listed below:

  1. ADInstruments
  2. Moritex
  3. Courage + Khazaka Electronic
  4. Xsensio
  5. Edinburgh Innovations
  6. Truer Medical
  7. Medtronic plc
  8. GE Healthcare
  9. Epicore Biosystems, Inc
  10. Medline Industries, LP
  11. Hudson Medical Innovations
  12. Tapecon, Inc.
  13. Resonetics
  14. Fuelium
  15. 3M

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Electronic Sensors Market – The Electronic Sensors Market size is projected to grow at a CAGR of 12.5% from 2023 to 2030, IoT-connected devices have created enormous opportunities for sensors in a variety of applications such as industrial, medical, consumer electronics, automotive, and so on.

Parking Sensors Market – The Parking Sensors Market size is projected to grow at a CAGR of 24.3% during the forecast period from 2023 to 2030. Amongst various technologies that are being used, ultrasonic sensors generated the highest revenue followed by electromagnetic sensors.

Printed Sensors Market – The Printed Sensors Market size is growing at a CAGR of 7.3% during the forecast period 2023 to 2030. The increasing fuel-efficient technologies combined with growing demand in engine control management is further paving opportunities for the automotive printed sensor market in the upcoming years.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format which assists an intelligent and informed decision-making process.

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