Key Questions Answered in this Report:
- What are the different types of electronic skin patches available in the market, and what are the benefits offered by them?
- What are the major drivers, challenges, and opportunities in the global electronic skin patches market?
- What are the key development strategies implemented by the key players to stand out in this market?
- What are the regulations pertaining to the global electronic skin patches market?
- What are the initiatives implemented by different governmental bodies regulating the development and commercialization of electronic skin patches?
- What are the leading companies dominating the global electronic skin patches market?
- What are the perceptions of the investors about the global electronic skin patches market?
- How many types of electronic skin patches are available in the market, and which are the companies offering these?
- Based on the application, which electronic skin patches application is anticipated to witness a massive rise in demand in the forecast period 2019-2024?
- What was the market value in 2018 of the leading segments and sub-segments of the global electronic skin patches market?
- How is each segment of the global electronic skin patches market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2024?
- How is the industry anticipated to evolve during the forecast period 2019-2024?
- Which region is expected to contribute to the highest sales of the global electronic skin patches market during the forecast period?
- What are the leading trends and consumer preferences witnessed in global electronic skin patches markets?
Global Electronic Skin Patches Market Forecast, 2019-2024
The Global Electronic Skin Patches industry analysis by BIS Research projects the market to grow at a significant CAGR of 17.22% during the forecast period, 2019-2024. The electronic skin patches market generated $3,899.1 million revenue in 2018.
The electronic skin patches growth has been primarily attributed to the major drivers such as growing geriatric population leads to surge in exigency of electronic skin patches, increasing burden of chronic and lifestyle associated diseases elevating the requirement of continuous monitoring and treatment of a disease, increasing inclination for personal health and fitness among adults, increasing healthcare expenditure, growing prominence for point-of-care technologies, and increasing penetration of mobile platforms, tablets, and smartphones. The market is expected to grow at a significant growth rate due to the opportunities that lie within its domain, which include growth in emerging countries and technological advancement in electronic skin patches. However, there are significant challenges which are restraining the market growth. These challenges include high initial cost and design complexity of electronic skin patches and lack of data security and lack of interoperability are limiting the adoption of electronic skin patches.
“The diabetes management represents the biggest opportunity in the electronic skin patches market, as the demand of diabetes management skin patches and awareness about the diabetes are higher compared to other type of electronic skin patches. The upsurge prevalence of diabetes and growing geriatric population have made it the largest source of electronic skin patches for the treatment, monitoring, and diagnosis of diabetes.”
Scope of the Market Intelligence on Electronic Skin Patches Market
The electronic skin patches market research provides a holistic view of the market in terms of various factors influencing it, regulatory reforms, and technological advancements. The scope of this report is centered upon detailed study of the products, associated with the market. In addition, the study also includes exhaustive information on the market needs, details on the new products, competitive landscape, market share of leading players, growth potential of each underlying sub-segment, and company, as well as other vital information with respect to the global electronic skin patches market.
- On the basis of type, the electronic skin patches market is segmented into therapeutic electronic skin patches and diagnostic and monitoring electronic skin patches.
- On the basis of application, the electronic skin patches market is segmented into diabetes management, cardiovascular management and temperature monitoring, pain relief, and others.
Key Companies in the Electronic Skin Patches Industry
The key manufacturers that have been contributing significantly to the electronic skin patches market include 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, VivaLNK, and VitalConnect among others.