The Europe electronic skin patches market is registered to project a CAGR of 16.41%, during the forecast years of 2021 to 2028. The region’s key market growth drivers are, the surging number of research and development activities, the rising healthcare expenditure, and the increasing geriatric population.
The Europe electronic skin patches market growth is assessed by evaluating France, Poland, Germany, the United Kingdom, Russia, Belgium, Italy, and the rest of Europe. On the other hand, healthcare is the key division, in terms of Germany’s economy. The country’s medical device market is relatively sophisticated, with the demand for innovative devices observing a growing trend. Besides, the growing incidence of chronic and lifestyle-related diseases, the surging aging population, and the need for monitoring and diagnosis, plays an important role in fuelling the country’s demand for electronic skin patches. For example, according to a 2019 article, Germany’s mortality rate due to heart diseases increased over recent years, following a stable decline in the last two decades.
On the other hand, Italy’s life expectancy rate is high. However, this factor increases the burden of chronic conditions in the country. The incidence of chronic as well as lifestyle-related diseases observes rapid growth in Italy, resulting in the increased demand for skin patches, for patient monitoring. For example, according to the Organisation for Economic Co-operation and Development (OECD), over 66% of all deaths in Italy, were associated with cardiovascular conditions and cancer. Hence, these factors are anticipated to propel the market growth, over the forecast period.
Prominent companies operating in the market include, Koninklijke Philips NV, Medtronic PLC, Nemaura Medical Inc, etc.
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