Electronic Skin Market size is projected to experience significant growth from 2019 to 2025. Technological advancements integrated in electronic skin patches should positively influence electronic skin market growth over the forthcoming years. Miniature semiconductors and other technologically upgraded components incorporated in electronic skin patches surges its adoption. For instance, e-skin patches are utilized in robotic surgeries that improves surgical success rates due to enhanced tactile sensing. E-skin patches provide surgical robots ability to sense the physical properties of objects that increases its preference in minimally invasive robotic surgeries. Furthermore, recently developed electronic skin patches are user friendly that augments its preference amongst the elderly population base.
Favorable regulatory policies has boosted the electronic skin industry growth in the past few years. Regional regulatory authorities such as the U.S. FDA and EU Commission frame several laws and policies that maintain the integrity and quality of electronic skin patches manufactured by industry players. Companies operative in electronic skin market have to comply with these regulations that reduces errors and improves accuracy and efficiency of the e-skin patches. However, complications associated with the electronic skin patches may hamper its adoption thereby, restraining the industry growth.
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Robotic surgical procedures segment will experience lucrative growth during analysis timeframe. E-skin patches guide autonomous navigation systems while carrying out surgical procedures. These patches contain about 50 components and are connected by 250 tiny coils that improves the sensing capabilities of robots performing surgeries. Moreover, recently developed wearable skin patches are highly flexible and preferred mostly in robot assisted surgeries to enhance robot’s experience with the physical environment.
Hospitals segment held considerable share in 2018 and will witness numerous growth opportunities during analysis timeframe. High adoption of e-skin patches amongst the healthcare professionals to provide accurate diagnosis in hospitals is predicted to escalate the segmental growth. Doctors usually rely on the e-skin patches that allows them to obtain real time patient’s health data. Highly efficient sensors integrated in these patches allows effective processing of biological information that helps doctors to make better decisions during surgical procedures.
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U.S. dominates North America electronic skin market owing to growing elderly population base susceptible to several chronic diseases and require continuous monitoring. Such favorable demographic trends in the U.S. proves beneficial for the industry growth as it increases demand for e-skin patches that are utilized for remote monitoring of elderly patients. Additionally, high awareness regarding availability of technologically upgraded electronic skin patches for point-of-care has positively impacted the U.S. electronic skin market growth.
Eminent industry players in electronic skin market are MC10, Dialog Semiconductor, Intelesens Ltd., 3M, Koninklijke Philips N.V., Plastic Electronics GmbH, ROTEX Global, SMARTLIFEINC LIMITED, VivaLNK, Xenoma, and Xsensio. These key industry players adopt several strategic initiatives such as mergers, acquisitions and new product launch that helps them in maintaining their market position by generating sustainable profits. For instance, in January 2017, Xsensio, one of the leading players introduced wearable lab-on-skin to monitor and analyze patient’s health through sweat. Introduction of new products will broaden company’s product pipeline.