With 12.5% CAGR, Electronic Skin Patch Market Growth to Surpass USD 27.0 billion

The Electronic Skin Patch market is projected to grow from USD 15.0 billion in 2024 and is projected to reach USD 27.0 billion by 2029; it is expected to grow at a CAGR of 12.5% from 2024 to 2029. The growth of the Electronic Skin Patch market is driven by growing geriatric population; surging demand for remote health monitoring solutions; and advancement in flexible electronics, sensors and wireless technologies.

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Miniaturized sensors represent a pivotal technology driving the evolution of electronic skin patches, offering transformative benefits in healthcare monitoring. These sensors, typically integrated into wearable patches, enable continuous and non-invasive monitoring of vital signs, physiological parameters, and biomarkers, revolutionizing patient care and wellness management. Leveraging advanced microfabrication techniques, such as thin-film technologies, micromachining, and microfluidics, these sensors are crafted with precision on flexible substrates, enabling their integration into wearable patches. Electrochemical sensors, exemplified by leaders, such as Dexcom and Abbott, measure biomolecules, such as glucose and lactate, through enzymatic reactions, offering critical insights for diabetes management and athletic performance tracking. Bioimpedance sensors, pioneered by companies, such as BioTelligence and Philips, assess tissue impedance to monitor hydration levels, blood flow, and even body composition, showcasing the diverse applications of miniaturized sensor technology in electronic skin patches.

The electronic skin patch market is witnessing unprecedented growth and innovation, driven by advancements in wearable technology and the growing demand for personalized healthcare solutions. Diabetes management is a prominent application area for electronic skin patches, addressing the growing prevalence of diabetes worldwide. According to the International Diabetes Federation (IDF), number of adults living with diabetes will soar to approximately 783 million, which translates to about 1 in 8 adults. These patches equipped with glucose sensors enable continuous monitoring of glucose levels in real time, offering individuals with diabetes greater control over their condition.

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A high incidence of chronic conditions among the elderly has accelerated the advancements in electronic skin patch technologies in North America.  As the population ages, there is a heightened demand for continuous health monitoring solutions, accelerating the use of electronic skin patches. This need is further amplified by the rising incidence of chronic conditions that is cardiovascular diseases and diabetes, which require regular monitoring to manage health outcomes effectively. According to National Institute of Health (NIH), in 2002, chronic diseases were responsible for 46% of all deaths in developing countries, and is estimated to grow to 59% by 2030, or to more than 37 million lives a year (a 64% increase).