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Electronic Skin Patch Market Trends

  • Report ID: GMI11052
  • Published Date: Aug 2024
  • Report Format: PDF

Electronic Skin Patch Market Trends

One of the latest trends in the electronic skin patch industry is the integration of advanced biosensing technologies. New patches are incorporating sophisticated sensors capable of monitoring a range of biomarkers, including glucose levels, hydration, and electrolyte balance. These advancements allow for more comprehensive and accurate health monitoring, paving the way for enhanced management of chronic conditions such as diabetes and cardiovascular diseases. Additionally, the use of flexible, stretchable electronics is improving the comfort and wearability of these patches, making them more user-friendly and suitable for long-term use.
 

Another emerging trend is the incorporation of wireless communication and data analytics capabilities. Modern electronic skin patches are increasingly equipped with wireless modules that transmit collected data in real-time to smartphones or cloud-based platforms. This trend is facilitating remote health monitoring and personalized feedback, which can significantly enhance patient engagement and treatment adherence. Furthermore, the integration of artificial intelligence (AI) and machine learning algorithms is enabling more sophisticated data analysis, leading to better insights and predictive capabilities for managing health conditions.
 

For instance, in May 2023, Medtronic announced the acquisition of EOFlow, a wearable insulin patch maker, to expand its diabetes management solutions. The next-generation EOPatch device integrates advanced algorithms and a continuous glucose monitoring (CGM) platform, offering a comprehensive solution for diabetes patients.
 

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

The market size for electronic skin patch was valued at USD 16.5 billion in 2023 and is anticipated to grow at over 14% CAGR between 2024 and 2032 driven by advances in wearable technology and healthcare innovations

The online distribution channel segment in the electronic skin patch industry is set to witness over 15% CAGR between 2024 and 2032 due to increasing adoption of e-commerce platforms and the growing preference for online shopping

North America industry accounted for over 30% share in 2023 led by the presence of advanced healthcare infrastructure and high adoption rates of innovative medical technologies.

Abbott, Dexcom, Inc., Insulet Corporation, iRhythm Technologies, Inc. (Zio), Koninklijke Philips N.V., Medtronic, and Vitalconnect

Electronic Skin Patch Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 662
  • Countries covered: 21
  • Pages: 210
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