{"id":54300,"date":"2023-02-28T11:04:23","date_gmt":"2023-02-28T10:04:23","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/global-electronic-skin-patches-market-outlook-report-2022-2027-remote-patient-monitoring-driving-the-adoption-of-the-multi-billion-electronic-skin-patches-market-researchandmarkets-com\/"},"modified":"2023-02-28T11:04:23","modified_gmt":"2023-02-28T10:04:23","slug":"global-electronic-skin-patches-market-outlook-report-2022-2027-remote-patient-monitoring-driving-the-adoption-of-the-multi-billion-electronic-skin-patches-market-researchandmarkets-com","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/global-electronic-skin-patches-market-outlook-report-2022-2027-remote-patient-monitoring-driving-the-adoption-of-the-multi-billion-electronic-skin-patches-market-researchandmarkets-com\/","title":{"rendered":"Global Electronic Skin Patches Market Outlook Report 2022-2027: Remote Patient Monitoring Driving the Adoption of the Multi-billion Electronic Skin Patches Market – ResearchAndMarkets.com"},"content":{"rendered":"
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DUBLIN–(BUSINESS WIRE)–The “Electronic Skin Patches Market – Global Outlook & Forecast 2022-2027”<\/a> report has been added to ResearchAndMarkets.com’s<\/strong> offering.\n<\/p>\n

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\nThe global electronic skin patches market is expected to reach a value of $28.82 billion by 2027 from $9.57 billion in 2021, growing at a CAGR of 20.17% during 2022-2027.\n<\/p>\n

\nThe significant factors contributing to the growth of the electronic skin patches market include the rise in the need for continuous monitoring of physiological parameters, growing penetration of wearable devices and mobile platforms for healthcare monitoring, development of innovative skin patches, high demand for remote patient monitoring, an emerging trend of digital tattoos, presence of supporting initiatives and reimbursement policies, and a growing number of start-ups developing electronic skin patches.\n<\/p>\n

\nElectronic skin patches anchor a device on the patient’s or user’s skin to achieve a specific function. These patches are attached to a user’s skin and incorporated with sensors, actuators, processors, and communication technology, which allow the device to connect to the internet and turn it smart. Several significant application areas are now profoundly impacting health and quality of life. In particular, cardiovascular monitoring and diabetes management has been growing exponentially to create billions of annual revenues.\n<\/p>\n

\nElectronic skin patches are one of the latest waves in health monitoring; their non-intrusive design means they are comfortable and discrete. These patches include sweat, axillary temperature, motion, biopotential (TENS, EMS) patches, and devices across various sectors and product categories. In cardiovascular monitoring, these devices range from traditional ECG options and monitoring devices for inpatients and outpatients to specific products such as Holter monitors, mobile cardiac telemetry devices, and other event monitors.\n<\/p>\n

\nMARKET TRENDS & OPPORTUNITIES<\/strong>\n<\/p>\n

\nGrowing Number of Start-ups and Rise in the Development of Innovative Skin Patches<\/strong>\n<\/p>\n

\nWith the growing demand for technological innovations in the healthcare field, several start-ups are emerging to stay ahead of the technology curve to strengthen their competitive advantage in the electronic skin patches market. A few interesting start-ups and universities are working to bring advanced electronic skin sensor patches into the market.\n<\/p>\n

\nFor instance, XSENSIO SA has developed next-generation wearable devices to track biochemical information on the wearer’s skin surface. Scientists at the Georgia Institute of Technology have developed wireless wearable devices for measuring heart rate, electrocardiogram, respiratory rate, and motion activity. Some scientists have also developed a flexible, wearable patch detecting blood-alcohol levels from the user’s sweat.\n<\/p>\n

\nHigh Need for Constant Physiological Monitoring and Treatment for Hospitalized Patients<\/strong>\n<\/p>\n

\nThe growing burden of acute or chronic conditions has increased the need for continuous monitoring of both inpatients and outpatients. The major causes of death worldwide are due to heart diseases, cancers, diabetes, chronic lower respiratory syndrome, stroke, cerebrovascular diseases, viral infections, and others.\n<\/p>\n

\nCardiovascular diseases are one of the leading causes of death worldwide, taking around 17.9 million lives each year. This increased the number of patients needing to constantly monitor heart rate, pulse rate, electrocardiogram, and other parameters related to the heart. The electronic skin patches market has emerged to monitor such physiological parameters for heart-related diseases and various other conditions.\n<\/p>\n

\nRemote Patient Monitoring Driving the Adoption of Electronic Skin Patches<\/strong>\n<\/p>\n

\nRemote patient monitoring uses innovative technology tools to collect and track patient data outside standard medical settings. With an increase in the prevalence of various diseases, many healthcare providers are shifting to implementing remote patient monitoring, especially in conditions such as elderly patients, pandemics, and others.\n<\/p>\n

\nThe adoption of remote patient monitoring is increasing the use of electronic skin patches to transfer patient information directly to the healthcare provider or enter into the electronic medical records boosting the electronic skin patches market. Cardiology was one of the first therapy areas to introduce remote patient monitoring into standard practice. This sector streamlines doctor-hospital visits by remotely switching monitors between compact cardiac monitoring devices during the monitoring period.\n<\/p>\n

\nIncrease in Adoption of Healthcare Applications & Smart Wearables<\/strong>\n<\/p>\n

\nMany users are increasingly adopting connected wearable medical devices due to their various advantages, such as continuous monitoring, prediction of health problems and providing alerts, a collection of detailed real-time longitudinal data, and helping educate and empower patients to take control of their health.\n<\/p>\n

\nThese devices are being incorporated and connected to electronic skin patches, providing ease of use, and contributing to the growth of the global electronic skin patch market. Software applications in mobiles or smart watches are associated with these patches to send data directly and help monitor the users’ health.\n<\/p>\n

\nCOMPETITIVE LANDSCAPE<\/strong>\n<\/p>\n

\nThe competitive landscape in the global electronic skin patch market is currently intensifying due to the rapidly changing technological environment in the healthcare industry. Vendors operating the market are pursuing various strategies to provide the impetus for growth over the next few years.\n<\/p>\n

\nThese market participants adopt collaboration, partnerships, mergers, acquisitions, product launches, and other strategies. For instance, Philips acquired BioTelemetry, a leading player in the mobile cardiac telemetry market, in February 2021.\n<\/p>\n

\nLarge medical device companies are adopting an acquisition strategy to invest or partner with many emerging vendors to diversify their product portfolio and strengthen their presence in the overall market. For instance, iRhythm Technologies deployed ZioAT and ZioXT virtual platforms to help doctors treat a patient’s heart using telemetry during the COVID-19 pandemic in April 2020.\n<\/p>\n

\nThe global electronic skin patches market is likely to get highly dynamic with the presence of major international, regional, and a handful of local vendors offering electronic skin patches. Abbott, Dexcom, General Electric Company, and Koninklijke Philips are vendors that contributed to a major share of the global electronic skin patches market.\n<\/p>\n

\nMarket Dynamics<\/strong>\n<\/p>\n

\nPremium Insights\n<\/p>\n