February 22, 2024

Skin Sensors Market to Witness Remarkable Growth with an 18% CAGR by 2030

Skin sensors, innovative devices that measure the electrical characteristics of the skin, are poised for impressive growth. The global skin sensors market is projected to experience a substantial CAGR of approximately 18% during the period of assessment from 2023 to 2030, ultimately reaching a remarkable market value of around US$25 billion by the end of 2030.

Key Report Findings

  • Expanding Robotics Sensor Investment Drives Growth: The increasing investment in robotics sensors and the growing demand for advanced health monitoring systems are anticipated to influence the adoption of electronic skin (e-skin).
  • Wearable Disposables Dominate: Disposable wearable types are in high demand within the skin sensors market, offering convenience and versatility.
  • Medical Monitoring Leads the Way: The medical monitoring category accounted for the highest revenue share in 2022, reflecting the growing need for health monitoring and sophisticated sensor technology.
  • North America Takes the Lead: North America is the current leader in the skin sensors market, driven by factors such as an aging population, technological advancements, and favorable reimbursement policies.
  • Asia Pacific Shows Strong Growth: Asia Pacific is expected to experience the highest growth in the skin sensors market, with increasing demand for e-skin products in cosmetics and medical delivery systems.

Growth Drivers

  • Rising Prevalence of Chronic Diseases: The increasing prevalence of chronic and non-communicable diseases, such as cancer, diabetes, and cardiovascular diseases, is driving the need for healthcare apps and remote health monitoring using IoT technology.
  • Technological Advancements: Continuous technological advancements, including the development of electronic skin for various applications, are contributing to market growth.
  • New Healthcare Applications: Electronic skin is finding newer applications in healthcare and wellness monitoring, including neurology, cardiology, diabetes, and drug delivery systems.
See also  Pharmacy Automation Devices Market Analysis, Status and Business Outlook 2022 to 2030

Growth Challenges

  • High Production Costs and Complexity: Complex designs, material breakdown, and high production costs pose challenges to the expansion of skin sensors. Stretchable electronics face issues related to functionality and durability.
  • Price Sensitivity: Price is a crucial factor in the adoption of wearable technology. However, increased production capacity and technical improvements are expected to reduce costs over time.

Regional Opportunities

  • Asia Pacific: This region is poised to experience significant growth in the skin sensors market, driven by the increasing use of e-skin products in cosmetics and medicine delivery systems, along with investments in machine learning (ML) and Artificial Intelligence (AI) for e-skin development.
  • North America: North America is witnessing substantial market expansion due to its aging population, ongoing technological advancements, and favorable reimbursement policies. Major players in the region are investing in research and development activities, further fueling market growth.

Competitive Landscape

Leading players in the skin sensors market include Medtronic plc, GE Healthcare, Abbott Laboratories, ADInstruments, Miravex Limited, Courage + Khazaka Electronic GmbH, MORITEX Corporation, Xsensio, Epicore Biosystems, Inc., and Truer Medical, Inc.

 

Browse Global Skin Sensors Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 – (By Type Coverage, By Application Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/skin-sensors-market

 

Similar Reports:

Biosensors Market: https://www.fairfieldmarketresearch.com/report/biosensors-market

Ultrasonic Oxygen Sensor Market: https://www.fairfieldmarketresearch.com/report/ultrasonic-oxygen-sensor-market

   

Contact

Fairfield Market Research

London, UK

UK +44 (0)20 30025888

USA (Toll-free) +1 (844) 3829746

Web: https://www.fairfieldmarketresearch.com/

Email: sales@fairfieldmarketresearch.com

LinkedIn | Twitter

This press release first seen on Brilad