Report: Electronic Skin Patch Revenue to be Over $30B by 2031
IDTechEx released its latest research on the commercialization of flexible, wearable, and smart skin patches.
Interest in electronic skin patches soared as a by-product of the significant hype and market growth around "wearables" starting in 2014. However, several product types within the sector transcend this hype.
The report reveals significant opportunity, with revenue from electronic skin patches forecast to be over $30 billion by 2031.
The report's author James Hayward, Principal Analyst at IDTechEx, explains that several skin patch product areas, particularly in diabetes management and cardiovascular monitoring, have superseded incumbent options in established markets to create billions of dollars of new revenue each year for the companies at the forefront of this wave. However, he cautions that success is not ubiquitous; each market discussed within the report sits within a unique ecosystem, with different players, drivers, limitations and history to build on.
