Wearable Skin Patches Market to Grow to Over $20 Billion Per Year by 2029, IDTechEx Research Reveals

Wearable skin patches market
Image credit: John Rogers Lab, Northwestern University

Smart skin patches are widely used in wearable devices. These patches use laminar batteries, often partially printed, plus printed electrode patterns to deliver drugs, cosmetics, tattoos and potentially performance boosting chemicals such as caffeine through the skin. IDTechEx Research has released a detailed update on their research on wearable skin patches titled “Electronic Skin Patches 2019-2029.” According to the report, $7.5 billion in revenue was made from electronic skin patches in 2018 and a forecast for this to grow to over $20 billion per year by 2029.

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With extensive research conducted by leading industry experts over more than a decade around areas such as flexible electronics and wearable technology, the report covers 26 application areas and over 100 companies, says a press release.

There’s a diverse range of products and target markets within the wearable skin patches space. In 2019, the two leading market sectors by far are in the area of diabetes management and in cardiovascular monitoring. Each of these spaces has grown over the last decade to generate billions of dollars in revenue per year for the companies involved. However, in each of these spaces, success is not guaranteed; leading players in each space have deployed occasionally contrasting commercial strategies in order to maintain and increase their overall revenue and market share, the report said. The IDTechEx Research report contains detailed, lengthy chapters, including descriptions of the product landscape (including competitive product types, regulatory implications and so on) and technology options, profiles and interviews with leading players, historic market data and market forecasts for each.

tattooed man wearing a skin patch
This wearable light patch developed by CareWear allow safe application of light therapy on tattooed skin (Image credit: CareWear)

The electronic skin patches are employed in a diverse range of products, including medical patient monitoring, motion sensing, temperature sensing, drug and cosmetic delivery patches, smart bandages for wound care and more.

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IDTechEx also organizes leading industry conferences and exhibitions covering flexible and wearable electronics. With a combined total of over 6,000 delegates each year and presentations from all of the leading players in these spaces.

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