Electronic Skin Patch Market

Electronic Skin Patch Companies - Abbott (US) and Dexcom, Inc. (US) are the Key Players

The Electronic Skin Patch Market is projected to grow from USD 15.0 billion in 2024 and is projected to reach USD 27.0 billion by 2029; it is expected to grow at a CAGR of 12.5% from 2024 to 2029. The growth of the Electronic Skin Patch market is driven by the increase in number of chronic diseases; and rising demand for remote health monitoring solutions.

Major players in the Electronic Skin Patch Market include Abbott (US), Dexcom, Inc. (US), Medtronic (Ireland), Insulet Corporation (US), Boston Scientific Corporation (US). Major strategies adopted by the players in the Electronic Skin Patch market ecosystem to boost their product portfolios, accelerate their market share, and increase their presence in the market include acquisitions, collaborations, partnerships, and new product launches.

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Major Electronic Skin Patch companies include:

For instance, in November 2023, Abbott launched the FreeStyle LibreLink app in India, providing a digital solution for FreeStyle Libre users. The app facilitated glucose monitoring through smartphones, eliminating the need for finger pricks for people with diabetes. It offered real-time glucose data and an eight-hour history, utilizing near-field communication to scan the sensor. It also allowed data sharing with healthcare professionals via LibreView and caregivers through LibreLinkUp, enhancing diabetes management.

In September 2023, Dexcom, Inc. and SocialDiabetes partnered to enhance diabetes management by integrating Dexcom CGM device data into the SocialDiabetes platform. This collaboration provides users with a comprehensive metabolic map that includes insulin dosing data, nutritional information, and physical activity data from various wearables. The integration aimed to optimize diabetes management by facilitating decision-making for patients and healthcare professionals.

Abbott:

Abbott is a global healthcare leader dedicated to enhancing lives through its portfolio of innovative technologies spanning diagnostics, medical devices, nutritional products, and pharmaceuticals. The company’s world-leading position in continuous glucose monitoring stems from its long-term focus on devices delivering accurate results faster and with minimal pain or disruption to diabetic patients. It revolutionizes its sensing technology with the FreeStyle Libre System for glucose readings. Libre is a small sensor worn on the arm that continuously measures the amount of blood glucose. It also offers FreeStyle Libre Pro System, a professional continuous glucose-monitoring device that lets doctors detect trends and track glucose-level patterns, helping them make therapy adjustments for their patients.

Abbott operates across four primary segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Under the Nutrition Products segment, the company provides science-based nutrition products for individuals of all ages, featuring leading brands, including Similac, Ensure, and PediaSure. Its Medical Devices segment offers advanced technologies, such as glucose monitoring systems, facilitating faster and less invasive healthcare solutions.

Dexcom, Inc:

Dexcom, Inc. is involved in designing, developing, and commercializing glucose monitoring systems for ambulatory use by people with diabetes. The company is one of the prominent player for solutions in diabetes care and management , and provides CGM technology to help patients and healthcare professionals to efficiently manage diabetes. Dexcom, Inc.’s flagship products include the Dexcom G6 and Dexcom G7, both FDA-approved integrated CGM systems. The G6 was the first to receive FDA authorization in an integrated system with compatible medical devices and electronic interfaces. It offers continuous glucose readings, mobile app integration, customizable alarms, and extended 10-day sensor use.

Dexcom operates within a single reportable segment, managing its business globally under this structure. The company’s technology platform encompasses sensor, receiver, and transmitter technology, disposable sensors, and reusable transmitters.  The company facses competition from established players, such as Abbott Laboratories, Medtronic plc, Roche Diagnostics, LifeScan, Inc., and Ascensia Diabetes Care. Furthermore, it explores opportunities to extend its offerings to other populations beyond diabetes management, such as individuals with pre-diabetes, obesity, pregnancy-related diabetes, and those in hospital settings. Its strategic partnerships with insulin pump companies and institutions developing insulin delivery systems underscore its commitment to innovation and expanding market reach.

Related Reports:

Electronic Skin Patch Market by Type (Monitoring & Diagnostic, Therapeutic), Wireless Connectivity (Connected, Non-connected), Application (Diabetes Management, Cardiovascular Monitoring, Temperature Sensing), End User and Region - Global Forecast to 2029

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Electronic Skin Patch Market Size,  Share & Growth Report
Report Code
SE 9015
RI Published ON
5/7/2024
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