Global Printed Electronics in Healthcare Market - Segmented by Type (Stretchable Electronics, Foldable Electronics) and Geography - Growth, Trends and Forecasts (2018 - 2023)
Printed electronics in healthcare market is expected to register a CAGR of 24.6% during the forecast period, 2018 to 2023. The scope of the report is limited to technology and the type of electronic products offered by major players in the market. Apart from this, the report also focuses on various types of technologies used for printing purposes in this market; while the regions considered in the scope of the report include North America, Europe, and others. The study also focuses on various trends in the market, such as the evolvement of digital print technology and its effects on the market.
Rise in funding activity and the healthcare industry’s inclination toward newer technologies are the factors responsible for the growth of the printed electronics market in the healthcare industry. In the long run, the costs are anticipated to decline owing to the growing competition and emerging presence of multiple players. Printed electronics offers the user with photonic devices and printed electronics on various kinds of substrates; the printing technologies in use include, rotogravure, flexography, screen, digital and lithography. These techniques use ink to print on substrates, such as cloth, paper, and plastics. This method of printing is widely used on wearable devices, by the sports industry, and for flexible screens, among others. In addition, the healthcare sector has profited from the latest developments in materials for printed electronics, ranging from integrated Nano scale sensors, electronics and microfluidics, to sophisticated synthetics. Moreover, innovations and high adoption among the consumers have led to the development of even more stretchable, flexible, and conformal biosensors for use in medical monitoring, diagnostics, and drug delivery.
Evolvement of Digital Print Technology to Drive the Growth
The digital print technology is making strong inroads into the printed electronics market at a much faster pace, due to its cost-effectiveness and professional high-quality printing in the healthcare sector. The rapid ascension of digital print technology has made the printed electronics market more sophisticated, thus, increasing the adoption of printed electronics, globally. Versatility and flexibility, coupled with high graphic standards, are the key growth features of the digital print technology.
Products, such as UV inkjet and water-based inkjet, are making their way into the market. The UV digital inkjet color presses are capable of producing high densities and finer dots, with faster speeds, and are propelling the growth of the digital printing technology market, which, in turn, is driving the printed electronics in healthcare market
Stretchable Electronics to Witness the Highest Growth
Stretchable electronics, also known as soft electronics, have witnessed an increased adoption in the healthcare industry, owing to their ability to bend, stretch, and twist easily to mold into the shape of the required object, such as implantable devices, and their capability of transferring data from and to computers and smartphones. It is used in different forms, such as thin, tattoo-like electronics that can be directly mounted onto the skin (such as sensors of physiological health) and physically flexible electronics that can be implanted into the body (such as post-surgery monitoring devices). With the growing need for real-time monitoring, particularly, of patients with critical conditions, as well as health-condition monitoring and management in military and sports, this segment has witnessed a robust growth.
Asia-Pacific is the Largest Market
Latest technological breakthroughs have assisted the advancement of new printed electronics that can make the overall processes more efficient and can significantly improve accuracy in various applications. There have been a series of new product launches and mergers & acquisitions in Asia-Pacific to take advantage of this opportunity. The major driver behind the investments has been the continuous evolution and application of new technologies to unlock enormous volumes that were previously considered non-commercial. With these series of investments, cardiology, sensor, and diagnostics applications in Asia-Pacific are set to boom over the next five years.
Key Developments in the Market