Global Skin Market by Product, by Distribution Channel, by Region, Segments and Forecasts 2020–2026

Global Skin Market size is anticipated to enlarge in the forecast period 2020–2026. Growing demand for skin care products by young population, change in lifestyle caused to latest trends, urbanization and demand for natural and organic products is instrumental in shaping the market growth.

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The skin is one of the main organs of human body and as such it implements many different and relevant functions. Electronic skin is an artificial skin that mimics human skin’s sensor ability via electronics. Electronic skin finds possible application in areas such as humanoids and industrial robotics, artificial prosthetics, biomedical instrumentation, cyber physical systems, etc.

Increasing government initiatives on robotics technology, increasing expenditure by public and private companies for development of electronic sector such as development of electronic skin or e-skin that has similar properties of human to sense pressure, temperature, and other complex environmental function or conditions and increasing demand form healthcare sector are major factors driving growth of the global electronic skin market. In addition, e-skin has wide application in robotics, artificial intelligence, and human–machine interfaces (HMI), which is another factor expected to boost growth of the global electronic skin market. Moreover, multi-functional electronic skin that have various features such as multi-modal force sensing, temperature sensing, humidity detection, and self-healing abilities is expected to support growth of the global electronic skin market.

However, high initial set-up cost is a major factor restraining growth of the global electronic skin market. In addition, high cost of product and complex designing are other factors expected to hamper growth of the global electronic skin market to certain extent.

Technological advancements such as fabrication of highly intelligent e-skins that can sense and respond to variations in external environment and increasing investment and R&D activities from major players is expected to present new opportunities in terms of revenue to players operating in the global electronic skin market over the forecast period.

Market Trends, Drivers, Restraints and Opportunity:

Growing investments mainly in emerging countries and innovative practices used in the marketing of skin care products induces the market growth in the forecast period. In addition, the growing demand for skin care products is likely to induce in a high market growth
Rise in aging population and growth in per capita expenditure on skin care products triggers the commercial sphere. Ongoing R&D activities are mainly influencing the market growth in the years to come
Availability of synthetic products with no side-effects are trending and enjoy a high popularity in youth. There is also a rise in concern for natural products that offer UV protection which in turn impels the market growth
Geriatric population with demand for anti-aging creams is likely to create novel opportunities in the years to come. Therefore, manufacturers are now emphasizing on development of new formulations that aim at resisting the aging factors
Market challenges such as costly treatments, and lack of technical competence is likely to constrict the market growth in the years to come. Moreover, rise in demand for organic products is expected to have a positive influence over the market