Printed Electronics Market In Healthcare Industry - Growth, Trends, Covid-19 Impact, And Forecasts

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The Printed Electronics Market in Healthcare Industry is anticipated to witness a CAGR of 20.6% over the forecast period (2021 - 2026). Low cost of manufacturing, the evolvement of digital print technology, rise in funding activity and the healthcare industry's inclination towards newer technologies are the factors responsible for the growth of the printed electronics market in the healthcare industry.

- Printed electronics offers the user with photonic devices and printed electronics on various kinds of substrates; the printing technologies in use include, flexography, inkjet, gravure, and screen printing. These techniques are used 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.
- Besides, the healthcare sector has profited from the latest developments in materials for printed electronics, ranging from integrated Nanoscale 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.
- In the long run, the costs are anticipated to decline owing to the growing competition and emerging presence of multiple players. This is fueled by the digital transformation and inclination towards newer technologies in the healthcare industry. Various countries across the world are willing to increase their expenditure on healthcare for revolutionizing patient care. For instance, the US spent nearly 18% of the country's total GDP equivalent to USD 3.2 trillion, in 2018

Key Market Trends

Increasing Penetration of Digital Print Technology in Healthcare Industry

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- The digital print technology is making strong inroads into the printed electronics market at a much faster pace, due to its cost-effectiveness and high-quality professional 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 digital print technology. This technology can be applied to any kind of material, including glass, paper, and metal. The digital print technology made the process of printed electronics packaging faster, as this method does not require the use of printing plates and press setup.
- A major trend observed in the printed electronics industry is the proliferation of stock-keeping units that fragment long print runs into several shorter runs. Digital printing is gaining prominence with its ability to print short runs with minimal downtime. Various print technologies used for the purpose include flexography, inkjet, gravure, and screen printing. Flexography technology remains a tried and trusted process for a wide range of materials.
- According to an article published in Printing News, only about 6% of business products are produced digitally. However, the experts believe that number could get into double digits within the next few years. A study conducted by Quocirca revealed that approximately 64% of businesses believe that digital printing will be implemented in their daily business, by 2025.

Asia-Pacific Is Expected To Grow At a Significant CAGR

- Asia-Pacific is estimated to be the fastest growing region owing to the presence of countries, such as China and India. Increasing disposable income and healthcare expenditure, growing GDP and the increasing need to position the brand better are some of the factors driving the market for printed electronics. Statistics from the National Bureau of Statistics of China revealed that China's Disposable Income per Capita had increased from 3570.8 in 2012 to USD 5726.7 in 2018.
- Asia-Pacific printed electronics market is unique compared to the other regions because of its size and diversity. The region accounts for more than 60% of the global population, and its population has grown nearly four-fold in the 20th century alone. This rise in population is a huge advantage in terms of economic potential and aids the suppliers of the printed electronics industry.
- Additionally, the 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 the 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 the Asia-Pacific are set to boom over the next five years.

Competitive Landscape

The Printed Electronics Market in Healthcare Industry is highly competitive and is currently dominated by a few players with their technological expertise in printed electronics technology. The global market is expected to be consolidated in nature, and the major players with a prominent share in the market are focusing on product developments and strategic collaborative initiatives to increase their market share and their profitability. However, the market is expected to witness growing competition and the emerging presence of multiple players during the forecast period. Carre Technologies Inc., Jabil Inc., Bebop Sensors Inc., Sensing Tex S.L, E Ink Holdings Inc., Coatema Coating Machinery GmbH, NextFlex, Agfa-Gevaert N.V., and DowDuPont Inc. are some of the major players present in the current market.

- June 2019 - Engineers at MIT designed pliable, 3-D-printed mesh materials. The flexibility and toughness of these materials can be tuned to emulate and support softer tissues such as muscles and tendons.
- June 2019 - Engineers at The University of Texas at Austin developed a new wearable technology that could make heart health monitoring easier and more accurate than existing electrocardiograph machines. This graphene-based wearable device is made from stretchy, lightweight material and can be placed on the skin to measure a variety of body responses, from electrical to biomechanical signals.

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