Market Trends of Printed Electronics Industry
This section covers the major market trends shaping the Printed Electronics Market according to our research experts:
Increasing Geriatric Population to Drive the Growth
- With the increasing global population, the aged population is also increasing. According to the World Health Organization (WHO), by 2030, the share of the population aged 60 years and over is expected to increase from 1 billion in 2020 to 1.4 billion, which will double to about 2.1 billion by 2050. The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
- As older people are more prone to health-related issues, such trends are encouraging healthcare service providers to focus on developing innovative healthcare solutions not only for treatment but also for the overall care of the aged population, which involves constantly tracking their health condition by using tracking devices and sensors.
- Printed electronics are fast emerging to be a feasible solution for healthcare service providers to do all this remotely, as the technology enables the integration of tracking and health monitoring components such as sensors into the day-to-day use of things such as smartwatches and other wearables and even in clothes in some cases.
- Further innovation in printed electronics technology can facilitate continuous data transmission from a patient's garment directly into their electronic health records, reducing interactions between providers and patients while improving the quality of the data received from the patients. Additionally, advances in sensor technology and microelectronics can also improve clinical trials of new treatments. For instance, electronics on adhesive patches placed on the skin can enable doctors to control and monitor the dosage of prescribed medicines.
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Asia-Pacific to Hold a Significant Market Share
- 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 factors driving the market for printed electronics.
- Asia-Pacific printed electronics market is unique compared to the other regions because of its size and diversity. The region accounts for about 60% of the global population and 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 increasing geriatric population, especially in countries such as Japan, China, etc., is also among the factors supporting the studied market's growth, as the demand for innovative health-tracking devices is relatively higher among this segment. For instance, Japan has the highest senior population ratio in the world, with more than 29% of the population aged over 65 years as of October 2022. (Source: Ministry of Internal Affairs and Communications).
- Furthermore, a large pool of people from the region suffers from lifestyle-related diseases, such as diabetes, obesity, and heart disease, among others. This is raising the concern levels in societies to diagnose such diseases early, which is, in turn, creating a favorable market scenario for the growth of the studied market in the region.
- The increasing investment by the public and private sectors to develop the healthcare infrastructure across the region is also expanding the use cases of printed electronics in the region's healthcare sector. Furthermore, the region is fast becoming the manufacturing hub for the global electronics industry. Also, it works in favor of the studied market as printed electronics providers are increasing their investment to expand their presence in the region.
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