Printed Sensors Market Size is projected to gain remarkable traction over 2021-2027, owing to the accelerating usage of flexible printed sensors and electronics in the smart packaging industry, coupled with the rapid integration of the printed sensor technology in wearable medical devices. In 2021, a team of researchers at AMBER and Trinity's School of Physics developed a next-gen, graphene-based printed sensing technology for use in emerging areas of wearable medical diagnostics and electronic devices due to their high flexibility and sensitivity as compared to the nano-enabled sensors.
Printed sensors are devices used in the development of smart and IoT-enabled products and are capable of monitoring their temperature, moisture, pressure, and motion. This printed sensor system has been gaining widespread adoption in healthcare and sports wearables including electronic skin patches to promote personal health.
Increasing popularity of touch-enabled electronics devices, alongside the mounting product acceptance for wearable applications in the defense, food, biomedical, and environmental industries, are the prominent factors fostering the global market trends. Moreover, the robust demand for cost-effective, miniaturized, and reliable sensors for monitoring the physical, biological, and other parameters and subsequent development of novel sensing devices will further boost the industry dynamics during the forecast timeline.
Considering the type, the printed biosensor segment is expected to register high revenue by 2027, on account of the growing demand for printed electrochemical biosensors in home-based point-of-care and basic research activities attributed to low cost, non-invasive, and consistent monitoring of biomolecules and cells. The segment expansion will further be bolstered by the rapid product deployment to help diabetic patients track their blood sugar levels.
On the regional front, Europe is poised to emerge as a lucrative revenue prospect for the printed sensors market over the coming years, as a result of the high spending in the semiconductor sector, alongside the increasing R&D of smart sensors in countries such as Germany, Italy, and France. In 2020, several European nations committed to make an investment of over USD 171 billion for the local production and design of semiconductors and processors.
Key participants of the market include GSI Technology, Canatu Oy, KWJ Engineering Inc., MC10, Inc., Peratech Holdco Ltd., ISORG, PST Sensors, Ensurge Micropower ASA (formerly Thin Film Electronics ASA), Tekscan, Inc., PolyIC GmbH & Co. KG, and Interlink Electronics, Inc., among others. These companies are incorporating varied efforts including new product launches and mergers & acquisitions to expand their presence in the global market.
For instance, in June 2021, Tekscan unveiled its new pressure mapping software interface, I-Scan 9, designed to evaluate and measure interface pressure between two surfaces through the usage of thin & flexible sensors. Meanwhile, Artemis Capital Partners announced the acquisition of Tekscan in September 2020, with an objective to aid the semiconductor manufacturer in reaching the next phase of growth through the advancement of its ultra-thin force & pressure sensing technology.
The rapid increase in the coronavirus-infected cases worldwide has led to business shutdowns, an unprecedented decline in GDP, and record unemployment across various industrial sectors including semiconductor, producing a shock in both its demand and supply. Semiconductor demand was estimated to fall by 5-15% in 2020 as compared to the previous year, due to its reduced applications across automotive, consumer electronics, and other sectors, which in turn, created key challenges for the growth of the industry.
However, increasing awareness about the potential use of wearable sensors for disease detection and monitoring among patients during the pandemic may result in a gradual recovery in the demand for printed sensors. Wearable sensor data may alert patients and providers of a potential COVID-19 infection before the symptoms become severe. These aforesaid factors, alongside the strong focus of semiconductor manufacturers on evolving post-crisis, may help the industry regain momentum over the forthcoming years.