June 18, 2024

Printed Electronics Market Driven by Growing Applications in Healthcare is estimated to be valued at US$ 7114.14 Mn in 2024

Printed electronics refer to electronic devices and circuits created through printing technologies such as inkjet printing, screen printing, flexography, gravure and others on various substrates. Printing electronics provide significant advantages over traditional electronics such as low-cost, light-weight and flexible substrates. Major applications of printed electronics include photovoltaics, Displays, RFID tags, batteries, sensors and others. Growing healthcare sector is increasingly adopting printed electronics for medical devices, drug delivery and biosensors applications. This helps in reducing treatment costs and improving quality of life for patients.

The global Printed Electronics Market is estimated to be valued at US$ 7114.14 Mn in 2024 and is expected to exhibit a CAGR of 22.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in printed electronics market is growing adoption of printed batteries. Unlike conventional lithium-ion batteries which are rigid, difficult to shape and hazardous, printed batteries offer benefits like flexibility and compactness making them suitable for wearable devices and implantable medical devices. Another key trend is development of printed sensors for healthcare monitoring. Printed sensors help in non-invasive monitoring of various health parameters like blood glucose levels, heart rate, respiration rate etc and transmit the data wirelessly for remote patient monitoring. This helps in early detection of health issues and timely intervention. Development of new printable materials, faster and higher resolution printing techniques will further accelerate adoption of printed electronics across various end use applications.

Porter’s Analysis
Threat of new entrants: New entrants face high costs of production plants, licensing and agreements which pose high entry barriers.
Bargaining power of buyers: Buyers have high bargaining power due to presence of many players and product differentiation. Buyers can negotiate on prices and demand quantity discounts.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials. However, suppliers hold patents that pose switching costs for buyers.
Threat of new substitutes: Threat of new substitutes is moderate to high as flexible electronics and printed flexible hybrid electronics can be used as substitutes.
Competitive rivalry: The printed electronics market is highly competitive with major players differentiating through technology and quality.

Key Takeaways
The Global Printed Electronics Market Growth is expected to witness high growth.

Regional Analysis: Asia Pacific region dominated the market in 2023 due to presence of key players from China, Japan and South Korea. Countries such as China, Japan, South Korea and India have emerged as major printed electronics markets.

Europe is also expected to grow at a decent pace during the forecast period supported by huge investments in R&D by companies from Germany, UK and Italy. North America remains another major region due to increasing demand from healthcare, automotive and consumer electronics sectors mainly in the US.

Key players operating in the printed electronics market are Regenacy Pharmaceuticals, Inc., Astex Pharmaceuticals, 4SC AG, CellCentric Ltd., Celleron Therapeutics Ltd., Bristol-Myers Squibb Company, Oryzon Genomics S.A., ChromaMedicine, Inc., Epizyme, Inc., and EpiGentek Group Inc. Major players are focusing on expanding their production facilities and collaborating with component providers to provide innovative printed flexible hybrid electronics.

Note:
Source: Coherent Market Insights, Public sources, Desk research
We have leveraged AI tools to mine information and compile it