The material, a silicone-based polymer that may be applied on the skin as a thin, imperceptible coating, mimics the mechanical and elastic properties of healthy, youthful skin.
In tests with human subjects, the researchers found that the material was able to reshape "eye bags" under the lower eyelids and also enhance skin hydration.
This type of "second skin" could also be adapted to provide long-lasting ultraviolet protection, researchers said.
As skin ages, it becomes less firm and less elastic - problems that can be exacerbated by sun exposure. This impairs skin's ability to protect against extreme temperatures, toxins, microorganisms, radiation, and injury.
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The researchers, including Alpesh Patel, formerly at US-based beauty company Living Proof, and Nithin Ramadurai from Olivo Laboratories, set out to develop a protective coating that could restore the properties of healthy skin, for both medical and cosmetic applications.
These polymers can be assembled into a network arrangement known as a cross-linked polymer layer (XPL).
The researchers then tested the materials in search of one that would best mimic the appearance, strength, and elasticity of healthy skin.
The best-performing material has elastic properties very similar to those of skin. It easily returned to its original state after being stretched more than 250 per cent (natural skin can be elongated about 180 per cent).
The researchers performed several studies in humans to test the material's safety and effectiveness.
In one study, the XPL was applied to the under-eye area where "eye bags" often form as skin ages.
The material applied a steady compressive force that tightened the skin, an effect that lasted for about 24 hours.
In another study, the XPL was applied to forearm skin to test its elasticity. When the XPL-treated skin was distended with a suction cup, it returned to its original position faster than untreated skin.
The research was published in the journal Nature Materials.