According to the latest report published by Market Research Future (MRFR), the worldwide medical smart textile market is set to exhibit a CAGR of 9.5% over the forecast period of 2019-2027. The report utilizes available market data to offer a complete understanding of the medical smart textiles market’s present scenario and the future state.
Major Key players in the global medical smart textile market include names such as Intelligent Clothing Ltd. (UK), Google Inc. (US), Interactivewear (Germany), Gentherm (US), Schoeller Textiles AG (Switzerland), Textronics, Inc. (US), Vista Medical Ltd. (Canada), International Fashion Machines (US), and Sensoria Inc. (US).
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Medical Smart Textile Market Insights
Smart fabrics and textiles are new fields of research, which have wide applications in healthcare. Sensors that are integrated into textiles and have contact with the body are able to capture physiological signals. Recently, medical engineering has brought a revolution in the field of medicine promoting new methods for the treatment and diagnosis of diseases. The demand for medical sensors and monitoring devices, evolving methods of diagnosis, increasing burden of diseases, and extensive use of wearable medical devices are driving the growth of this market. The higher cost of smart textiles acts as a restraint for this market.
The Global Medical Smart Textile Market is segmented on the basis of technology, application, and end user.
By application, the Global Medical Smart Textile Market is segmented into surgery, hygiene, drug release systems, bio-monitoring, therapy, and wellness.
By technology, the Global Medical Smart Textile Market is segmented into smart fabric technology, textile sensors, and wearable and joining technology.
On the basis of end use, the Global Medical Smart Textile Market is segmented into hospitals, clinics, and others.
Regional Market Summary
The medical smart textile market is dominated by North America owing to the extensive use of medical devices and applications in medical engineering for monitoring vital health indicators. It consists of two regions, namely, North America and South America. Most of the market players are engaged in continuous technological advancements in medical devices for ease of diagnosis, monitoring, and treatment.
It is estimated that Europe stood second in the global medical smart textile market. Rising government initiatives to promote the healthcare sector and increased adoption of research and development activities in the healthcare domain drive the market in this region. Moreover, the entry of market leaders into strategic partnerships and collaborations with the chemical industry contributes to the growth of the market in Europe.
The Middle East and Africa holds the least share in the global medical smart textile market due to the presence of stringent government policies and poor economies.
Asia-Pacific is likely to witness growth in the medical smart textile market during the forecast period owing to the increasing number of healthcare organizations, increasing prevalence of diseases, extensive demand for advanced medical devices, and increasing applications of technology in the early diagnosis of diseases. Moreover, the increasing prevalence of geriatric population in the region influences the market growth. China, India, and Japan are the key market players in this region and Asia-Pacific is expected to be the fastest growing market for medical smart textiles.
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Detailed Table of Contents
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
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