Market
Scenario:
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 market for medical smart textiles is expected to
register a CAGR of approximately 9.5% during the forecast period 2018–2027.
Segmentation
The
global medical smart textile market is segmented on the basis of technology,
which includes smart fabric technology, textile sensors, and wearable &
joining technology. Based on application, the market is segmented into surgery,
hygiene, drug-release system, bio-monitoring, therapy, and wellness. On the
basis of end-users, the market is segmented into hospitals, clinics, and other
end-users.
Key
players
Some of
the key players in the global medical smart textile market are Google Inc.
(US), Intelligent Clothing Ltd. (UK), International Fashion Machines (US),
Textronics, Inc. (US), Interactivewear (Germany), Sensoria Inc. (US),
Schoeller Textiles AG (Switzerland), Vista Medical Ltd. (Canada), and Gentherm
(US), 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.
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.
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.
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Detailed
Table of Contents:
Chapter 1. Report Prologue
Chapter 2. Market
Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research
Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor
Analysis
5.1 Porters 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
...Continued
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