Global Medical Smart Textile Market:
Information by Technology (Wearable Technology, Textile Sensors and others), by
Application (Bio-Monitoring, Surgery, Therapy and Wellness and others), by End
User (Hospitals and Clinics and others) and by Region (Americas, Europe,
Asia-Pacific and the Middle East & Africa) - Forecast till 2027
Market Insights:
The Global Medical Smart Textile Market is expected
to register a CAGR of 7.51% to reach 2,105.32 Million by 2027. Medical smart
textile is a new field of research and is most widely used in the healthcare
sector. Sensors are integrated into the textiles, in continuous contact with
the human body, and could capture physiological changes occurring within the
body. The demand for medical smart textiles is increasing due to the rising
burden of diseases, evolving methods of diagnosis, and extensive use of
wearable medical devices. These factors are expected to fuel the growth of the
global medical smart textile market. However, the high cost of smart textiles
is anticipated to hamper the market growth.
Key Players
The global medical
smart textile market overview by Market research Future contains The top prominent
players like Schoeller Switzerland, Vista Medical Ltd, Sensoria Inc.,
Gentherm, Siren, Pireta, AiQ Smart Clothing, Camira Fabrics, Carre Technologies
Inc, and 3teks.
Some of the key strategies followed by
players operating in the global medical smart textile market were innovation,
product development, and acquisition & mergers.
- In
February 2019,
Gentherm signed a partnership agreement with ThermoAnalytics, Inc., a
leading thermal modeling software development firm for the advancement of
human thermal comfort predictions.
- In June 2019, Pireta developed a unique
process that adds conductive metallic pattern directly into textile
clothing without changing the fabric feel. These wearable smart garments
and e-textile enabled physicians to diagnose diseases in their early
stages and provide better treatment options. The launch of this device
would help the company to increase its revenue in the future.
- In
July 2019,
Camira Fabric acquired Luna Textiles, a US-based company that manufactures
fabric for healthcare, hospitality, and other lounge seating purposes.
This acquisition helped Camira Fabric to increase its revenue.
Market
Dynamics
The rising burden of diseases is expected to fuel
the growth of the global medical smart textile market during the forecast
period. According to the Global Burden of Disease Study in 2017, from 1990 to
2017, the leading causes of premature deaths were neonatal disorders, ischemic
heart disease, lower respiratory infections, diarrhea, chronic obstructive
pulmonary disease (COPD), and strokes. These diseases accounted for more than 1
million deaths worldwide in 2017. Additionally, the Global Burden of Disease
Study in 2017, stated that there was a change in the mortality rate due to
excess drug-resistant tuberculosis from 2007 to 2017.
Segmentation
The global
medical smart textile market has been segmented by technology, application, and
end user. The market, based on technology, has been divided into wearable
technology, textile sensors, and others. Based on application, the medical
smart textile market has been segregated into bio-monitoring, surgery, therapy,
and wellness and others. The global medical smart textile market, based on end
user, has been bifurcated into hospitals and clinics and others. The hospitals
and clinics held a share of 67.3% in 2018.
Regional Market Summary
The global medical smart textile market, based on
region, has been divided into the Americas, Europe, Asia-Pacific, and the
Middle East & Africa. The Americas is likely to dominate the global medical
smart textile market. The growth in this region can be attributed to the
extensive use of medical devices. Moreover, applications in medical engineering
for monitoring vital health indicators help in maximizing the growth of the
market in this region. Europe held a substantial share in the global medical
smart textile market. This can be attributed to the rising government
expenditure to promote the healthcare sector in the region. For instance,
according to Eurostat, in 2016, healthcare expenditure per person was EUR 5,000
or higher in three EU member states that are Luxembourg (EUR 5,600), Sweden
(EUR 5,100) and Denmark (EUR 5,000), as the per-person healthcare expenditure
is very high in Europe and is continuously growing. Asia-Pacific is estimated
to be the fastest-growing region in the global market. This is due to the
extensive demand for advanced medical devices and increasing applications of
technology in the early diagnosis of diseases fueling the growth of the medical
smart textile market in the region. The medical smart textile market in the
Middle East & Africa is expected to witness a modest market growth rate
from 2019 to 2027. The Middle East would lead the market growth in this region.
Increasing awareness about medical smart textiles is expected to drive market
growth during the assessment period.
Browse More Medical Devices Reports @ https://www.marketresearchfuture.com/categories/medical-devices-market-report
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