New York, USA, June 05, 2023 (GLOBE NEWSWIRE) -- Medical Smart Textile Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Medical Smart Textile Market Information By Technology, Application, End-User And Region - Forecast till 2030", the market size is predicted to reach USD 3.1 Billion by the end of the year 2030, by registering a CAGR of 6.40%.
Market Scope
Smart textiles are made of materials incorporating technologies that give the wearer greater functionality. It detects environmental cues or stimuli, such as those from chemical, magnetic, thermal, mechanical, and various other sources, and responds to them. The healthcare industry uses medical smart textiles the most widely of any other industry. The textiles have sensors built into them that are in perpetual interaction with the human body and can record physiological changes. Due to their expanding range of possibilities in end-user industries, the demand for different medical smart textile products continues steadily rising globally. Medical smart textile is primarily in demand from end-use sectors like the military, defense, and healthcare.
Innovative trends will lead to an increase in demand in nations that are developing and developed. This can be credited to elements like a higher standard of living, increasing salaries, environmental and safety consciousness, technological advancements in medicine, growing auto industries, and higher healthcare spending. The sensors built into textiles that encounter body parts can record physiological signals, sense the environment, and respond accordingly. These textiles are sensitive to external stimuli and respond accordingly. The significant demand for medical sensors for surveillance equipment in the healthcare industry is one of the key variables anticipated to fuel market growth and demand for medical smart textiles. The rapid development of diagnostic methods and the broad adoption of mobile medical devices are also expected to fuel the explosive development of the global marketplace for medical smart textiles over the forecast period.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 3.1 Billion |
| CAGR | 6.40% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, Application and End-User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising trends for sophisticated gadgets that provide various additional features |
| Rising advancements in the technological field of the electronic sector to minimize the size of components |
Medical Smart Textile Market Competitive Landscape:
The noteworthy players in the medical smart textile market are:
- Pireta
- AiQ Smart Clothing
- Camira Fabrics
- Carre Technologies Inc
- Schoeller Switzerland
- Vista Medical Ltd
- Sensoria Inc.
- Gentherm
- Siren
- 3teks.
Medical Smart Textile Market Trends:
Market Drivers:
The rising advancements in the technological field of the electronic sector to minimize the size of components including controls, sensors, and batteries in order to provide an easy amalgamation of electronics with textile is the major factor that is driving the global medical smart textile market growth. Like how consumer appetite for medical smart textiles is expanding quickly, the disease burden is expected to increase along with the market's expansion. Additionally, the increased potential for enhancement in the healthcare sector and the incorporation of smart devices through tracking and monitoring patient progress is anticipated to play a significant role in the market growth of smart medical textiles. The major factors driving the global market for smart textiles include the combination of smart textiles and wearables, nanotechnology in clothing, smartphone use, the healthcare sector's adoption of wearables, and applications in the military, defense, and sports industries.
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The global market for smart textiles is experiencing significant growth due to expanding R&D in the sector and rising demand in developing nations like China and India. In the coming years, the medical smart textile market is anticipated to experience significant growth due to the quick development of diagnostic techniques and the significant increase in study and development in this area.
Restraints
According to estimates, the medical smart textile market will grow slowly due to the high cost of the products and the high investment required, but it may face difficulties as it expands due to a lack of standards and regulations.
COVID 19 Analysis
The global pandemic has impacted many industries, and it is anticipated to have a long-term effect on expanding the medical smart textile market over the forecast period. The market for medical smart textiles has seen increased demand due to its sensor, which recognizes physiological alterations within the human body due to the rising number of incidents involving COVID-19 worldwide.
Medical Smart Textile Market Segmentation
By application, the market includes bio-monitoring, surgery, therapy, and wellness. By end user, the market includes hospitals and clinics. By technology, the market includes wearable technology and textile sensors.
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Medical Smart Textile Market Regional Insights
Due to the broad adoption of medical devices in this region, America currently holds a disproportionately large share of the global market for medical smart textiles. Applications such as those used in medical technology to track vital health indicators also increase demand for smart textiles in this region. Brazil is anticipated to experience development in the smart textile market and is the regional market leader. Brazil has the ninth-largest GDP in the world and the fifth-largest economy in purchasing power parity. Brazil is the sole country in South America to play a significant role in the world's textile industry.
The second-highest share of the worldwide marketplace for medical smart textiles is held by Europe, which is experiencing increased government disbursements to back the healthcare sector. Due to the high demand for technologically sophisticated healthcare supplies and increasing curiosity in technological advances for the early detection of diseases, the Asia-Pacific region is projected to see the fastest growth in the international market for medical smart textiles.
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