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.
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Segmentation
The Global Medical Smart Textile Market is segmented on the basis of technology, application, and end user.
By technology, the Global Medical Smart Textile Market is segmented into smart fabric technology, textile sensors, and wearable and joining technology.
By application, the Global Medical Smart Textile Market is segmented into surgery, hygiene, drug release systems, bio-monitoring, therapy, and wellness.
On the basis of end use, the Global Medical Smart Textile Market is segmented into hospitals, clinics, and others.
Key players
- 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),
- Gentherm (US).
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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