Medical Smart Textile Market Research Report- Forecast To 2027

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
Global Medical Smart Textile Market Share (%), by Region, 2017
Sources: National Electronic Health Records Survey, US Department of Health & Human Services, National Center for Health Statistics
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.
Research Methodology
Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analyzing historical trends and current market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.
‧ Primary Research
Extensive primary research was conducted to gain a deeper insight into the market and the industry performance. In this particular report, we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of the major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.
‧ Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and commercial study of the global medical smart textile market. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company websites, international organization of chemical manufacturers, some paid databases, and many others.
Intended Audience
‧ Contract Research Organizations (CROs)
‧ Academic Medical Institutes and Universities
‧ Government and private laboratories
‧ Research and Development (R&D) companies
‧ Market research and consulting service providers
Market Segmentation and Key Market Players
Global Medical Smart Textile Market, by Technology
‧ Smart Fabric Technology
‧ Wearable Technology
‧ Textile Sensors
‧ Joining technology
Global Medical Smart Textile Market, by Application
‧ Bio-Monitoring
‧ Surgery
‧ Hygiene
‧ Drug-Release System
‧ Therapy and Wellness
Global Medical Smart Textile Market, by End-User
‧ Hospitals & Clinics
‧ Academic & Industrial Research
‧ Others
Global Medical Smart Textile Market, by Region
‧ The Americas
‧ Europe
‧ Asia-Pacific
‧ The Middle East & Africa
Global Medical Smart Textile Market, by 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)