Smart Clothing in Healthcare Market: Current Analysis and Forecast (2023-2030)

Report Description

The Smart Clothing in Healthcare Market was valued at USD 500 million in the year 2022 and is expected to grow at a strong CAGR of around 26% during the forecast period (2023-2030). The Smart Clothing in Healthcare Market is a rapidly growing market that includes clothing and accessories that are equipped with advanced technologies such as sensors, GPS, and Bluetooth. These technologies enable clothing to monitor various metrics related to the wearer’s health and fitness and provide valuable data that can be used to optimize performance and improve overall health and well-being. Additionally, the rising investments and product launches in the Smart Clothing in Healthcare Market are further contributing to the growth of the market. For instance, in May 2021, Nextiles launched a smart fabric that tracks human performance data.

Some of the major players operating in the market include AiQ Smart Clothing; WEARABLE X.; Vulpés Electronics GmbH; Athlos; CARE TECHNOLOGIES; Sensoria Inc., DuPont, Myontec, TORAY INDUSTRIES, INC., KBS Fashion Group.; and Noble Biomaterials. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product type, the innerwears segment held a dominating share of the market in 2022”

Based on product type, the market is segmented into upper wear, lower wear, inner wear, and others. Amongst these, the innerwear segment dominated the market in 2022. The innerwear segment is driven by several factors, including a growing interest in health and wellness, advances in technology, and a focus on innovation. In addition, the segment is expected to be influenced by factors such as increasing disposable income, a growing awareness of environmental issues, and a trend toward a more active and sustainable lifestyle.

“Amongst distribution channels, specialty stores held the majority share of the market in 2022”

Based on the distribution channel, the Smart Clothing in Healthcare Market has been classified into specialty stores, online stores, and others. Among these, specialty stores captured the majority share of the Smart Clothing in Healthcare Market in 2022. The specialty stores segment is driven by several factors, including the increasing demand for advanced and functional clothing, advances in technology, and the growing interest in health and wellness. In addition, the segment is expected to be influenced by factors such as increasing disposable income, a growing awareness of environmental issues, and a trend toward a more active and sustainable lifestyle.

“Asia Pacific dominated the Smart Clothing in Healthcare Market in 2022”

The Smart Clothing in Healthcare Market in the Asia Pacific region is expected to be driven by a range of factors, including increasing disposable income, a growing awareness of environmental issues, and a trend toward a more active and sustainable lifestyle. In addition, the market is expected to be influenced by factors such as the increasing adoption of wearable technology and the growing popularity of fitness and wellness activities in the region.

Smart Clothing in Healthcare Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Smart Clothing in Healthcare Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Smart Clothing in Healthcare Market Analysis (2023-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Smart Clothing in Healthcare Market were the three major steps undertaken to create and analyze the adoption of smart clothing in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Smart Clothing in Healthcare Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Smart Clothing in Healthcare Market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Smart Clothing in Healthcare Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Smart Clothing in Healthcare Market. Further, we conducted factor analysis using dependent and independent variables such as product type, application, and distribution channel of the Smart Clothing in Healthcare Market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Smart Clothing in Healthcare Market sector across the globe. 

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Smart Clothing in Healthcare Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Smart Clothing in Healthcare Market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Smart Clothing in Healthcare Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Smart Clothing in Healthcare Market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the p product type, application, and distribution channel in the global Smart Clothing in Healthcare Market.

The main objective of the Global Smart Clothing in Healthcare Market Study

The current & future market trends of the global Smart Clothing in Healthcare Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Smart Clothing in Healthcare Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the product type, application, and distribution channel
• Define and analysis of the regulatory framework for the smart clothing industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Smart Clothing in Healthcare Market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Smart Clothing in Healthcare Market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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