Market Insights Reports delivers key insights on the Smart Diaper Market in its latest report titled, “Smart Diaper Market – Growth, Trends, And Forecasts (2020 – 2025)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The Smart Diapers Market is expected to grow at a CAGR of 5.36%.
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Top Key Players in the Global Smart Diaper Market: ElderSens, Pixie Scientific, Simavita Limited, Abena Holding A/S, Verily Life Sciences (Alphabet Inc.), Indiegogo, Inc., Monit Corp., Sinopulsar Technology Inc., Hunan Cosom Care Products Co., Ltd.
– According to the Simveta, the rapidly growing diaper market is today USD 54 billion in size for infants and a USD 11 billion for adult incontinence pads. But with the US price of a Monit Bluetooth sensor estimated at USD 249, the high cost of smart diapers might act as a market restraint.
– The high birth rates in Asia – Pacific coupled with high geriatric population in countries like Japan is expected to make this region the highest growth market during the forecast period. According to estimates, People aged 65 and older in Japan are expected to make up a third of the population by 2050.
Key Market Trends
The Rising Geriatric Population will Act as a Major Driver of the Market
– The rising geriatric population is expected to significantly contribute to the market demand. Old age homes, healthcare institutions, and clinics having elderly people are expected to drive the market over the forecast period.
– According to data released by WHO, by 2025, in Europe alone there will be some 119 million people aged more than 65. This would be about 16 percent of the total European population. This would generate need for Smart Diapers not only beacuse of the high geriatric population but also to reduce pressure on the health care and old age care systems.
– Abena introduced its Abena Nova solution in 2018. According to the company, the introduction of the solution resulted in a 30% reduction in work pressure. Moreover, a 20% cost saving was measured on incontinence care, as well as a time saving of 28%.
The report offers in-depth assessment of the growth and other aspects of the Smart Diaper market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Asia – Pacific is expected to be the Fastest Growing Market
– In 2019, more than half of the global population belongs to Asia, and it is expected to hold the highest urban population by 2050. Asia that is home to the two most populous countries of the world India and China, is expected to generate huge opportunities for the market studied by adding the maximum number of babies during the forecast period.
– As stated by the Hindawi Publishing Corporation, eco-diapers for infants 24 months old and younger are commonly used in India and China followed by the Philippines and Japan. The combination of conductive yarns and sensors can detect the moisture content in eco-diapers, and an alarm is sent when moisture is significant.
– Moreover, according to WHO data, by 2025, 18% of the population of Asia will be more than 65 years old. This is an increase of 11% from the 2010 levels. This is expected to generate huge opportunity for the market studied as families become increasingly nuclear in the region.
– The economic growth has ensured higher disposable incomes thereby enabling people to meet their healthcare needs by investing in better technologies. Accoring to ILO data ASEAN countries like Vietnam are expected to experience a 10.1% annual growth in income from 2016 to 2021.
This Smart Diaper Market report addresses:
– The Market size from 2015-2020
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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