Geriatric population also contributes significantly to the market demand. Old age homes, healthcare institutions, and clinics having elderly people are also prominent customers expected to drive the market over the forecast period. Possibility of infections such as inflammation of urethra in the aging population is one of the constraints to the market growth. In order to protect and reduce the possibilities of infectious diseases, companies are providing solutions by introducing apps, sensors, and Bluetooth devices.
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Asia Pacific is expected to expand at the fastest CAGR of 5.7% from 2019 to 2025. Most of the new entrants are coming up with new technologies applicable in sensors, thereby driving the market in the region. Increasing population and nuclear families in this region are the major factors boosting the regional market growth. Taiwan, Korea, and Australia are considered to be the emerging markets for this product. High birth rates in Asia Pacific and the Middle East countries are expected to provide growth opportunities for the market.
North America and Europe hold a dominant share in the global market owing to increasing preference for technology driven products that make life easier for consumers having busy schedule and lifestyle.
Key players operating in the global market include Alphabet’s Verily, ElderSens, Pixie Scientific, SINOPULSAR, Monit Corp., Opro9, Simativa (Australia), Abena Nova, Indiegogo, and Smartipants. Some of the key players in the market are focusing on supplying the diapers with smart new sensors, which are well updated with technologies, such as Alert plus. Companies such as Alphabet’s Verily and Pixie Scientific are considered to be the prominent companies in the market.
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Further key findings from the study suggest:
• Based on the end user, the babies segment is expected to account for a share of 57.2% by 2025
• North America dominated the market and accounted for 34.1% share of the overall revenue in 2018. This trend is projected to continue over the next few years
• The smart diapers market in Asia Pacific is anticipated to witness significant growth due to increasing awareness among consumers and growing population in India, South Korea, and China
• The industry is highly competitive due to the presence of main players including Abena Nova; Simativa; Sino pulsar technology Inc.; Alphabet’s Verily; Pixie Scientific; Monit Corp.; Opro9; and ElderSens
• Various manufacturers are focusing on new product launches and technological innovation to estimate existing and future demand patterns according to the needs of babies and adults, who can’t help themselves to change the diapers when required.
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