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2019-06-18
290
Global
Market Overview
Smart e-pants are an innovative technology for preventing pressure injuries (pressure bedsores, ulcers), which originate at the surface of the skin and gradually progress inwards, at the deep of the bones and muscles. Continuous pressure on a surface causes mechanical deformation in tissue; consequently they are deprived of oxygen and over a period of time only skin signs are visible. 70% occurrence of pressure injuries (PI) are in ischial tuberosity or sacrum region. Using smart e-pants has caused convenience to both the patient and the care taker. More than 2.5 million people develop bedsores in a year, which have the opportunity to cure it by using smart e-pants. Countries with high expenditure on healthcare sector are the opportunistic regions for the growth of smart e-pants such as U.S.A., Norway and Switzerland. Use of smart e-pants is 2.5 times economical than the average medical cost of each pressure wound.
Goldstein Research analyst forecast that the global smart e-pants market size is set to reach USD 1175 million by 2025, growing at a CAGR of 29.3% over the forecast period. The technological research and development, rising number of PI patients, healthcare spending are some of factors that may augment the growth of smart e-pants market over the forecast period.
The report covers the present ground scenario and the future growth prospects of the smart e-pants market for 2017-2025 along with the global sales and global revenue of the smart e-pants. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of smart e-pants manufacturers, number of PI patients using smart e-pants, technology research and development, government approvals.
On the basis of Application, PI accounted for the largest market share of 64.2% in 2017. Development of e-pants is still in developing phase, but there have been successful researches on treating PI patients with the use of smart e-pants. Distribution of smart e-pants is largely done through the clinics and medical stores. Over the forecast period, distribution of smart e-pants is expected to grow over the online platforms.
Smart e-pants market outlook 2017-2025, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the smart e-pants market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global smart e-pants market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Trend of adopting smart clothing in the healthcare industry is positively impacting the smart e-pant market. With advent of using smart fabrics and smart clothing healthcare technology has been embedded to cure patients with PI and address the physiological conditions impacting the patient.
The rising government expenditure in healthcare sector, promoting startups and advancement in the smart wearable technology are the driving factors extending the growth of global smart e-pants market. Startups such as PrevBiotech has made easy to apply and remove the device on the garment. Similar imminent startups of using smart wearable in the healthcare industry are expected to boost the growth of global smart e-pant market.
Smart e-pants are still on development and approval phase and require high investments, thus posing a challenge in the growth of global smart e-pants market. Only with the government and healthcare sector approval, the global smart e-pants market can grow at swift pace. The clinical trials are being conducted, which is delaying the approval processes.
Based on geography, North America accounted for largest market share of 38.4% in 2017 of the total global smart e-pants market. North America has major players manufacturing smart e-pants and selling it through the local clinics. Europe is considered to be the prospecting market for the growth of smart e-pants market. European countries such as Switzerland, Luxembourg, Norway, and Netherlands among others have high healthcare expenditure, causing the rise in penetration of smart e-pants in the region.
Global smart e-pants market report comprises of the following companies as the key players in the smart e-pants market: PrevBiotech, Dee Gee rehabilitation technologies ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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