Analysis of Electronic Underwear market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
According to the latest research by Fact.MR Report, electronic underwear market is set to witness steady growth during 2021-2031. The rising health issues such as bedsores or pressure ulcer expects to see growth in demand from elderly population. Further, the market expects to reach USD 45 million by 2031, with a CAGR close to 5.8%.
Electronic underwear is designed to help people who are facing difficulties in mobility as, are confined to bed or chairs with bedsore or pressure ulcer. Especially, the adoption of electronic innerwear is gaining traction in elderly people leading to growth in demand worldwide.
Moreover, numerous initiatives by the regional government is helping boost the demand from the healthcare industry leading to potential sales growth. The investments from many agencies towards the healthcare sector, is helping them expand their R&D facilities, in turn driving the demand for the electronic underwear market.
High number of customers especially the millennials have increased the demand of innovation in electronic underwear like provision of different shapes, sizes and fabric used to manufacture electronic innerwear, which in turn is providing growth opportunity for key players.
In the era of diversifying urbanization, and the progression in healthcare services with the innovation combined with expanding medical services, use across the globe has flourished the development of electronic innerwear. Using a smartphone, an electronic innerwear can be controlled through an app, which fuels the usability of the product and gains the attention of the customers.
In addition, the rise in availability of a wide range of electronic underwear for various purposes like sports, regular wear, and functional wear also is likely to anticipate demand growth for electronic innerwear. The increase in disposable income, adoption of modern lifestyle, and change in preferences are also equally responsible for boosting the electronic underwear market.
Moreover, the millennials who are more receptive to new and innovative products have elevated the demand. The preference towards a wide variety of electronic underwear with different fabrics like cotton, polyester, nylon, silk, etc., is high under this category.
The regions of US and Canada is to dominate the overall market of electronic underwear as they have the highest number of patients suffering with bedsores. Various companies and agencies from all over the world have also invested and many other such investments are going to grow the electronic underwear market. With such high projected plans in the electronic underwear market, it is going to gain attention of customer from all over the world, which will flourish the volume of sales further.
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The rise in income equipped with amplified spending power of middle-class population due to numerous job opportunities has enabled those to afford high value commodities leading to demand growth for electronic innerwear.
Further, the major countries like Germany, France and other, anticipated to witness the sales growth in the region. In addition, the remarkable growth in the healthcare sector with the emerging health issues and people accepting the advanced technologies, the market for electronic innerwear might witness growth in near future.
Some of the key manufacturer of electronics underwear are
Many companies are focusing on research and development and have launched new products for the better well-being. Like, Saxx offers 3D hammock shaped pouch, which prevents rubbing of the skin, with no stitching free comfort.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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The electronic underwear market is likely to grow at a CAGR of 5.8% during the forecast period
The market is expanding owing to the adoption of electronic innerwear among the geriatric age band.
Manufacturers are likely to find the most opportunities in the United States.
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