Dublin, Oct. 05, 2020 (GLOBE NEWSWIRE) -- The "Smart Diaper Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering. The Smart Diapers Market is expected to grow at a CAGR of 5.36%. The growth of the market can be attributed to the growing geriatric population in the developed countries and the increasing population in emerging countries coupled with rise in disposable incomes. 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. Covid-19 pandemic outbreak is expected to affect the market positively. The effect of the outbreak has led to breaking down of childcare business that was outsourced to many agencies and professional child care givers. Though various platforms are trying to provide properly screened caregivers, the threat of the pandemic is expected to force parents to get involved in baby care directly. This is expected to impact the market positively. 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 because 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%.
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. According to ILO data ASEAN countries like Vietnam are expected to experience a 10.1% annual growth in income from 2016 to 2021.
Competitive Landscape The market studied is extremely dynamic. The market has been experiencing a number of product launches and innovations to evolving consumer demands. Some of the recent developments of the market are as follows:-
July 2019 - Verily recently partnered with Procter & gamble (P&G) to sell Smart Diapers that will enable monitoring of the sleeping patterns of any baby and track their pee. The new product, lumi, will be sold by pampers. It includes an all-in-one connected system comprising of two activity sensors for diapers, a logitech camera and an app to record all the data.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
Key Topics Covered: 1 INTRODUCTION 1.1 Study Deliverables 1.2 Study Assumptions 1.3 Scope of the Study 2 RESEARCH METHODOLOGY 3 EXECUTIVE SUMMARY 4 MARKET DYNAMICS 4.1 Market Overview 4.2 Market Drivers 4.2.1 Large Geriatric Population in Developed Countries 4.2.2 High Birth Rates and Rise in Disposable Incomes in Emerging Markets 4.3 Market Restraints 4.3.1 Infections and Kidney Problems Associated with their Prolonged Use might Act as a Restraint for Market Growth 4.4 Porters 5 Force Analysis 4.4.1 Threat of New Entrants 4.4.2 Bargaining Power of Buyers/Consumers 4.4.3 Bargaining Power of Suppliers 4.4.4 Threat of Substitute Products 4.4.5 Intensity of Competitive Rivalry 4.5 Assessment of Impact of Covid-19 on the Industry 5 MARKET SEGMENTATION 5.1 End - User 5.1.1 Baby 5.1.2 Adult 5.2 Geography 5.2.1 North America 5.2.2 Europe 5.2.3 Asia-Pacific 5.2.4 Rest of the World 6 COMPETITIVE LANDSCAPE 6.1 Company Profiles 6.1.1 ElderSens 6.1.2 Pixie Scientific 6.1.3 Simavita Limited 6.1.4 Abena Holding A/S 6.1.5 Verily Life Sciences (Alphabet Inc.) 6.1.6 Indiegogo, Inc. 6.1.7 Monit Corp. 6.1.8 Sinopulsar Technology Inc. 6.1.9 Hunan Cosom Care Products Co., Ltd. 7 INVESTMENT ANALYSIS 8 MARKET OPPORTUNITIES AND FUTURE TRENDS For more information about this report visit https://www.researchandmarkets.com/r/qhh7s1
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