Smart Diaper Market Synopsis
As per the analysis, the smart diaper industry market is expected to acquire a significant market value of USD 1,544 Million while thriving at a CAGR of 19.3% by 2030.
The growing adoption of technologies in child care products is expected to be a significant factor that can drive the global smart diapers market. The increasing number of nuclear families, the geriatric population, and female workers are projected to play a salient role in aiding the smart diaper market's growth during the forecast period. In addition, the rising prevalence of urinary incontinence (UI) and epidemiologic spurts are likely to accelerate the demand for such diapers, which can steer the industry in the coming period.
On the other hand, expenses associated with smart diapers can hamper the market growth during the assessment period. However, the expansion of the industry through online portals is anticipated to counter the restraining cause that can promote the smart diaper industry.
Key Players
Some of the global smart diaper key market players are Pixie Scientific, LLC (US) Procter & Gamble Company (US), Kimberly-Clark Corporation (US), and Abena A/S (Denmark).
Market Segmentation
The segmental analysis of the global smart diapers market is done by end-user and distribution channel.
The end-user based segments of the global smart diapers market are baby and adult. The adult segment is expected to acquire the maximum market share. The segment is likely to record a CAGR of 20.17% during the review period.
The distribution-based segments of the global smart diapers market are non-store-based and store-based. The store-based segment is expected to lead the global market. However, the non-store based segment is likely to witness a higher CAGR during the forecast period.
Regional Analysis
As per the regional analysis conducted by MRFR, the global smart diapers market is segmented into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
Smart diapers market in North America is expected to dominate the global market during the forecast period owing to the presence of established key players. The growing innovation of new diapers is likely to create lucrative opportunities during the review period. Furthermore, the researchers at MIT have developed a low-cost smart diaper that can notify the caregiver when it’s wet, which can grow its demand and augment the market in the coming period.
Europe is projected to acquire a second position during the forecast period owing to the rising technological advancements and the rising geriatric population. Also, companies are launching new products to withstand the growing competition of the market that can strengthen the regional market. In addition, the growing collaboration among various key players to provide cost-effective diapers is likely to drive the trade in the region.
APAC is anticipated to thrive at the maximum CAGR during the projection tenure due to the growing number of startups adopting new technologies. The increasing nuclear families and growing number of female workers are predicted to play a salient role to strengthen the regional market during the projection period. Furthermore, the rising prominence of e-commerce in developing countries is expected to augment the regional market.
MEA is likely to be a lucrative market during the review period owing to the presence of geriatric population. The growing exposure of the region to advanced technologies is expected to drive the regional market. Furthermore, the availability of various untapped regions can aid to grow the industry in the assessment period.
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