In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Electronic underwear or smart e-pants is defined as an electronic garment which helps to prevent bedsores. Smart e-pants help to reduce the risk of pressure ulcers in the sacrum (base of spine). This technology improves the care of individuals confined to beds or wheelchairs. Electronic underwear uses electrical stimulations to produce brief contractions in muscles that are compressed for prolonged period of time. These electrical stimulations are repeated every few minutes which in turn helps the patients to prevent bedsores.
The global electronic underwear/smart e-pants market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Smart e-pants market is driven by various factors such as rising health awareness among the patients regarding smart e-pants and rising disposable income of the consumers.
In terms of geography, North America region is expected to dominate the market during the forecast period aided by the U.S. Further, wide use of these clothing technologies in the treatment of bedsores and rapid urbanization are believed to flourish the growth of electronic underwear/smart e-pants market in the region. Moreover, major healthcare companies are projected to enter into the North Americas electronic underwear market which is further likely to boost the growth of electronic underwear/smart e-pants market in the region over the forecast period.
Europe region is anticipated to hold the second largest market in electronic underwear/smart e-pants by the end of 2024. Further, the major countries to witness the augmented demand for electronic underwear/smart e-pants in Europe include Germany, France, U.K. and others countries. Additionally, increased adoption of technological advanced products and a greater demand for smart healthcare devices are envisioned to foster the growth of electronic underwear/smart e-pants market in the Europe region. Asia-Pacific region is also projected to show a tremendous growth over the forecast period i.e. 2017-2024. The growth in this region is credited to the rise of middle class and purchasing power of the population. Furthermore, Japan and China are envisioned to lead the market for electronic underwear in this region owing to rising demand for smart e-pants from old age population.CLICK TO DOWNLOAD SAMPLE REPORT
Our in-depth analysis segmented the global electronic underwear/smart e-pants market in the following segments:
By Distribution Channel
Global electronic underwear/smart e-pants market is further classified on the basis of region as follows:
Factors such as rising adoption of wearable electronics and growing demand for smart e-pants from healthcare sector for the prevention of bedsores or pressure ulcer are believed to be the dynamic factor behind the rapid growth of electronic underwear/smart e-pants market across the globe. Further, rising old age population and increased number of patients affected with pressure ulcer disease are envisioned to bolster the growth of electronic underwear/smart e-pants market by the end of 2024.
Moreover, positive growth in IT industry across the globe which in turn further increase their research & development activities to develop advanced and latest technology products and swelled disposable income of the population across the globe supported by the positive GDP figures in growing nations supporting the penetration of smart consumer electronics which are projected to boost the demand for electronic underwear/smart e-pants.
However, high cost associated with the electronic underwear and lack of awareness regarding electronic underwear/smart e-pants are anticipated to hinder the growth of electronic underwear/smart e-pants market over the forecast period.