Smart Diapers Market is Projected to Register a CAGR of 19.3% During the Forecast Period due to Growing Geriatric Population Across the Globe

February 2022, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Smart Diapers Market.

Market Highlights

Global Smart Diapers Market is estimated to be valued at USD 1,544 Million by 2030, registering a CAGR of 19.3% during the forecast period. Smart diapers have a moisture strip and a sensor that alerts the caregiver when the diapers need to be changed. The protuberant factors driving the market growth include growing geriatric population and awareness regarding urinary incontinence, along with shifting consumer preference toward sophisticated gadgets, growth prospects of next-generation displays in wearable devices, and growing popularity of the internet of things (IoT). Furthermore, the increasing adoption of smart diapers in nursing homes is also expected to further propel the growth of the global smart diapers market during the forecast period. However, the high product cost is expected to hamper the global market growth.      

North America held a dominant share of the smart diapers market in 2022 and is expected to record the highest CAGR during the forecast period due to the increasing demand for technologically advanced products. The US offers lucrative markets for manufacturers in the region. The growing adoption of the IoT followed by the presence of major manufacturers in the region is expected to drive the market during the assessment period. The market in Europe held the second-largest share during the review period. The use of smart diapers in the nursing homes and incontinence treatment clinics helps to reduce the number of resources required. With the steadily growing geriatric population and awareness regarding urinary incontinence and health consciousness, the demand for adult diapers is expected to grow significantly in the region. Furthermore, the manufacturers of smart diapers are collaborating with technology providers to develop and offer cost-effective and advanced products to maintain a strong position in the cutting-edge competitive environment.

Segmental Analysis

The Global Smart Diapers Market has been segmented on the basis of End User, Distribution Channel, and Region.

By End User, the global market has been divided into adult and baby. The adult segment accounted for maximum market share in 2020 and the same is expected to register the highest CAGR of 20.17% during the forecast period. Adult smart diapers are mainly used in nursing homes, facilities that care for mentally challenged patients or physically handicapped, and hospitals.

Based on Distribution Channel, the global smart diapers market has been classified into store-based and non-store-based. The store-based segment accounted for a larger market share in 2020. However, growing consumer preference for online purchases and technological advancements in the e-commerce industry are fueling the growth of the non-store-based segment. This segment is projected to register a higher CAGR during the forecast period.

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Regional Analysis

Geographically, the global smart diapers market has been categorized into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America dominated the market, accounting for the largest share in 2020 and is projected to register the highest CAGR of 20.04% during the forecast period. The European smart diapers market accounted for the second-largest market share in 2020.

Key Players

Market Research Future recognizes Kimberly-Clark Corporation (US), Procter & Gamble Company (US), Abena A/S (Denmark), and Pixie Scientific, LLC (US) as the Key Players in the Global Smart Diapers Market.

Key Findings of the Study

• Global Smart Diapers Market is expected to register a growth rate of 19.3% from 2022 to 2030. The surge in the geriatric population followed by the rising popularity of Internet-of-things (IoT) is projected to propel the growth of the global smart diapers market.

• The adult's segment is estimated to retain its prominent share by 2030. The adult segment is projected to register a growth rate of 20.17% during the forecast period.

• The store-based segment accounted for the largest market share in 2020 and is expected to grow at a rate of 14.79% during the forecast period.