DUBLIN - The burgeoning smart diapers market is expected to top US$1.5 billion by 2026, according to a new report.
The report "Smart Diapers Market With Covid-19 Impact Analysis, by End-Use Technology (RFID Tags, Bluetooth Sensors), and Geography - Global Forecast to 2026" from ResearchAndMarkets.com said that the smart diapers market is estimated to be $646 million in 2021 and is projected to reach $1,531 million by 2026, at a CAGR of 18.8% from 2021 to 2026.
By technology, the Bluetooth sensors segment accounted for the largest technology share of the smart diapers market. The large share can be attributed to the increase in awareness among the consumers regarding Bluetooth sensors as compared to RFID tags. Also, diapers enhanced with Bluetooth sensors is a fully commercialized product and many major diaper companies have added it to their product portfolios.
By end-use, the report notes that adult segment is anticipated to grow at the highest CAGR from 2021 to 2026. The rising adoption of smart diapers in developed countries and the increase in the geriatric population across the globe are expected to drive further the demand for smart diapers in adult end-use segment. This high growth can also be attributed due to the adoption of smart diapers in healthcare institutions, clinics, and nursing homes, which positively impacts the market's growth.
In terms of geography, Asia Pacific is expected to be the fastest-growing market for smart diapers during the forecast period, in terms of value. The market for these diapers in Asia-Pacific region is anticipated to grow rapidly based on the developments taking place in the residential and infrastructure industry.
The growth of the Asia Pacific smart diapers market is expected to be primarily driven by the aging population. According to the WHO data, by 2025, 18% of the Asian population will be above 65 years old. This is an increase of 11% from the 2010 levels and is expected to generate huge opportunities and propel the demand for the smart diapers market.
