Wearable Materials Industry - growth, trends, covid-19 impact, and forecasts (2021 - 2027)
Market Synopsis The Global Wearable Materials Industry is projected to register 14.5% CAGR and reach around USD 3.5 Billion by 2025. The demand for wearables materials is primarily driven by the growing popularity of the Internet of Things and digitalization worldwide. The increasing demand for fitness devices to monitor health on account of rising health consciousness among consumers is driving the global market growth. Among the various applications of wearable materials, smartwatches are the most popular wearable devices across geographies. Regulatory Analysis Wearable medical devices are regulated by the US Food and Drug Administration’s (FDA) center for devices and radiological health to ensure safety while using such devices. Segmentation By Type : By type, the global Wearable Materials Industry can primarily be categorized into pure MDI, polymeric MDI, and modified MDI. Silicone—The silicone segment accounted for the largest share of the glob