Adaptive Clothing Market Connected with Silvert's Adaptive Clothing & Footwear Outline
The global Adaptive Clothing Market is estimated to be valued at US$ 1,259.1 Million in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Adaptive clothing is specialized clothing designed for people with disabilities or reduced mobility. It helps improve independence by making dressing easier. Adaptive clothing features designs such as snap closures instead of buttons, Velcro closures for pants and shirts, or side-entry clothes. They are comfortable, breathable and allow independence. The need for adaptive clothing is rising with growing population with disabilities or reduced mobility issues.
Market key trends:
One of the key trends in the adaptive clothing market is the emergence of fashionable and trendy designs. Earlier, adaptive clothing used to be very basic with fewer style options. However, now companies like Silvert's Adaptive Clothing & Footwear are introducing high fashion styles and designs. They offer stylish jeans, dresses, tops and more made using comfortable fabrics and inclusive designs. This has increased acceptance and popularity of adaptive clothing among general population as well. Wearers now have options to choose trendy yet comfortable clothes to suit different events and occasions.
Porter's Analysis
Threat of new entrants: The Adaptive Clothing Market Size requires high R&D investments and specialized manufacturing facilities to cater to custom designs. This poses high entry barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are numerous established brands providing a variety of adaptive clothing options at different price points.
Bargaining power of suppliers: A few key players dominate the raw material supply chain for adaptive fabrics providing them higher bargaining power over manufacturers.
Threat of new substitutes: There are no close substitutes for adaptive clothing that can provide tailored solutions for people with disabilities. Specialized fasteners, seams and designs make substitution difficult.
Competitive rivalry: The adaptive clothing market is growing rapidly attracting many new brands. Competition is intensifying among existing players on the basis of product innovation, designs and customization.
Key Takeaways
The global adaptive clothing market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing geriatric population and prevalence of disabilities. The US dominates the market owing to higher health awareness and diagnosed disability rates. Rising disposable incomes also support the regional market growth.
The Asia Pacific region is projected to be the fastest growing market for adaptive clothing during the forecast period. This can be attributed to rapidly expanding economies, growing medical infrastructure and increasing spend on healthcare. Greater accessibility due to rising private insurance coverage will further propel the regional demand.
Key players operating in the adaptive clothing market are Silvert's Adaptive Clothing & Footwear, Izzy Camilleri, NBZ Apparel International, Able2Wear, Adaptions by Adrian, Professional Fit Clothing, Adaptive Clothing Showroom, Creation Confort, Buck & Buck, PVH Corp. and Lycra Company. Innovation in fabrics, enhanced design functionalities and customized offerings are some strategies adopted by these companies to gain competitive edge.
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