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The field of smart textile-based wearable biomedical systems (ST-WBSs) has of late been generating a lot of interest in the research and business communities since its early beginnings in the mid-nineties. However, the technology is yet to enter the marketplace and realize its original goal of enhancing the quality of life for individuals through enhanced real-time biomedical monitoring. In this paper, we propose a framework for analyzing the transition of ST-WBS from research to reality. We begin with a look at the evolution of the field and describe the major components of an ST-WBS. We then analyze the key issues encompassing the technical, medical, economic, public policy, and business facets from the viewpoints of various stakeholders in the continuum. We conclude with a plan of action for transitioning ST-WBS from ??research to reality??.