The global medical textiles market exhibited moderate growth during 2015-2020. Medical textiles, also known as healthcare textiles, refer to various materials and products that are used for first aid and clinical purposes. They consist of healthcare and hygiene products, implantable and non-implantable materials and extracorporeal devices. Gauzes, bandages, wipes, prostheses, orthoses, breathing masks, and beddings and covers are some of the most commonly used medical textiles. The use of these textiles depends upon the degree of flexibility, softness, absorption and filtering offered by the product. Textile-based products and implants replace the need to use artificial tissues, ligaments and joints in surgeries, thus allowing faster recovery and improving the rehabilitation process for the patient. Looking forward, IMARC Group expects the global medical textiles market to grow at a CAGR of 4.80% during 2021-2026.
A thriving medical and healthcare industry, along with the rising awareness for healthcare practices among the consumers, is one of the key factors driving the market growth. With a continuously growing global population, there has been an increase in the instances of accidents caused by fires and chemicals as well as the prevalence of various diseases. This has resulted in an increasing demand for medical textiles such as medical tourism, pressure garments and bandages. Additionally, the growing diabetic and geriatric population that requires frequent and extensive medical attention is further propelling the growth of the market. Furthermore, increasing demand for nanofibers, which are manufactured using biocompatible and biodegradable materials, is also positively impacting the market as they extensively aid in tissue engineering, drug delivery and wound healing. Other factors contributing to the market growth include reduced healthcare costs, the rising awareness about the benefits of medical textiles and increasing research and development (R&D) to develop better and more advanced variants.
IMARC Group’s latest report provides a deep insight into the global medical textiles market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the medical textiles market in any manner.
The report has also analysed the competitive landscape of the market with some of the key players being Asahi Kasei, Cardinal Health, Freudenberg, Getinge, KCWW, Schouw, ATEX Technologies Inc., Bally Ribbon Mills, Vestagen Technical Textiles Inc., Bluestar Silicones, Biomedical Structures, Medical Grade Innovations, Strategic Partners, Life Threads LLC, etc.
The global medical textiles market size was valued at US$ 18.7 Billion in 2020.
According to the estimates by IMARC Group, the global medical textiles market is expected to witness a CAGR of 4.8% from 2021 to 2026.
The growing incidences of accidents caused by fire, road collisions, chemical exposure, etc., are propelling the demand for gauges and bandages which represent one of the key drivers for the global medical textiles market.
The rising investments in extensive R&D activities for the introduction of advanced product variants represent one of the key trends in the global medical textiles market.
Sudden outbreak of the COVID-19 pandemic had resulted in a surging need for PPE kits, gloves, gowns, surgical masks, etc., that are manufactured by medical textiles.
On the basis of the product type, the market has been bifurcated into non-woven, knitted, woven and others. Currently, non-woven product holds the majority of the total market share.
On the basis of the application, the market has been divided into implantable goods, non-implantable goods, healthcare & hygiene products and others. Among these, implantable goods represent the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
The key companies in the global medical textiles market are Asahi Kasei, Cardinal Health, Freudenberg, Getinge, KCWW, Schouw, ATEX Technologies Inc., Bally Ribbon Mills, Vestagen Technical Textiles Inc., Bluestar Silicones, Biomedical Structures, Medical Grade Innovations, Strategic Partners, Life Threads LLC, etc.
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