The global medical textiles market grew at a CAGR of 4.5% during 2014-2019. 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 moderately during the next five years.
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 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 was worth around US$ 17.5 Billion in 2019.
According to the estimates by IMARC Group, the global medical textiles market will exhibit moderate growth during the next five years.
Due to the mass outbreak of the coronavirus disease (COVID-19), there is a significant rise in the need for personal protective equipment (PPE), such as respirators, gloves, gowns, surgical masks, and eye protectors. As medical textiles are used in their manufacturing, the market is witnessing a positive impact.
The thriving healthcare industry, on account of the rising prevalence of several diseases, along with the increasing investments in the healthcare infrastructure, represents one of the key factors bolstering the market growth.
One of the major trends in the market includes the escalating demand for nanofibers, which are manufactured using biocompatible and biodegradable materials. These fibers help in tissue engineering, drug delivery and wound healing significantly, which is bolstering their demand.
Based on the product type, the market has been segmented into knitted, woven, non-woven and others.
On the basis of the application, the market has been classified into implantable goods, non-implantable goods, healthcare and hygiene products, and others.
Region-wise, the market has been categorized into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa.
Leading industry players are Asahi Kasei Corporation, Freudenberg Group, Cardinal Health, Inc., ATEX Technologies, Inc., Getinge AB, KIMBERLY-CLARK CORPORATION, Schouw & Co A/S, Vestagen Technical Textiles Inc., Biomedical Structures LLC, Bally Ribbon Mills, Elkem Silicones International Group, Confluent Medical Technologies, Life Threads LLC, Careismatic Brands, Inc. and Medical Grade Innovations (R&T Fabric, LLC).
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