Medical Textile Market:
Executive Summary
Global medical textile market is valued approximately USD 16.11 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2018-2025. Medical textiles are combination of medical science and textile technology including fabrics and yarns. Additionally, medical textiles are produced and designed for various medical applications including surgical dressing, anti-microbial fabrics, vascular prosthesis (Grafts), Nerve reconnection and regeneration, bandages, surgical gowns and others. These structures are accomplished and designed for various medical applications ranging from a single thread structure to the complex structures and from the simple cleaning wipe to bone replacement. Moreover, medical textiles and fabrics are also used in operating rooms.
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Medical textiles are broadly classified into Non-woven, Knitted and Woven products that plays a key role in maintaining hygiene in healthcare sector. Increasing demand for medical textile products and fabrics with rising importance of hygiene and need for safety in medical industry have boosted the demand for medical textile market across the globe. The market growth is primarily attributed to rising awareness towards better healthcare practices and technological advancements for achieving the safety and quality standards. Growing demand of nanofibers in medical industry is the key trend gaining momentum in forecasted years for global medical textile market. These nanofibers are manufactured using biodegradable or biocompatible materials having high growth potential in healthcare and biomedical sector. Increasing healthcare expenditure and strict regulations to ensure safety and quality of medical textile products is promoting the market growth. According to Institute for Health Metrics and Evaluation, global healthcare expenditure would increase to USD 18.28 trillion by 2040. High-income countries are likely to spend approx. USD 9,019 per person on health that is comparably much higher than the spending by middle-income countries that is expected to be USD 1,935. Countries with lower income would be spending USD 164 per person on an average till 2040.
Furthermore, due importance is given on improving the medical safety and hygiene in medical industry. To ensure the same, stringent regulations with various test have been imposed on the manufacturing industries supplying medical fibers that in turn regulates the demand for medical textiles across the globe.
The regional analysis of global medical textile market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to escalating number of surgical procedures and surging disposable income of the individuals. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2018-2025 due to escalating number of road accidents and surging number of cosmetic procedures.
Market player included in this report are:
Bally Ribbon
Freudenberg
Vestagen Technical
Bluestar Silicones
Atex Technologies
Biomedical Structures
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Product Type Level:
Non-Woven Products
Knitted Products
Woven Products
By Industry Level:
Implantable Goods
Non-Implantable Goods
Healthcare & Hygiene Products
By Channel Level:
Direct Sales
Distributors
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Medical textileMarket in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Continuous…
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