The global medical textiles market is expected to reach USD 20.23
billion by 2022, according to a new report by Grand View Research, Inc. The
rise in the number of elderly population, ongoing technological advancements
and increase in health consciousness are fueling the growth of global medical
textiles market.
Burgeoning health concerns
necessitating the criticality of awareness for better healthcare practices
coupled with rising disposable income are expected to augment the demand for
medical textiles. Growing medical & hygiene sectors and health conscious
population of the developing economies are projected to drive the demand for
medical textiles market over the forecast period.
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Further key findings
from the report suggest:
·
The non-woven
segment is expected to grow at a CAGR of over 5.0% from 2015 to 2022. Nonwoven
fabrics are used in the myriad of applications extending from wound dressings,
adhesive tapes, cotton pads, disposable surgical clothing, bandages (simple
bandages, light support bandages, orthopedic bandages). Rising application of
these products in the healthcare sector is expected to drive market growth.
·
Non-implantable
goods accounted for over 30.0% share of the global medical textiles market.
Increasing incidence of injuries is fueling the demand for medical textiles in
non-implantable goods segment. Furthermore, increasing prevalence of diabetes
and rising obesity are also propelling the growth of non-implantable goods
segment over the forecast period.
·
North America
market is expected to grow at a CAGR of 4.4% from 2015 to 2022. North America
and Europe is projected to continue its dominance jointly in medical textiles
market through continuing to invest in research and development activities and
identifying opportunities with expanding medical infrastructure.
·
Demand for
medical textiles in Europe was over USD 4.2 billion in 2014. Germany is a major
country involved in the foreign trade of medical textiles. Similarly, Germany
is also the second largest textile importing country after the U.S. and has
developed as a lucrative market for many textile exporting countries since last
three decades. Germany is Europe's leading location for medical technology and
second biggest in terms of medical technology production and medical services
provider across the globe.
·
Biomedical
Structures Inc. is a key player engaged in the manufacturing, advanced design
and development of medical textiles for numerous device manufacturers in the
general surgery, orthopedic, tissue engineering, cardiovascular and
regenerative medicine markets. Key companies include Bally Ribbon Mills,
Freudenberg & Co. KG, Vestagen Technical Textiles Inc, Bluestar Silicones
International, ATEX Technologies, Inc. and Biomedical Structures, Inc.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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