The Biomedical Textiles market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the growth trajectory through 2031.
China is Expected to be Worth US$ 3 Bn by the year 2031 in the Global Biomedical Textiles Market
The Biomedical Textiles market study by Fact.MR offers compelling insights into key growth drivers and restraints impacting the growth trajectory through 2031. The survey offers biomedical textiles demand outlook and studies opportunities existing in key segments, including fabric and application. It also highlights key strategies adopted by market players to increase biomedical textiles sales.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to a recent Fact.MR report, the global biomedical textiles market is expected to grow by 1.4X by 2031, reaching US$ 17 billion, up from US$ 12 billion in 2020.
The biomedical textiles market is expected to develop at a CAGR of 5% from 2021 to 2031, owing to rising consumer awareness of health issues and recent technological advancements in textiles.
Because of their properties such as great absorption capacity, softness, smoothness, durability, stretchability, and cost-effectiveness, non-woven biomedical textiles are becoming more popular in the healthcare sector.
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Demand for biomedical textiles in non-implantable applications will rise as wound care products like adhesive bandages, gauzes, and cohesive bandages become more popular.
The market will see increased demand as a result of these causes. According to Fact.MR, nonwoven fabric demand is predicted to expand at a CAGR of about 3% over the forecast period. It will also continue to be the most popular product category, with 30% of the market share.
The United States dominates the biomedical textiles market, which is expected to reach a value of US$ 3.5 billion by 2020. The United States will continue to offer lucrative growth prospects due to reasons such as increased healthcare spending and technical advancements in healthcare products.
“With rising awareness among consumers regarding treatment of chronic diseases, the biomedical textiles market will witness a rapid growth over the forecast period,” says Fact.MR analyst.
Key Takeaways from Biomedical Textiles Market Study
- Due to rising disposable income and rising healthcare expenditure in countries such as India and China, Asia Pacific is expected to emerge as a lucrative market.
- The demand for biomedical textiles in North America is dominated by the United States.
- By the end of 2031, the China market is expected to be worth $3 billion.
- Non-woven biomedical textiles accounted for 30% of the market share in terms of fabric, and are expected to grow at a CAGR of approximately 3% over the projection period.
- Demand for biomedical textiles in non-implantable applications is likely to remain strong, with non-implantable applications accounting for more than 40% of the market share.
Key Drivers
- As the focus on advanced wound care continues to grow, the occurrence of accidents, lifestyle diseases, and surgeries is pushing sales of biomedical textiles in the healthcare industry.
- The growing popularity of non-implantable biomedical textiles will have a beneficial impact on biomedical textile demand.
Key Restraints
- The R&D investments necessary in the production of biomedical textiles are quite large, limiting market sales.
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Competitive Landscape
Mergers and acquisitions are being used by market manufacturers to achieve a competitive advantage. In order to expand their product line, they are also focusing on launching new offerings. For example,
- In 2020, Smith & Nephew, a worldwide medical technology company, announced the acquisition of Integra LifeSciences Holdings Corporation's Extremity Orthopaedics business. This acquisition is in line with Smith & Nephew's business strategy, which focuses on expanding their market position by providing a wide array of extremities for end users, including complete shoulder replacement, advanced orthopaedic technologies, and others.
- In 2020, Ethicon, a subsidiary of Johnson & Johnson Medical Devices, announced the development of ECHELON ENDOPATH Staple Line Reinforcement (SLR), a new buttressing device designed to reinforce staple lines and reduce the risk of problems during thoracic, bariatric, and general surgical procedures.
Some of the prominent players operating in the biomedical textiles market profiled by Fact.MR are:
- Royal DSM
- Confluent Medical Technologies
- Cardinal Health
- Johnson & Johnson Services Inc.
- B. Braun Melsungen AG
- Smith & Nephew
- Meister & Cie AG
- Medline Industries Inc.
- 3M
- ATEX TECHNOLOGIES
- Integra LifeSciences Corporation
- Paul Hartmann AG
- BSN Medical
More Valuable Insights on Biomedical Textiles Market
Fact.MR, in its new report, offers an unbiased analysis of the global biomedical textiles market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in biomedical textiles market with detailed segmentation:
- Fabric
- Non-woven Biomedical Textiles
- Woven Biomedical Textiles
- Knitted Biomedical Textiles
- Fiber
- Biodegradable Biomedical Textiles
- Non-biodegradable Biomedical Textiles
- Application
- Biomedical Textiles for Implantable Applications
- Biomedical Textiles for Non-implantable Applications
- Biomedical Textiles for Surgical Sutures Applications
- End Use
- Biomedical Textiles for Ophthalmology
- Biomedical Textiles for Neurology
- Biomedical Textiles for General Surgery
- Biomedical Textiles for Orthopedics
Key Questions Covered in the Biomedical Textiles Market Report
- The market survey also highlights projected sales growth for biomedical textiles market between 2021 and 2031
- The report offers insight into biomedical textiles demand outlook for forecast period 2021-2031
- Biomedical textiles market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Biomedical textiles market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Explore Fact.MR’s Coverage on the Healthcare Domain -
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Wound Irrigation Solution Market Analysis - Over the forecast period, the wound irrigation solution market is predicted to develop due to an increase in the occurrence of acute and chronic wounds, as well as an increase in the adoption of wound irrigation solutions in wound care.
Orthopedic Repair Market Insights - Rising prevalence and recurrence of diverticular disease is expected to be a prominent driver driving the orthopedic repair market. The orthopedic repair market is projected to be driven by patient-specific surgeries and implants.
Next Generation Wound Closure Device Market Scope - The growing demand for next-generation wound closure devices in the healthcare industry, such as flexible wound closure strips, elastic skin closures, topical skin adhesives, antimicrobial skin closures, and reinforced skin closures, is expected to open up several opportunities for producers.
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