Biomedical Textiles Market registering steady 4.9% CAGR by 2027

The global biomedical textiles market size was valued at USD 17.32 billion in 2020 and reach USD 23.07 billion in 2027, registering a steady 4.9% CAGR during the forecast period, 2021-2027.

Biomedical textiles are the structures of medical textiles specifically designed for wound dressings, hospital linen, orthopedic belts, pressure garments, and bandages.

They are composed of textile fibers that are specially designed for use in biological environments. Growing preference for usage of biomedical textiles for healthcare products, implantable & non-implantable products, and hygiene products is projected to favor the growth of the biomedical textiles market worldwide.

The recent trends thriving in the biomedical textiles market include the rising demand from the implantable segment and the rise of an upcoming technology such as tissue engineering.

Key Factors to be Influencing Biomedical Textiles Industry over Forecast Period:

Factors such as the rising need for surgeries, growing demand for high-quality wound dressing material, and rising healthcare expenditure across several countries are anticipated to drive the growth of the biomedical textiles market.

The rapid growth of the industrial and manufacturing sectors in emerging economies, especially in the Asia Pacific, is due to the continuous rise in foreign direct investments going into the region’s manufacturing industry. It will be expected to raise the demand for biomedical textiles, offering a promising growth avenue to the global market.

Many governments also provide financial aids, initiate the development and promotion of biomedical textiles to address critical health concerns, which has positively impacted the sales of biomedical textiles, especially within the healthcare and pharmaceuticals industries.

However, the complexity of integrating electronic circuits in textiles and the high cost associated with biomedical textiles may restrain the demand growth of biomedical textiles over the forecast period.

Scope of the Report

The report outlines the global biomedical textiles market study based on fabric and application.

The biomedical textiles market has been segmented based on fabric –

· Woven

· Knitted

· Non-Woven

· Others

The biomedical textiles market has been segmented based on application –

· Implantable

· Non-implantable

· Healthcare & Hygiene

· Others

Biomedical Textiles Market: Regional Outlook

Based on the region, the global biomedical textiles market has been segmented into five geographical regions, namely, North America, Asia Pacific, Europe, South America, and the Middle East and Africa. In 2020, North America held the largest share in the biomedical textiles market, followed by the Asia Pacific.

Europe also remains an important market owing to the growing awareness among Europeans about the availability of new technologies beneficial for the expanding aging population and the ever-swelling diabetic patient pool. Moreover, Asia Pacific is expected to project the highest CAGR globally over the forecast period owing to rising manufacturing capacity for products that consume large amounts of non-woven fabric in the region.

Key Global Biomedical Textiles Market Competitors Includes

The biomedical textiles market is highly fragmented, with a large number of small players across the globe. The vital biomedical textiles manufacturers operating in the global market are–

· B. Braun Melsungen AG

· Integra LifeSciences Corporation

· Johnson & Johnson Services

· Medline Industries

· Cardinal Health

· Confluent Medical Technologies

· Secant Group

· Smith & Nephew

· Atex Technologies

· Paul Hartmann AG

· Bally Ribbon Mills

· 3M