Biomedical Textiles Market 2019 in-Depth Research on Market Dynamics, Emerging Growth Factors, Investment Feasibility, Huge Growth and Development till 2023

Biomedical Textiles Market 2019 in-Depth Research on Market Dynamics, Emerging Growth Factors, Investment Feasibility, Huge Growth and Development till 2023

“”Biomedical Textiles Market Research Report – Forecast to 2023″”
Growing healthcare industry on account of rising healthcare budget, growing health awareness, and rising healthcare expenditure is likely to drive the global biomedical textiles industry over the forecast period 2018-2023. Additionally, increasing population size and desire for longer lifespan are expected to boost the demand for biomedical textiles in the healthcare industry to some extent.

Growing healthcare industry on account of rising healthcare budget, growing health awareness, and rising healthcare expenditure is likely to drive the global biomedical textiles industry over the forecast period 2018-2023. Additionally, increasing population size and desire for longer lifespan are expected to boost the demand for biomedical textiles in the healthcare industry to some extent. 

Market Segmentation

The global biomedical textiles market is segmented into fiber type, fabric type, product type, application, and region.

On the basis of the fiber type, the global biomedical textiles market is segmented into the non-biodegradable fiber and biodegradable fiber.  The non-biodegradable fiber is sub-segmented into polypropylene, polyethylene, polyester, polyamide, polyurethane, polytetrafluoroethylene, and others. Biodegradable fiber is sub-segmented into cotton, viscose rayon, collagen, chitin, and others.

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On the basis of the fabric type, the global biomedical textiles market is segmented into woven, non-woven, knitted & braided fabrics, hollow fabric, and others.

On the basis of the product type, the global biomedical textiles market is segmented into healthcare & hygiene products, non-implantable products, implantable products, and extracorporeal devices. The healthcare & hygiene products are sub-segmented into surgical clothing, surgical drapes, beddings, sanitary napkins, baby diapers, adult incontinence products, and others. The non-implantable products are sub-segmented into bandages, wound care dressings, plasters, gauze, and others. Implantable products are sub-segmented into soft tissue implants (hernia repair, ligament implant), hard tissue implants (orthopedic implant, dental implant), cardiovascular implants (vascular graft, heart valve), surgical sutures and others. Extracorporeal devices are sub-segmented into artificial kidney, liver, and lungs.

Based on the applications, the global biomedical textiles market is segmented into ophthalmology, neurology, cardiology, dentistry, orthopedics, general surgery & treatment, and others.

Competitive Analysis

Some of the key players in the global biomedical textiles market are Secant Group, LLC (U.S.), Confluent Medical Technologies (U.S.), SWICOFIL AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.), Meister & Cie AG (Switzerland), Cardinal Health. (U.S.), Smith & Nephew (UK), Medline Industries, Inc (India), Integra LifeSciences Corporation. (U.S.), PAUL HARTMANN AG (Germany), BSN medical. (Germany), B. Braun Melsungen AG (Germany), 3M (U.S.), Elkem Silicones (Norway), and ATEX TECHNOLOGIES (U.S.).

Regional Analysis

The global biomedical textiles market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. 

Asia Pacific was the largest market for biomedical textiles in 2017 and is expected to exhibit exponential growth over the forecast period. Growing healthcare industry due to expanding population, rising cases of chronic diseases on account of lifestyle changes, growing foreign investments on account of FDI campaign & relaxed investment norms are likely to boost demand of biomedical textiles during the forecast period. Furthermore, various government initiatives particularly in India such as Air Dispensary, The Intensified Mission Indradhanush (IMI), National Nutrition Mission (NNM), LaQshya, and continuation of National Health Mission are also expected to be contributing to the growth of the regional biomedical textiles market over the forecast period.

North America and Europe market is relatively mature due to established healthcare facilities and availability of sophisticated products and is expected to provide limited opportunities to the biomedical textiles market over the forecast period.

The Middle East & Africa is likely to witness rising growth during the forecast period.  GCC countries are expected to witness robust growth during the forecast period owing to various government initiatives such as investments to upgrade hospitals and clinics, build new facilities, and enforce mandatory health insurance schemes in light of local economic, demographic and epidemiological transitions. High rates of illness and mortality caused by chronic diseases due to lifestyle changes are the factor responsible for these government initiatives.

After the recent economic downturn, Latin America is expected to grow at a moderate CAGR over the forecast period. However, the region is witnessing growing imports of medical equipment, which can be directly linked to the rise in the demand for healthcare facilities on account of rising government initiatives to increase access to healthcare, virtual doctors scheme, and rapidly aging population among others.

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