Medical Textiles Market: Europe Is Expected To Exhibit A Revenue-Based CAGR Of 4.2% From 2021 To 2028
Medical Textiles Industry Overview
The global medical textiles market size is expected to reach USD 26.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.5% from 2021 to 2028. The emergence of new areas of applications of medical textiles, along with the development of new fibers and manufacturing technologies for yarn and fabrics, is expected to bolster the market growth over the forecast period.
Medical textile manufacturers are significantly investing in the research and development of new cost-effective methods to protect both the patients and hospital staff from viruses, bacteria, and body fluid invasions in operating room environments. This, in turn, is expected to positively influence the market growth over the forecast period.
The COVID-19 outbreak in 2020 has exponentially increased the demand for medical textiles, especially nonwoven fabrics, which are used for the production of face masks, gowns, and other PPE products. Moreover, nonwoven fabrics witness higher growth owing to their vapor transmission capacity, higher bacterial resistance, and higher strength compared to other fabrics.
Medical Textiles Market Segmentation
Grand View Research has segmented the global medical textiles market on the basis of product, application, and region:
Based on the Product Insights, the market is segmented into Woven, Knitted, Non-woven, and Others.
- Non-woven medical textiles have witnessed a spike in demand due to the global outbreak of the COVID-19 pandemic. The demand for personal protective equipment (PPE), such as face masks and gowns, has significantly increased to curb virus transmission. Governments across several countries have passed strict regulations for wearing face masks in public places at all times.
- The knitted medical textiles product segment is expected to expand at a revenue-based CAGR of 3.4% on account of the rising demand for the production of artificial blood vessels, cell scaffolds, hernia patches, and tissue re-engineering applications owing to their better porosity and structural efficiency compared to woven fabrics.
Based on the Application Insights, the market is segmented into Implantable Goods, Non-implantable Goods, Healthcare & Hygiene Products, and Other Applications.
- The healthcare and hygiene products segment led the market and accounted for over 45.0% share of the global revenue in 2020. The segment is also expected to witness the highest growth in the years to come. Health and hygiene products such as face masks, gowns, medical bags, shoe covers, bedsheets, incontinence pads, maternity pads, drapes, caps, wipes, and sanitary napkins form one of the largest application areas of medical textiles.
- The non-implantable goods segment is expected to register a revenue-based CAGR of 4.4% over the forecast period. The demand for non-implantable goods is expected to be driven by the growing number of surgeries globally as non-implantable goods protect wounds and stitches from the external environment.
Medical Textiles Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies & Market Share Insights
The leading players in the market are following strategies, such as the launch of new product lines, expansion of production capacities by setting up new production units, collaborations with PPE manufacturers and healthcare institutions, and acquisitions of small-level players in different countries for product and geographical expansion of businesses. This would help them to gain a competitive edge in the market over other players and maintain their position in the market.
The niche players and visionaries in the market are focusing on catering to the local markets and expanding their businesses through collaborations with large players. They also focus on the development of innovative products to establish their unique position in the market. Some prominent players in the global medical textiles market include:
- Atex Technologies, Inc.
- Life-Threads
- Careismatic Brands
- Bally Ribbon Mills
- Freudenberg & Co. KG
- Trelleborg AB
- Indorama Corporation
- Herculite
- PurThread Technologies, Inc.
- Fitesa
- Schouw & Co.
- Kimberly-Clark Corporation
Order a free sample PDF of the Medical Textiles Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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