Albany, NY, Aug. 08, 2018 (GLOBE NEWSWIRE) -- According to the market intelligence study by Transparency Market Research, in 2015, the global medical nonwoven disposables market was worth US$12.9 bn and is predicted to reach a value of US$18.4 bn by the end of 2024. The market is projected to register a healthy 4.0% CAGR between 2016 and 2024.
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North America and Europe Markets to Witness High Growth in Next Few Years
The global market for medical nonwoven disposables has been categorized on the basis of geography into the Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. Among these, North America is expected to lead the market with a large share throughout the forecast period. The rising number of mergers and acquisitions and the advancements in this field are projected to enhance the growth of the North America market in the next few years.
Furthermore, Europe is estimated to witness strong growth in the next few years, owing to the rising adoption of the usage of medical nonwoven disposables. The rising awareness in several countries, such as India, China, and Japan is predicted to accelerate the growth of the Asia Pacific market for medical nonwoven disposables market in the near future.
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The global medical nonwoven disposables market has been classified on the basis of product type into wound dressing, surgical products, and incontinence products. The surgical products segment is estimated to account for a large share of the overall market in the next few years. The strong growth of the healthcare segment is one of the major factors is projected to enhance the growth of this segment in the next few years. As per the research study, this segment is projected to register a healthy growth rate in the coming few years.
Rising Cases of Illness and Infections to Accelerate Market Growth in Near Future
The increasing pool of elderly and the rising cases of illness and infections are some of the major factors that are estimated to encourage the growth of the medical nonwoven disposables market in the next few years.
The increasing occurrence of the epidemics, including Ebola, H1N1 virus, Chikungunya, and SARS is projected to accelerate the growth of the overall market in the coming few years. In addition to this, the growing demand for superior technology in the manufacturing sector is likely to accelerate the growth of the market in the near future.
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The global market for medical nonwoven disposables is highly fragmented in nature with a large number of players operating in it across the globe, states a new study by Transparency Market Research. In 2015, the three leading players in the market, namely Paul Hartmann AG, Kimberly-Clark Corporation, and Svenska Cellulosa held a share of around 39% in the overall market. These players are projected to remain in the leading position in the coming few years.
These players are focusing on the development of new products and technological advancements, which is projected to encourage the overall growth of the market in the next few years. Furthermore, the rising number of strategic collaborations and mergers and acquisitions is predicted to enhance the competitive environment of the overall market in the next few years.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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