Rockville, March 30, 2023 (GLOBE NEWSWIRE) -- The global biomedical textiles market is anticipated to be worth US$ 17 billion by 2022-2032, growing at a CAGR of 5%. Throughout the forecast period, the market is expected to be driven by an increase in the number of operations and a demand for high-quality wound dressing material.
Growing health awareness and the technical advancement of biomedical textiles are expected to considerably influence the market in the near future.
North America is expected to lead the worldwide market due to the presence of important players and well developed healthcare centres. The prevalence of obesity is expected to increase demand for biomedical textiles across a range of applications, supporting the industry.
According to data from the National Institutes of Health, around 5 million Americans have heart disorders connected to valves, and 10-15% of the US population has gallstones in the bile duct. Biomedical textiles are among the cutting-edge medical equipment needed for the treatment of such disorders. Also, due to the U.S.'s high investment costs in the development of its healthcare system, profitable market possibilities for growth are anticipated to emerge in the near future.
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Drivers:
- Biomedical textiles are widely used in wound care applications such as dressings, bandages, and other medical devices. The growing incidence of chronic wounds and the increasing demand for advanced wound care products are expected to drive the growth of the biomedical textiles market.
- The development of advanced manufacturing technologies such as electrospinning and 3D printing has led to the production of novel biomedical textiles with improved properties such as increased porosity, biocompatibility, and mechanical strength. These technological advancements are expected to drive the growth of the market.
- Biomedical textiles are used in the production of various implantable medical devices such as vascular grafts, artificial ligaments, and tendons. The increasing demand for implantable devices due to the rising incidence of chronic diseases is expected to drive the growth of the market.
- Governments across the world are taking initiatives to promote the use of advanced medical devices and wound care products, leading to an increased demand for biomedical textiles. For instance, the Affordable Care Act in the United States has led to increased funding for wound care research, leading to the development of advanced wound care products.
Key Market Trends:
- In the biomedical textiles market, smart textiles are being used in wearable medical devices such as activity trackers, smart garments, and health monitors. The integration of smart textiles in medical textiles is expected to drive growth in the market.
- The demand for sustainable and eco-friendly materials in the biomedical textiles market is increasing. Many manufacturers are now using renewable and biodegradable materials such as bamboo, hemp, and recycled polyester to produce biomedical textiles.
- Antimicrobial textiles are fabrics that have been treated to prevent the growth of bacteria, viruses, and fungi. With the growing concern over hospital-acquired infections and the need for infection control, the demand for antimicrobial textiles in the medical industry is increasing.
- The wound care segment of the biomedical textiles market is seeing significant growth due to the increasing demand for advanced wound care products. The development of wound dressings with advanced properties such as antimicrobial properties, self-healing capabilities, and controlled drug release is expected to drive growth in the market.
- The implantable textiles segment of the biomedical textiles market is also seeing growth due to the increasing demand for advanced implantable medical devices. The use of implantable textiles in the production of medical devices such as artificial ligaments, tendons, and vascular grafts is expected to drive growth in the market.
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Restraints:
- Biomedical textiles are often produced using advanced manufacturing technologies and materials, which can be expensive. This high cost of production could limit the growth of the market, especially in developing countries.
- Biomedical textiles are subject to strict regulatory requirements in many countries, which can make it difficult and time-consuming to get products approved for use. This can limit the growth of the market by slowing down the development and commercialization of new products.
- Biomedical textiles often involve the use of animal-derived materials, such as collagen, which can raise ethical concerns among consumers and limit the market for such products
Regional Landscape:
- North America is expected to dominate the market due to presence of key players and highly developed healthcare centers.
- Besides this, China is expected to witness a market value of US $ 3 Bn by 2032. Increasing number of cardiovascular patients is expected to boost the adoption of biomedical textiles in the country.
Competitive Landscape:
The competitive landscape of the biomedical textiles market is highly fragmented, with numerous players operating in the market.
For instance,
- In 2022, Confluent Medical announced significant investment from TPG. The company had signed an agreement to acquire a majority stake in the company.
Key players of the Global Biomedical Textiles Market
- 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 Life Sciences Corporation
- Paul Hartmann AG
- BSN Medical
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Global Biomedical Textiles Market- In-Depth Assessment on Key Segments
- By Fabric
- Non-woven Biomedical Textiles
- Woven Biomedical Textiles
- Knitted Biomedical Textiles
- By Fiber
- Biodegradable Biomedical Textiles
- Non-biodegradable Biomedical Textiles
- By Application
- Biomedical Textiles for Implantable Applications
- Biomedical Textiles for Non-implantable Applications
- Biomedical Textiles for Surgical Sutures Applications
- By End Use
- Biomedical Textiles for Ophthalmology
- Biomedical Textiles for Neurology
- Biomedical Textiles for General Surgery
- Biomedical Textiles for Orthopedics
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