Austin, July 29, 2024 (GLOBE NEWSWIRE) -- The Medical Textile Industry Market Size is projected to reach USD 48.49 Billion by 2032 and grow at a CAGR of 4.30% over the forecast period of 2024-2032.
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Improved healthcare infrastructure sector in developing countries drives market growth.
The need for medical textiles is being driven by improved healthcare infrastructure, particularly in developing nations. Surgical gowns, drapes, and wound care items are among the high-quality medical textiles that are becoming more and more in demand due to investments in new hospitals, clinics, and advanced medical facilities. Improved infrastructure facilitates improved healthcare delivery, which increases demand for these necessary goods.
Moreover, technological developments are bringing smart textiles with improved functionality and applications, which are transforming the medical textile market. To greatly enhance patient care and safety, recent advances have concentrated on adding antibacterial qualities and monitoring capabilities into medical fabrics.
In 2023, Medtronic launched a new line of antimicrobial wound care products designed to reduce infection risks and promote faster healing. These textiles incorporate advanced materials that inhibit microbial growth, addressing concerns about wound-related infections.
According to the World Health Organization, the global healthcare expenditure on infection control measures, including medical textiles, has increased significantly. This investment reflects the global commitment to improving infection prevention and control in healthcare settings. Therefore, all the above-mentioned factors drive the market growth of the medical textile industry market.
Furthermore, stricter infection control measures are being implemented by contemporary healthcare facilities, and one such measure is the use of sophisticated medical textiles. This includes fabrics that have antibacterial qualities, which enhance patient safety by lowering the incidence of hospital-acquired infections. To reduce the risk of surgical site infections, for instance, many hospitals now require the use of antimicrobial surgical gowns and drapes.
Medical Textile Industry Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 33.20 billion |
| Market Size by 2032 | USD 48.49 billion |
| CAGR | 4.30% by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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Key Players
The major key players listed in the medical textiles market are Careismatic Brands, Atex Technologies, Inc., Freudenberg & Co. KG, Kimberly-Clark Corp, Life-Threads, Herculite, Schouw & Co., Fitesa, Bally Ribbon Mills, PurThread Technologies, Inc., Trelleborg AB, Indorama Corporation, and other players.
Segmentation Analysis
By Type
- Woven
- Non-Woven
- Knitted
- Others
The non-woven segment held the largest market share a 48% share in the medical textile industry in 2023. Due to a number of important causes, the medical textile industry's non-woven fabrics segment is growing significantly. Producing these materials is incredibly economical, providing a cost-effective option for single-use medical supplies like surgical gowns, masks, and bandages. Because of their adaptability, they may be made to perform a variety of tasks, such as improved absorbency and barrier protection, which qualifies them for a broad range of medical applications. The COVID-19 pandemic has boosted awareness of hygiene and infection management, which has led to a desire for single-use, disposable products. This has expanded use of non-woven materials even further. Furthermore, the fact that they are simple to sterilize and dispose of complies well with legal requirements and the requirement to keep healthcare facilities sanitary.
By Application
- Implantable Goods
- Non-Implantable Goods
- Healthcare & Hygiene Product
- Others
The healthcare and hygiene segment led the medical textiles market and held 45% share of global revenue in 2023 by application. Due to a growing focus on infection control and general health management, the medical textile industry's healthcare and hygiene application segment is expanding significantly. The increased understanding of the significance of hygiene in preventing diseases has been a major driver of this trend. Furthermore, new goods with greater antibacterial qualities and increased comfort have been developed as a result of textile technological improvements, which has increased their attractiveness in healthcare settings. Other industries, such as hospitality and food services, where upholding strict standards of cleanliness and infection control is essential, are also seeing an increase in the focus on hygiene. The solid expansion of the healthcare and hygiene application segment in the medical textile industry can be attributed to the expanding application range and the continued dedication to infection prevention.
Regional Landscape:
The Asia Pacific region dominated in the medical textile market with a 38.6% revenue share in 2023. Rapid expansion in healthcare infrastructure, driven by substantial investments in countries like China and India, is increasing the demand for medical textiles such as surgical gowns and drapes. The region’s large and growing population, including a significant elderly demographic, further fuels this demand as it necessitates specialized medical care and products. Supportive government initiatives and policies, such as India’s National Health Policy, are also contributing to the growth by improving access to healthcare services. The rise of medical tourism in countries like Malaysia, and Thailand, known for their high-quality healthcare services, also drives demand for advanced medical textiles. Collectively, these factors are driving the robust expansion of the medical textile industry in the Asia-Pacific region.
Recent Developments
- In 2023, Medtronic announced a USD 150 million investment in its manufacturing facilities to enhance production capacities for advanced medical textiles and wound care products. This investment helped the company to increase its presence in the market.
- In 2023, Cardinal Health made a notable investment of USD 100 million in expanding its U.S. manufacturing facilities. This expansion aims to enhance its production capacity for medical textiles, including surgical gowns and drapes.
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Key Takeaways:
- The medical textile industry is rapidly expanding due to rising healthcare demands and technological advancements.
- The Asia Pacific region holds the largest market share due to expanding healthcare infrastructure and rising economic development.
- Medical textiles are expanding into new applications, including advanced wound care and smart textiles
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Medical Textile Industry Market Segmentation, By Type
8. Medical Textile Industry Market Segmentation, By Application
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
3. Conclusion
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