“Biomedical Textiles Market” in terms of revenue was estimated to be worth $15.07 billion in 2023 and is poised to reach $26.85 billion by 2031, growing at a CAGR of 7.69% from 2024 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Biomedical Textiles market are:
- Growth In Medical Expenditure
- Rapid Growth In Aging Population
- Growing Tissue Engineering Applications
The following are the primary obstacles to the Biomedical Textiles market’s expansion:
- Requirements For High Investments
- Government Regulatory Standards
- Complex Processing Of Producing Quality Textiles
Future expansion opportunities for the global Biomedical Textiles market include:
- Development Of Smart Biomedical Textiles
- Growing Awareness About Sustainable Solutions
- Market Expansion By Major Players
Market Analysis:
The growing health awareness and technical advancements in biomedical textiles are driving the market growth for the forecast period along with the rapidly increasing aging population. Furthermore, there was an increase in demand for Biomedical Textiles during the pandemic because organs or damaged tissues can be treated with the help of biomedical textiles. The growing demand for Biomedical Textiles will likely create gainful opportunities for major players to boost the market expansion.
List of Prominent Players in the Biomedical Textiles Market:
- Paul Hartmann (Germany)
- BSN Medical (Sweden)
- Royal DSM (Netherlands)
- Covidien (Ireland)
- Integra Life Sciences (US)
- Johnson & Johnson (US)
- Smith & Nephew (UK)
- Medline Industries (US)
- Braun Melsungen (Germany)
- Cardinal Health (US)
Biomedical Textiles Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 15.07 billion |
|
Revenue forecast in 2031 |
USD 26.85 billion |
|
Growth rate CAGR |
CAGR of 7.69% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Fiber Type, Fabric Type, Applications |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Recent Developments:
- In December 2021, Royal DSM acquired Vestkorn Milling, a leading European producer of pea and bean-based ingredients for plant-based protein products.
- In January 2022, the Johnson & Johnson Medical Devices Companies (JJMDC) announced their collaboration with Microsoft to enable and grow JJMDC’s compliant digital surgery ecosystem.
- In January 2022, Smith & Nephew announced its acquisition of Engage Surgical and its cementless partial knee system.
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Biomedical Textiles Market Dynamics:
Market Drivers: Rapid Growth in Aging Population
The quick growth in the elderly population is a major global market driver. Since older people are more likely to develop cardiovascular, orthopedic, spinal, or ocular disorders which are due to physiological changes in an aged body, this is expected to fuel market growth. Furthermore, with increasing age, a body’s capacity to heal wounds decreases due to decreased cellular functions. So among all, the elderly people need more wound care products, which drives the demand for biomedical textiles as the aging population increases.
Challenges: Requirements for High Investments
Biomedical textiles are some advanced materials that help in resisting a variety of bacteria, fire, fungi, stains, and water. The evolution of such fabrics involves extensive R&D to provide specialized products that meet healthcare specifications. The R&D costs corresponding to producing quality fabrics are high due to technology, labor, and other related costs. Furthermore, producing such materials also requires efficient machinery and adequate raw materials used in antimicrobial biomedical textiles.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North American Biomedical Textiles Market is likely to register a significant revenue share and develop at a rapid CAGR shortly. This is due to the increased home healthcare awareness and services. The North America’s aging population and their demand for services to diagnose diabetes has resulted in a significant demand for Biomedical Textiles. Further there is an increasing demand for the high quality products and the most concentrated market players in the region. The continuous investments in R&Ds also support the growth of this market.
Segmentation of Biomedical Textiles Market-
By Fiber Type-
- Non- Biodegradable fiber
- Biodegradable Fiber
By Fabric Type-
- Woven Fabric
- Non-Woven Fabrics
- Others
By Application-
- Non-Implantable
- Surgical Sutures
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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