Global medical textiles market was valued at USD 16,686.6 million in 2018 and is projected to grow at a CAGR of 4.9% by 2025 owing to the rising geriatric population, ongoing technological advancements and stringent legislative framework mandating the use of medical textiles are expected to drive market over the forecast period.
Rising awareness regarding new technologies for wound care, growing diabetic and aging population and support from government in the form of funding non-implantable goods are widely being used worldwide, which is anticipated to propel the growth of the global market of medical textiles.
Medical textiles are used in a myriad of applications ranging from non-implantable goods such as bandages, wound care, pressure garments, prosthetic socks, adhesive tapes, protective eye pads, and orthopedic belts. Technical developments in active implants, tissue engineering, spinal implants, and the socio-economic changes in developing countries, as well as the change in the age structure of the industrialized nations are expected to augment the market growth in the near future.
The global medical textiles market is moderately consolidated in nature, with the presence of a limited number of market players across the globe. Globally the demand for medical textiles is growing, on account of the strong demand base of developed countries coupled with the strengthening demand from developing economies. However, the production is highly concentrated both in terms of geography as well as in terms of market players. Lower manufacturing costs, cheap and skilled labor force are creating opportunities for the emerging markets.
The U.S. medical textiles market is dominated by implantable goods, due to technological advancements which will upsurge patient and provider confidence, lack of alternative treatments for numerous injuries and chronic disorders and injuries. The medical textile industry is globally competitive, with U.S. ranking fourth in global export value after China, India, and Germany. U.S. based medical textile companies are strived to improve their existing products in order to gain competitive edge. High hospital infection rates, cardiovascular diseases, and rising concern regarding aging, favorable regulatory framework are expected to boost demand for medical textile in the region over the forecast period.
Based on fabrics, the global market has been segmented into woven, knitted, non-woven, and others (braided). Non-woven segment dominated the medical textiles industry, accounting for 64.29% of global market volume in 2018 and is projected to grow at a fastest CAGR of 5.0% over the forecast period, owing to better performance of non-woven fabrics in terms of disposability, cost-effectiveness and reduced danger of cross-contamination to a great extent, makes it as one of the most preferred fabric option.
Woven fabric segment was the second largest fabric segment accounting for 15.38% of the global market volume in 2018 and is anticipated to reach 491.8 Kilo Tons by 2025. Woven fabrics typically find their applications in hospital and surgical hosiery, wound contact layer, various types of bandages, artificial tendons, etc. Woven fabrics are comparatively economical and requirement of trained labor is also not prominent, on account of this woven fabrics segment is projected to drive the demand for medical textiles industry over the forecast period.
In terms of revenue, knitted fabric segment was valued at USD 2,130.1 million in 2018 and is expected to grow at a significant rate over the forecast period. Knitted fabrics are used for implantable devices and other applications used in hernia repair, surgical mesh, prolapse devices, reconstructive and cosmetic surgery mesh and various other containment devices.
Bases on application, the industry has been classified into implantable goods, non-implantable goods, healthcare & hygiene products, and others. Implantable goods was projected to be largest application segment accounting for 33.20% of global revenue in 2018. Rise in number of chronic diseases including coronary heart diseases, cholesterol, and hypertension is expected to positively impact the demand for medical textiles in the implantable goods segment.
Non-implantable goods segment was the largest application segment accounting for 32.24% of the global market volume in 2018. Rising awareness regarding new technologies for wound care, growing diabetic and aging population, and support from the government in the form of funding non-implantable goods are widely being used worldwide, which is anticipated to propel the growth of over the forecast period.
Rising awareness among the consumers, rapidly growing middle class, increasing disposable income the global medical textiles industry will gain momentum over the forecast period. Ongoing advancements in medical science and textile industry coupled with changing demographics and consumer demand are anticipated to boost the market over the forecast period.
North America is anticipated to dominate the medical textiles sector owing to remarkable growth in end-use businesses including Implantable goods and Healthcare & hygiene products. In 2018, North America was accounted largest revenue share for 32.82% of overall medical textile industry. Rising awareness regarding new technologies for wound care, growing diabetic and aging population and government funding is anticipated to propel the market over the forecast period.
Europe constituted the second-largest market share of the overall market in 2018. Implantable goods application segment dominated European medical textiles industry followed by healthcare & hygiene products Northern European countries, including Germany, UK and Sweden, are anticipated to witness a more robust recovery in health care spending over the forecast period.
In terms of revenue, Asia Pacific was the third largest region with 27.08% market share in 2018, Non-woven fabric segment is expected to achieve highest gains over the forecast period in the region, on account of increasing penetration of disposable baby diapers, feminine hygiene products, rising manufacturing capacity for products that consume significant amounts of nonwovens.
Key industry participants include Freudenberg & Co. KG, ATEX Technologies, Inc, Bally Ribbon Mills, Vestagen Technical Textiles, Inc., Proxy Biomedical Ltd., LifeThreads, Strategic Partners, Inc., Bluestar Silicones International, Biomedical Structures, Inc, and Medical Grade Innovations.
Manufacturing companies are leveraging this opportunity to position themselves favorably in the global market of medical textiles to gain the confidence of customers and expand their geographical presence, especially in the developing economies. Large market players are focused on expanding their product lines to address the changing consumer preferences of custom-made solutions and minimizing product development risks while small market players are actively involved in competing with large manufacturing giants, increasing their profit margins.
This report forecasts revenue growth at global, regional & country levels, and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global Medical Textiles market on the basis of fabric, application, and region.
- Fabric Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 – 2025)
- Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 – 2025)
- Implantable goods
- Non-implantable goods
- Healthcare & hygiene products
- Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 – 2025)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Central & South America
- Middle East and Africa
- North America