- Technavio’s research report segments medical textile market by product type (implantable goods, non-implantable goods, and healthcare and hygiene products), and by applications (surgical dressings, surgical suture, healthcare textiles, diapers, medical implants and medical implants and devices). The report highlights the market shares of key regions including Europe, North America, APAC, and ROW. The report details top five vendors in the market, including Beiersdorf, Johnson & Johnson, Honeywell International, Covidien, and 3M.
Technavio presents an in-depth analysis of the technical textiles market, with the publication of its new report, Medical Textiles Market: Global Trends, Demand, and Forecast 2015-2019.
The global market for medical textiles, one of the fastest growing segments of technical textiles, is expected to reach over $11000 million by 2019. The “implantable goods” segment is the premier revenue-generating segment of the technical textiles market exhibiting the highest growth rate reaching over 50% in 2019. Absence of alternative treatment for injuries and chronic diseases and subsequent development of next generation devices is the most crucial driving factor for the implantable goods market.
Europe is expected to dominate the medical textiles market by occupying around 46% of the market revenue, followed by North America, APAC and ROW. As per UN’s world population prospectus report, the proportion of Europeans aged 65years and above was 16% in 200 and is likely to grow by 24% in 2030. Hence, ageing population and chronic diseases will appear to drive the medical textile market between 2015 and 2019.
Source: Technavio Research
“The rise of an aging population, increased birth-rate, and better awareness about hygiene among women in developing countries is driving the global healthcare textile market. Increasing access to better healthcare facilities, and medical tourism is also boosting the growth percentage of this market through 2019,” says Imran Mushtaq, Lead Analyst, Healthcare, Technavio Research.
A remarkable trend emerging in the market is the increased usage of nanofibers, which are made of biodegradable and biocompatible materials. The significant biomedical uses of nanofiber are wound healing, tissue engineering and regeneration. Other common biomedical textiles gaining momentum are polyethylene terephthalate, polyether ether ketone, and polypropylene etc. which build verities of structures.
The market is dominated by large global vendors such as Beiersdorf India Pvt. Ltd, Johnson & Johnson, Honeywell International Covidien and 3M Healthcare. Beiersdorf has recently opened a new production plant and Innovation centre in Mexico in July 2014.
This report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
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