Medical Textiles Industry Overview
The global Medical Textiles Market was valued at USD 32.20 billion in 2022. Projections indicate a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. This expansion is primarily fueled by increased awareness of the importance of enhanced healthcare services and effective medical treatments, which in turn boosts the demand for high-quality medical-grade textile products. The market is also seeing a significant uplift due to the growing adoption of medical textile-based implantable devices, such as artificial tendons, ligaments, and various body enhancements. Furthermore, the global aging population is a key contributor to this growth, as it correlates with a rise in knee and joint replacement surgeries, consequently driving the need for these implantable goods and stimulating market expansion.
The COVID-19 pandemic profoundly impacted numerous countries, including the U.S., prompting substantial investments in healthcare infrastructure. This included increasing hospital bed capacity and bolstering domestic production of personal protective equipment (PPE). For example, in 2021, Honeywell Corporation expanded its manufacturing facility in Smithfield, Rhode Island, specifically to produce N95 masks for the Strategic National Stockpile, directly addressing the critical PPE demand during the pandemic.
Detailed Segmentation:
- Application Insights
In terms of applications, the healthcare and hygiene segment dominated the global industry capturing a significant share of 43.15% of the overall revenue in 2022. This segment encompasses diverse products like face masks, medical bags, gowns, shoe covers, wipes, bedsheets, maternity pads, incontinence pads, drapes, caps, and sanitary napkins. The increasing demand for healthcare and hygiene items can be attributed to government initiatives, growing hygiene awareness, and advancements in textile technology.
- Type Insights
The non-woven segment dominated the market and held a substantial global revenue share of 45.91% in 2022. It is anticipated to maintain strong growth throughout the forecast period, driven by its exceptional properties, such as high air permeability, superior strength-to-weight ratio, high bacterial resistance, and excellent water vapor transmission capacity. Furthermore, the demand for non-woven medical textiles has experienced a significant surge due to the global impact of the COVID-19 pandemic. The need for personal protective equipment (PPE), including face masks and gowns, escalated in 2020 and to some extent in 2021 as measures were undertaken to control the transmission of the virus.
- Regional Insights
Asia Pacific dominated the market with a revenue share of 35.46% in 2022. It is anticipated to maintain its dominance with the highest compound annual growth rate (CAGR) of 5.7% during the forecast period. The regional growth can be attributed to new non-woven fabric manufacturing facilities in China, Japan, India, Australia, South Korea, and Thailand. Medical textile companies in the region have expanded their production lines and capacities to meet the increasing demand for raw materials used in producing PPE, such as face masks and surgical gowns. Governments and key players in countries like India, Japan, and South Korea offer technological and financial support to accelerate production, positively impacting market growth.
Gather more insights about the market drivers, restraints, and growth of the Medical Textiles Market
Key Companies & Market Share Insights
Notable players in the industry are implementing various strategies to maintain a competitive edge. These strategies include launching new product lines, expanding production capacities through new units, collaborating with PPE manufacturers and healthcare institutions, and acquiring small-level players for product and geographical expansion. Niche players and visionaries in the market concentrate on local markets and expand their businesses through collaborations with larger players. These companies also prioritize the development of innovative products to establish a unique market position.
Some of the key players in the global medical textiles market are:
- Atex Technologies, Inc.
- Life-Threads
- Careismatic Brands
- Bally Ribbon Mills
- Freudenberg & Co. KG
- Trelleborg AB
- Indorama Corporation
- Herculite
- PurThread Technologies, Inc.
- Fitesa
- Schouw & Co.
- Kimberly-Clark Corp.
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