Press release
Medical Nonwoven Disposables Market to Grow at CAGR of 4% through 2024
The technological advancement in healthcare and increasing demand for advancement in the wound dressing technique are driving the growth of the global medical nonwoven disposable market. The rising government initiatives for manufacturing nonwoven medical fabric is also anticipated to be a crucial factor in determining the progress of the overall market. The report states that the global medical nonwoven disposables market will be worth US$18.4 bn by the end of 2024 as compared to US$12.9 bn in 2015. Between the forecast years of the period of 2016 and 2024, the global market is expected to expand at a CAGR of 4%. The monumental demand for polyethylene due to its low cost is yet another key factor assessed to be responsible for the strengthening of the global medical nonwoven disposables market.
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Surgical Products to Remain in High Demand as their Quality Improves
The global medical nonwoven disposable market is segmented according to the type of products, materials used, end users and geography. According to the type of product, the market is segmented into surgical products, wound dressing, and incontinence products. Further, the surgical products are further segmented into drapes, gowns, caps, masks and others. Technological advancement in the healthcare is a major factor driving the growth of the surgical products. In surgical products, drapes are the widely used products and followed by gowns. The gowns caps and masks are expected to grow at a high CAGR during the forecast period. The wound dressing segment, which is further segmented into bandages, tapes, post – operative wound dressing, operative wound dressing, and dressing pad. The wound dressing segment is driven by post-operative wound dressing products. On the other hand, demand for incontinence products will remain high ambulatory surgical centers and diagnostic centers.
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Increasing Mergers and Acquisitions Put North America in the Lead
In terms of geography, the market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa. North America dominates the medical nonwoven disposables market and is expected to continue to dominate during the forecast period. Increasing number of mergers and acquisitions and technological advancement are major factors contributing to the growth of the medical nonwoven disposables in North America. Europe follows the lead due to the increasing adoption of the usage of medical nonwoven disposables.
Asia Pacific is expected to project a significant growth during the forecast period especially due to increasing awareness in countries like China, India, and Japan. Increasing government expenditure in healthcare is an important factor contributing to the growth of medical nonwoven disposables market in Asia Pacific. International trade development and improving economic condition across countries of Latin America are major factors responsible for the growth of medical nonwoven disposables market in this region. The Middle East and Africa is expected to project a significant growth due to increasing government initiatives and rising awareness regarding the use of medical nonwoven disposables in this region.
The important players shaping the growth of the global medical nonwoven disposables market are Kimberly-Clark Corporation Medline Industries, Inc., Paul Hartmann AG, Mölnlycke Health Care, Ahlstrom Corporation, Asahi Kasei Corporation, Medtronic, Inc., Svenska Cellulosa, Freudenberg & Co. KG, Aktiebolaget SCA, and Domtar Corporation.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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