Press release
Biomedical Textiles Market Report- Expansive Coverage on the Profit Sources
The Biomedical Textiles Market Size is valued at USD 15.07 Billion in 2023 and is predicted to reach USD 26.85 Billion by the year 2031 at a 7.69 % CAGR during the forecast period for 2024-2031.
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Recent market snapshot of driver restraints and opportunities:
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
Key factors influencing the global Biomedical Textiles market are:
• Growth In Medical Expenditure
• Rapid Growth In Aging Population
• Growing Tissue Engineering Applications
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:
In addition to the geriatric population's rapid expansion, the market for biomedical textiles is anticipated to expand during the forecast period due to rising health consciousness and technological advances. The demand for biomedical textiles increased during the pandemic because they can be utilized to treat damaged tissues or organs. The expanding market for biomedical textiles is anticipated to generate lucrative opportunities for market leaders.
List of Prominent Players in the Biomedical Textiles Market:
• Paul Hartmann (Germany)
• BSN Medical (Sweden)
• Royal DSM (Netherlands)
• Covidien (Ireland)
• Smith & Nephew (UK)
• Medline Industries (US)
• Braun Melsungen (Germany)
• Cardinal Health (US)
• Integra Life Sciences (US)
• Johnson & Johnson (US)
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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, Smith & Nephew announced its acquisition of Engage Surgical and its cementless partial knee system.
• 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.
Biomedical Textiles Market Dynamics:
Market Drivers: Rapid Growth in Aging Population
Rapidly expanding in the senior population is a significant global market driver. The increased likelihood that elderly individuals will develop cardiovascular, orthopaedic, spinal, or ocular disorders as a result of physiological changes associated with ageing is anticipated to stimulate market expansion. In addition, cellular functions decline with age, resulting in a diminished capacity for the body to heal lesions. Thus, as the elderly population grows, there is an increased demand for wound care products, which in turn stimulates the biomedical textile industry.
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
Soon, the North American Biomedical Textiles Market is anticipated to account for a substantial portion of total revenue and expand at a swift CAGR. This has occurred as a result of increased awareness of home healthcare services. The increasing elderly population in North America, coupled with their growing need for diabetes diagnostic services, has generated a substantial market demand for biomedical textiles. Additionally, there is a growing need for premium products and the most dominant market participants in the area. Additionally, ongoing investments in R&D contribute to the expansion of this market.
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Segmentation of Biomedical Textiles Market-
By Fabric Type-
• Woven Fabric
• Non-Woven Fabrics
By Fiber Type-
• Non- Biodegradable Fiber
• Biodegradable Fiber
• 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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