Revolutionizing Healthcare: The Rise of Biomedical Textiles

The Business Research Company recently released a comprehensive report on the Global Biomedical Textiles Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The biomedical textiles market size has grown strongly in recent years. It will grow from $15.63 billion in 2023 to $16.74 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to infection control prioritization, global health emergencies, focus on regenerative medicine, prevalence of chronic diseases.

The biomedical textiles market size is expected to see strong growth in the next few years. It will grow to $23.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to consumer health and wellness trends, global health preparedness, military and defense applications, personalized medicine needs, telemedicine and wearable health. Major trends in the forecast period include advancements in medical technology, research collaborations, sustainable textiles trend.

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Market Drivers and Trends:

The rising healthcare expenditure is expected to propel the growth of the biomedical textiles market going forward. Healthcare expenditure refers to the amount of money spent on healthcare goods and services, including medical equipment, pharmaceuticals, hospital care, physician services, and other healthcare-related expenses. It directly influences investment in advanced medical treatments, technologies, and healthcare infrastructure. The rising healthcare expenditure led to investments in advanced medical treatments and technologies, which has further contributed to the demand for specialized biomedical textile materials. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Furthermore, spending on preventive care was $45.72 billion in 2021, more than doubling from 2020. Therefore, rising healthcare expenditures are driving the growth of the biomedical textiles market.

Product innovations are the key trends in the biomedical textiles market. Major players in the market are focusing on research and development to launch innovative products in the growth market. For instance, in March 2022, Fabiosys Innovations, an India-based healthcare products manufacturer launched Fabium, a medical textile developed using Hi-PAT technology, which makes it highly effective against viruses, bacteria, and fungi. To create this fabric, raw cotton fabric is processed using standard textile processing equipment while exposed to various proprietary chemical formulas.

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Major Key Players of the Market:

Koninklijke DSM N.V., Confluent Medical Technologies, Cardinal Health Inc, Johnson & Johnson Services Inc, B. Braun Melsungen AG, Smith & Nephew plc, Meister & Cie AG, Medline Industries Inc, 3M Company, ATEX Technologies, Integra Life Sciences Corporation, Paul Hartmann AG, BSN Medical GMBH, Elkem ASA, Bally Ribbon Mills, Asahi Kasei Corporation, Freudenberg Medical LLC, Getinge AB, Halyard Health, Kimberly-Clark Corporation, Milliken & Company, Molnlycke Health Care AB, Precision Fabrics Group Inc., Secant Group LLC, Stradis Healthcare, Tietex International Ltd., Trelleborg AB, United Medical Industries Co. Ltd., Vestagen Protective Technologies Inc., W.L. Gore & Associates Inc., Weaving Machinery UK Ltd., Welspun Group, Zimmer Biomet Holdings

Biomedical Textiles Market 2024 Key Insights:

• The biomedical textiles market size is expected to see strong growth in the next few years. It will grow to $23.1 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Prevalence Of Chronic Diseases Drives Biomedical Textiles Market
• Fabiosys Innovations Introduces Innovative Biomedical Textile With Hi-Pat Technology To Combat Viruses And Bacteria
• North America was the largest region in the biomedical textiles market in 2023

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