Medical Nonwoven Disposables Market is expected to progress at a CAGR of 4% period of 2016 and 2024
According to the TMR report, the global medical nonwoven disposable market had been evaluated at US$12.9 bn in 2015. The market is expected to progress at a CAGR of 4% within a forecast period of 2016 and 2024, reaching US$18.4 bn by the end of 2024.
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medical nonwoven disposables market
Surgical Products in high Profitability among Medical Nonwoven Disposables
Wound dressings, incontinence products, and surgical products are the key products in the global medical nonwoven disposables market, among which surgical products segment is likely to dominate market shares in value over the coming years. Surgical products, as a part of this market are projected to take up a share of 52.0% by the end of the report’s forecast period.
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North America could very well acquire a dominant share in the global medical nonwoven disposables market, by the end of the report’s given forecast period. Although North America did experience a minor fall in demand in the recent years, a firm infrastructure in its healthcare industry boosted by a high rate of advancements, increasingly favorable reimbursement policies, and high awareness and access to healthcare amongst patients are likely to allow North America to continue dominating the global medical nonwoven disposables market over the coming years.
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Geriatric Population Surge to Improve Demand for Medical Nonwoven Disposables
“The stunning increase in the geriatric population over the recent years has been the primary growth driver for the global medical nonwoven disposable market till now. The high vulnerability towards infections and illnesses of this demographic implies the need for persistent care and advanced medical products, including medical nonwoven disposables. The global medical nonwoven disposables market is also expected to profit from the rise in the rates of epidemics including Ebola, H1N1 virus, Chikungunya, and SARS. These epidemics have been the top reason why the demand for medical nonwoven disposables is skyrocketing at the moment,” states a TMR analyst.
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Government Initiatives Swing Favor Towards Nonwoven Disposables
The demands for advanced tech in both product and manufacturing have pushed players in the global medical nonwoven disposables market to add features including anti-microbial properties and high absorbency in order to diminish the chances of cross-contamination. Additionally, a rising volume of government schemes and initiative that are aimed at reducing the number of infections and simultaneously enhance the manufacturing capabilities, massively benefitting the global market. The market is also driven by the rise in awareness on nosocomial infections.
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.
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