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The demand for medical textile industry market is increasing due to the increasing integration of wearable technology in the medical textile industry, which involves transforming traditional medical textiles into smart and interactive tools for healthcare, which is driving the market growth.
AUSTIN, July 29, 2024 (GLOBE NEWSWIRE) — The medical textiles industry market size is expected to reach USD 48.49 billion by 2032, growing at a CAGR of 4.30% over the forecast period 2024-2032.
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Improving healthcare infrastructure sector in developing countries will drive the market growth.
The demand for medical textiles is growing due to improving healthcare infrastructure, especially in developing countries. Surgical gowns, drapes and wound care products are high-quality medical textiles that are increasingly in demand due to investments in new hospitals, clinics and advanced medical facilities. Improved infrastructure leads to improved healthcare services, increasing the demand for these essential products.
Furthermore, technological developments have led to the emergence of smart textiles with improved functionality and applications, transforming the medical textile market. Recent advances have focused on adding antimicrobial and monitoring capabilities to medical fabrics to significantly improve patient care and safety.
Medtronic launched a new line of antimicrobial wound care products designed to reduce the risk of infection and promote faster healing in 2023. These fabrics incorporate advanced materials that inhibit microbial growth, addressing concerns about wound-related infections.
According to the World Health Organization, global healthcare spending on infection control measures, including medical textiles, has increased significantly. This investment reflects the global drive to improve infection prevention and control in healthcare settings. Hence, all the above factors are driving the growth of the medical textiles industry market.
Additionally, modern healthcare facilities are implementing more stringent infection control measures, including the use of advanced medical textiles, including fabrics with antibacterial properties that increase patient safety by reducing the incidence of hospital-acquired infections. For example, many hospitals now mandate the use of antibacterial surgical gowns and drapes to reduce the risk of surgical site infections.
The story continues
Scope of the Medical Textile Industry Market Report:
Report Attributes
detail
Market size in 2023
$33.2 billion
Market size by 2032
US$48.49 billion
Average annual growth rate
4.30% between 2024 and 2032
Base year
2023
Forecast Period
2024-2032
Historical Data
2020-2022
Main growth drivers
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main character
Some of the major players in the medical textile market include Careismatic Brands, Atex Technologies, Inc., Freudenberg & Co. KG, Kimberly-Clark Corp, Life-Threads, Herculite, Schouw & Co., Fitesa, Bally Ribbon Mills, PurThread Technologies, Inc., Trelleborg AB, and Indorama Corporation.
Segmentation Analysis
By Type
Weaving
Nonwoven
knit
others
The nonwoven segment held the largest market share (48%) in the medical textile industry in 2023. Several key causes have led to significant growth in the nonwoven segment of the medical textile industry. The production of these materials is very economical, providing a cost-effective option for disposable medical supplies such as surgical gowns, masks, and bandages. Their adaptability allows them to perform a variety of tasks, such as increasing absorbency and barrier protection, making them suitable for a wide range of medical applications. The COVID-19 pandemic has increased awareness of hygiene and infection control, calling for disposable products. This has further expanded the use of nonwoven fabrics. Moreover, the fact that they are easy to sterilize and dispose of makes them well compliant with legal requirements and those that keep medical facilities hygienic.
By Application
The healthcare and hygiene segment led the medical textile market, accounting for 45% share of global revenue by application in 2023. The healthcare and hygiene application segment in the medical textile industry is expanding significantly due to the increasing focus on infection control and general health care. Increased understanding of the importance of hygiene in preventing illness is the main driver of this trend. In addition, improvements in textile technology have led to the development of new products with improved antibacterial and comfort properties, increasing their appeal in medical settings. Other industries such as hospitality and food service, where maintaining strict cleanliness and infection control standards is essential, are also seeing an increased focus on hygiene. The robust expansion of the healthcare and hygiene application segment in the medical textile industry is due to the expanding range of applications and the continued focus on infection prevention.
Regional landscape:
Asia Pacific dominated the medical textile market with a revenue share of 38.6% in 2023. Rapid expansion of healthcare infrastructure driven by heavy investments in countries such as China and India is increasing the demand for medical textiles such as surgical gowns and drapes. The region’s population is growing significantly and also has a sizeable geriatric population, which further increases this demand as it requires specialized healthcare and products. Supportive government initiatives and policies such as India’s National Health Policy are also contributing to the growth by improving access to healthcare services. Increased medical tourism in countries such as Malaysia and Thailand, known for high-quality healthcare services, is also driving the demand for advanced medical textiles. These factors combined are propelling the robust expansion of the medical textile industry in Asia Pacific.
Recent developments
Medtronic has announced that it will invest USD 150 million in its manufacturing facilities to increase its production capacity for advanced medical textiles and wound care products in 2023. This investment has enabled the company to expand its market presence.
In 2023, Cardinal Health made a notable investment of $100 million in the expansion of its U.S. manufacturing facilities. The expansion is intended to increase production capacity for medical textiles such as surgical gowns and drapes.
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Highlights:
The medical textile industry is expanding rapidly due to increasing medical demand and technological advances.
Asia Pacific holds the largest market share owing to the expanding healthcare infrastructure and accelerating economic development.
Medical textiles are expanding into new applications such as advanced wound care and smart textiles.
Table of Contents – Main Points
1.First of all
2. Industry Flowchart
3. Research Methods
4. Market Trends
5. Porter’s Five Forces Model
6. Plague Analysis
7. Market Segmentation of Medical Textile Industry (by Type)
8. Market Segmentation of Medical Textile Industry (By Application)
9. Regional Analysis
10. Company Profile
11. Competitive Environment
12. Use Cases and Best Practices
3. Conclusion
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