Biomedical Textile Market
A prominent research firm, Cognizance Market Research added a cutting-edge industry report on "Global Biomedical Textile Market". The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Global Biomedical Textile Market Analysis:
According to Cognizance Market Research the Global Biomedical Textile Market is valued at US$ 13.6 Billion and is anticipated to reach US$ 23.8 Billion by the end of 2030 within expected to register a CAGR of 7.3% from 2023 to 2030.
What is Global Biomedical Textile Market?
A specific kind of textile called a biomedical textile is utilised in a range of medical and healthcare applications. These textiles are made to be biocompatible, durable, flexible, and permeable, among other needs. With a wide range of creative solutions for diverse medical demands, biomedical textiles have appeared as a crucial element in the field of medical textiles.
The quest for innovative materials that can enhance patient outcomes and save healthcare costs has resulted in a significant expansion of the usage of biomedical textiles in recent years. New products, like as surgical meshes, sutures, prosthetic heart valves, vascular grafts, and drug delivery systems, have been made possible through the invention of biomedical textiles. These goods supply a number of advantages, including higher biocompatibility, less risk of infection, improved healing, increased ease of the sufferer.
The market for textiles made especially for use in medical and healthcare applications is referred to as the global biomedical textile market. These fabrics are utilised for many different things, such as medication administration, implanted devices, surgery, and wound care.
A wide range of items, including sutures, surgical meshes, orthopaedic implants, artificial heart valves, vascular grafts, and drug delivery systems, are available in the biomedical textile market. Usually constructed of synthetic or natural fibres, these items are intended to be long-lasting, non-toxic, and biocompatible.
The need for sophisticated medical textiles, the expanding elderly population, and the rising prevalence of chronic illnesses are some of the factors driving the worldwide biomedical textile market. Additionally, the invention of novel biomedical textile products that enhance patient outcomes and performance has been eased by the development of new production processes and materials.
Global Biomedical Textile Market Outlook:
Primarily, the market is predicted to increase due to the rising need for innovative medical textiles. Advanced medical textiles that can supply enhanced performance and better patient outcomes are becoming more and more necessary as the population ages and the frequency of chronic illnesses grows.
Second, it is anticipated that the introduction of fresh materials and production processes would spur market innovation. New opportunities for the creation of biomedical textiles with improved features, such as greater biocompatibility, higher durability, and improved flexibility, are emerging as a result of developments in materials science, biotechnology, and nanotechnology.
Third, the demand for biomedical textiles is anticipated to rise as the focus on healthcare cost management increases. By increasing the effectiveness of surgical operations, lowering the risk of infection, and improving patient outcomes, these items can help lower the cost of healthcare.
The biomedical textile market is anticipated to develop significantly in the Asia Pacific region, driven by rising healthcare infrastructure investment, rising medical tourism, and a sizable patient population.
The global market for biomedical textiles is anticipated to expand overall in the upcoming years due to a confluence of economic, technical, and demographic trends.
The global biomedical textile market can be segmented into several categories based on product type, material type, application, and region.
The market may be divided into categories based on the kind of product, including orthopaedic implants, non-implantable materials, and surgical sutures. Because surgical sutures are used so often in surgical operations, they are predicted to make up the majority of the market.
The market may be divided into non-biodegradable and biodegradable segments based on the kind of material used. A bigger market share for non-biodegradable materials is anticipated because of their better toughness and durability.
The market may be divided into wound care, orthopaedics, cardiovascular, ophthalmology, and others based on application. Due to the increasing frequency of chronic wounds, wound care is anticipated to be the largest category.
These segmentations offer a thorough insight of the worldwide biomedical textile industry, helping businesses to pinpoint and expand into certain niches.
Based on geography the Global biomedical textile market has been segmented into five main regions namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
On a worldwide scale, North America dominates the market for biomedical textiles. Due to the high healthcare expenditure, sophisticated healthcare infrastructure, and presence of significant market players, the region is predicted to dominate the market. The market in North America is expected to expand as a result of the rising incidence of chronic illnesses and the rising need for sophisticated medical textiles. The two biggest markets in this area are the US and Canada.
The biomedical textile industry is expanding at the quickest rate in Asia Pacific, which is regarded as a developing market. The region is anticipated to expand as a result of increased healthcare expenditures, a sizable patient base, and an increase in the prevalence of chronic illnesses. The market in this region is also being driven by the rising use of innovative medical textiles and the rise in medical tourism. The principal markets in this area are China, Japan, India, and South Korea.
The report offers the revenue of the Global biomedical textile market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year and 2023 to 2030 as the forecast year. The report also supplies the compound annual growth rate (CAGR) for the Global biomedical textile market for the forecast period. The Global biomedical textile market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the Global biomedical textile market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the Global biomedical textile market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global biomedical textile market. Secondary research involved a detailed analysis of significant players’ product portfolio. Literature review, press releases, annual reports, white paper, and relevant documents have been also studied to understand the Global biomedical textile market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segmented included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the Global biomedical textile market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in taking part in the Global biomedical textile market. The subsequent section of the Global biomedical textile market report highlights the USPs, which include key industry events (Type launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenario.
Global Biomedical Textile Market Competitive Landscape:
Some of the prominent players in the global biomedical textile market include:
- Medtronic plc
- Bard (a subsidiary of Becton, Dickinson and Company)
- Johnson & Johnson Services, Inc.
- Boston Scientific Corporation
- Teleflex Incorporated
- Cardinal Health, Inc.
- Braun Melsungen AG
- Trajan Scientific and Medical
- Medtronic plc
- DSM N.V.
- Covestro AG
- PolyNovo Limited
- STR, LLC
- Acera Surgical Inc.
- Amedica Corporation
To increase the number of venous treatments it offered, privately held biomedical textile business Vesper Medical, Inc. was bought by Medtronic plc in 2021. With the purchase of Vesper Medical, Medtronic is now able to provide a whole spectrum of treatments for venous illness, from diagnostic to treatment, including the Venous Stent, which is used to treat patients with deep venous obstructive disease.
The report explores the competitive scenario of the Global biomedical textile market. Major players working in the Global biomedical textile market have been named and profiled for unique commercial attributes. Company overview (company description, Type portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Global biomedical textile market report.
Global Biomedical Textile Market, By product Type:
- Orthopaedic Implants
- Non-Implantable Materials
- Surgical Sutures
Global Biomedical Textile Market, By Material Used:
Global Biomedical Textile Market, By application:
- Wound Care
Global Biomedical Textile Market , By Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa