Global Biomedical Textiles Market: Key Highlights
- According to the new market research report “Biomedical Textiles Market by Fiber (Non-biodegradable, Biodegradable), by Fabric Type (Non-woven, Woven), by Application (Non-Implantable, Implantable, Healthcare & Hygiene), by Region (North America, Asia Pacific, Europe, Middle East and Africa, South America) – Global Forecast (2019 to 2027)”, the global biomedical textiles market is projected to reach a value of over USD 18 Billion, registering a CAGR of 4.8% during the review period
- Biomedical textiles are fibrous structures designed for use in specific biological environments. Their performance is dependent on biocompatibility with cells and biological tissue or fluids
- These textiles should be non-toxic, non-carcinogenic, non-allergic, and chemically inert as well as should exhibit high strength, durability, and flexibility
- Sutures, vascular grafts, heart valves, hernia mesh, tissue implants, nerve guidance channel, corneal lenses, artificial skin, artificial joints are some of the applications where biomedical textiles are used
Global Biomedical Textiles Market: Key Market Dynamics
- Growing number of surgeries across the globe is the primary driver for the global biomedical textiles market
- Increasing prevalence of sedentary diseases such as obesity, diabetes, cancer, and others, is likely to drive the demand for such textiles
- Furthermore, rising geriatric population with a will to live healthy lifestyle fuels the use of biomedical textiles in artificial joints
- Extensive use of biomedical textiles in gowns, caps, wipes, drapes, beddings, sanitary napkins, and others is another key driver of the global market
- Demand for such protective clothing is expected to increase due to international travel, medical tourism, and rising awareness amongst the consumers
- Introduction of Electronic Textiles to study and scrutinize cardiovascular, respiratory, and neurological disorders is a key opportunity for players in this market
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Global Biomedical Textiles Market: Regional Overview
- North America
North America accounted for the largest market share in 2018 due to the higher healthcare spending and technological innovation. Rising prevalence of cardiovascular diseases is a key driver of the global biomedical textiles market. According to the American Heart Association, the cardiovascular disease accounted for 840,678 deaths in the US in 2016, approximately 1 of every 3 deaths.
Asia-Pacific emerged as the fastest growing region for this market on the backdrop of high prevalence of diseases, rising geriatric population, and availability of low cost labor and raw materials. According to World Economic Forum, the total healthcare spending of the ASEAN nations was an estimated USD 420 billion in 2017 and is expected to increase by 70% over the next two decades.
Global Biomedical Textiles Market: Key Players Overview
- Secant Group, LLC:
Secant Group, LLC is engaged in engineering of biomaterials to facilitate the repair, recovery, and regeneration of the human body. In January 2018, Nanowear and the Secant Group announced that they have entered in worldwide supply-chain partnership agreement for scaled manufacturing and production of its medical-grade cloth-based nanosensor technology. Under the agreement, Nanowear and The Secant Group will have the collective obligation for marketing the technology and associated products.
- Confluent Medical Technologies:
Confluent Medical Technologies manufactures and distributes medical devices. The company offers balloon catheters, guidewires, biomedical textiles, access kits, and delivery systems.
In February 2018, the company completed the acquisition of Corpus Medical, which specializes in the design and development of technically complex catheter technologies, with particular expertise in the fields of electrophysiology, structural heart, neurovascular, cardiovascular, peripheral vascular and ENT.
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