New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Biomedical Textiles Global Market Report 2023" - https://www.reportlinker.com/p06451235/?utm_source=GNW
, 3M, ATEX Technologies, Integra Life Sciences Corporation, Paul Hartmann AG, BSN Medical, Elkem ASA, and Bally Ribbon Mills.
The global biomedical textiles market is expected to grow from $14.66 billion in 2022 to $15.83 billion in 2023 at a compound annual growth rate (CAGR) of 7.96%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The biomedical textiles market is expected to reach $20.27 billion in 2027 at a CAGR of 6.38%.
The biomedical textiles market consists of sales of textiles for sutures & ligatures, vascular implants, soft tissue implants, hard tissue implants and hernia repair.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Biomedical textiles are fibrous textile constructions made from synthetic or natural materials.These advanced materials resist various fungi, fire, bacteria, dirt, and water.
Biomedical textiles are used as a medical device inside or outside the biological environment to improve the patient’s health.
North America was the largest region in the biomedical textiles market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the biomedical textiles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types in biomedical textiles are non-implantable and implantable.The non-implantable biomedical textiles are used for external wound dressings.
Non-implantable biomedical textiles are substances applied externally to the body that may or may not come into contact with the skin.These are made using various fabrics such as non-woven biomedical textiles, woven biomedical textiles, and knitted biomedical textiles and fiber type includes non-biodegradable and biodegradable.
The main applications include ophthalmology, neurology, cardiology, dentistry, orthopedics, general surgery and treatment, and other applications that are used by hospitals, ambulatory centers, clinics, community healthcare, and other end users.
The rising prevalence of chronic diseases is propeling the the biomedical textiles market going forward.Chronic diseases require medical attention and last for more than a year.
This rise in chronic diseases led to a focus on surgical procedures.Biomedical textiles are used in chronic diseases for wound closure during surgeries and to prevent chronic wounds.
For instance, according to The Silver Book created by a US-based non-profit organization, The Alliance for Aging Research, there will be an increase of 42% in chronic disease cases with 230.7 million people globally by 2030. Therefore, the rising prevalence of chronic diseases will drive 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.
In April 2022, Integer, a US-based medical device outsourcing manufacturer, acquired Aran Biomedical for $131 million.Through this acquisition, Integer will serve its customers better if it combined these technological developments and knowledge with its industry-leading production scale and delivery methods.
Aran Biomedical is an Ireland-based manufacturer of biomaterial-focused medical implant products, including biomedical textiles.
The countries covered in the biomedical textiles market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The biomedical textiles market research report is one of a series of new reports that provides biomedical textiles market statistics, including biomedical textiles industry global market size, regional shares, competitors with a biomedical textiles market share, detailed biomedical textiles market segments, market trends and opportunities, and any further data you may need to thrive in the biomedical textiles industry. This biomedical textiles market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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