Biomedical Textiles Market Industry Leaders & Key Revenue Pockets

Increase in the number of surgeries and aging population worldwide is projected to drive the growth of the biomedical textiles market.

Geriatric individuals are more prone to orthopedic, cardiovascular, spinal, and ophthalmic conditions due to age-related physiological changes. Since surgical interventions are considered to be an effective treatment option in the majority of these conditions, growth in the geriatric population has resulted in the higher demand for surgical procedures. This, in turn, is increasing the market for biomedical textiles. In addition, the increase in healthcare expenditure by governments is also contributing to the growth of the biomedical textiles market. The biomedical textiles market is projected to reach USD 14.50 billion by 2022, at a CAGR of 5.7% between 2017 and 2022.

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The biomedical textiles market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the increased healthcare awareness among the people, including the aging population.

Based on fiber type, the non-biodegradable fiber segment of the biomedical textiles market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increased demand for bandages and surgical sutures. The biodegradable fiber segment also has a good CAGR owing to the need for implantable and surgical sutures.

Based on fabric type, the non-woven fabric segment of the biomedical textiles market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increased use of biomedical textiles in different types of bandages.

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Based on application, the non-implantable segment of the biomedical textiles market is projected to grow at the highest CAGR between 2017 and 2022. The non-implantable materials are used for the prevention of infection and healing of wounds. The other applications segment has the second largest CAGR owing to the growth of implantable and extracorporeal applications.

The development of smart biomedical textiles coupled with the growing demand from emerging markets are the major growth opportunities for the market. The market players can achieve targets by developing their product depth in emerging economies, such as China, India, Brazil, and Mexico.