"Grand View Research, Inc. – Market Research And Consulting."According to a new report published by Grand View Research, Rising awareness for better healthcare practices, ongoing technological advancements, regulatory framework mandating the usage of medical textiles, and rising geriatric population are expected to be the major growth drivers.
The global medical textiles market is anticipated to reach USD 23.3 billion by 2025, according to a new report conducted by Grand View Research, Inc. Rising awareness for better healthcare practices, ongoing technological advancements, regulatory framework mandating the usage of medical textiles, and rising geriatric population are expected to be the major growth drivers responsible for the growth of global market over the forecast period.
Globally, the economies are supporting and providing numerous programs in order to encourage the production and consumption of medical textiles. Growing population rise in the number of elderly population, and the construction of new medical facilities resulting in reduced healthcare costs, and enhanced effectiveness are fueling the growth of global market.
On the basis of fabrics, medical textiles market is segmented into woven, knitted, non-woven, and others. Nonwoven fabrics are cost-effective and known for offering easy disposability when there is a high risk of contagious diseases, which positions it as a dominating segment in the global market. Woven fabrics are usually dimensionally very stable but less extensible and porous than other structures. Knitted fabrics are highly extensible as compared to woven fabrics. With latest innovations in the textile technology, a wide variety of non-woven, knitted, and woven forms of the textile are gradually finding their way into a variety of surgical procedures.
Based on application, market is segmented as implantable goods, non-implantable goods, healthcare & hygiene products, and others. Non-implantable goods segment is the largest and fastest growing application of medical textiles. Worldwide the incidence of injuries is burgeoning fueling the demand for medical textiles in non-implantable goods segment.
Market players are developing advanced corporate strategies while using creative marketing campaigns to fascinate younger adults who will further support the growth of the non-implantable goods in the years to come. The companies offering non-implantable goods are reaping benefits from nationwide distribution with the products not just being limited to pharmacies or chemists, but also being retailed in small independent retailers in suburban neighborhoods.
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Medical Textiles Market Report Highlights
• U.S. medical textiles industry revenue is projected to grow at a rate of 5.3% over the forecast period. The rising concern regarding chronic diseases and aging population has led to increased demand for non-implantable goods in the country, which is driving the market.
• Germany medical textiles market was valued for USD 1,852.1 million in 2018 and is projected to grow significantly over the forecast period. Germany is a major country in foreign trade of medical textiles. The country stands among top five largest exporter of textiles and clothing globally, recording an export quota of approximately 40% in 2018.
• China market is anticipated to reach USD 1,547.4 million by 2025. Rising urbanization, favorable demographic trends, increasing burden of diseases, expanding population with rise in income levels promoting greater awareness of and access to treatments are expected to boost the demand for medical textiles in China.
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Medical Textiles Market Segmentation
Grand View Research has segmented the global medical textiles market on the basis of fabric, application, and region:
Fabric Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 - 2025)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 - 2025)
• Implantable goods
• Non-implantable goods
• Healthcare & hygiene products
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2015 - 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• Central and South America
• Middle East & Africa
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About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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