Medical Textiles Market Key Players, Industry Share, Growth, And Forecast To 2028

The global Medical Textiles Market size is expected to reach USD 26.21 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.5% from 2021 to 2028. Atex Technologies, Inc., Life-Threads, Careismatic Brands, Bally Ribbon Mills, Freudenberg & Co. KG are some of the key players in this industry. The emergence of new areas of applications of medical textiles, along with the development of new fibers and manufacturing technologies for yarn and fabrics, is expected to bolster the market growth over the forecast period.

Medical textile manufacturers are significantly investing in the research and development of new cost-effective methods to protect both the patients and hospital staff from viruses, bacteria, and body fluid invasions in operating room environments. This, in turn, is expected to positively influence the market growth over the forecast period.

The COVID-19 outbreak in 2020 has exponentially increased the demand for medical textiles, especially nonwoven fabrics, which are used for the production of face masks, gowns, and other PPE products. Moreover, nonwoven fabrics witness higher growth owing to their vapor transmission capacity, higher bacterial resistance, and higher strength compared to other fabrics.

Related Press Release@ Medical Textiles Market Report

Medical Textiles Market Report Highlights

• Based on product, the non-woven segment accounted for the largest revenue share of over 65.0% in 2020. The segment is also expected to witness the fastest growth over the forecast period due to the low production cost and enhanced penetration in the healthcare and hygiene products
• By application, the healthcare and hygiene products segment dominated the market in 2020 with a revenue share of over 45.0% owing to a strong rise in the demand for personal protective equipment, such as face masks, surgical gowns, and protective suits, amid the COVID-19 outbreak
• The non-implantable goods application segment is expected to expand at a revenue-based CAGR of 4.4% from 2021 to 2028 owing to the growing emphasis by governments and health organizations across several countries on the adoption of first-aid facilities at various institutions
• Asia Pacific dominated the market in terms of revenue in 2020 owing to the exponential demand for raw materials from the personal protective equipment industry amid the COVID-19 pandemic
• Industry participants are expanding their production capacities, especially for non-woven medical textiles, to cater to a sudden spike in raw materials demand for personal protective equipment manufacturing amid the COVID-19 pandemic