Biomedical Textiles Market Projected to Grow at a CAGR of 5% During the Forecast Period

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The global biomedical textiles market is projected to reach $17B by 2032, growing at a 5% CAGR, driven by rising surgeries, health awareness, and obesity rates.

By 2022–2032, the global biomedical textiles market is expected to reach a value of US$17 billion, with a compound annual growth rate (CAGR) of 5%. An increase in surgeries and a need for premium wound dressing material are anticipated to propel the market throughout the forecast period.

In the near future, the market is anticipated to be significantly impacted by rising health consciousness and the technological development of biomedical textiles.

Because of its significant players and advanced healthcare facilities, North America is anticipated to dominate the global market. It is anticipated that the prevalence of obesity will boost the market for biomedical textiles for a variety of uses.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:- https://www.factmr.com/connectus/sample?flag=S&rep_id=6441

Country-Wise Analysis

According to Fact.MR, North America is expected to account for approximately 30% of the global biomedical textiles market share, with the U.S. seeing significant growth during the forecast period. In 2020, the U.S. market was valued at around US$ 3.5 billion.

The region is set to lead the global market due to the presence of key industry players and highly advanced healthcare facilities. Increasing obesity rates are expected to further drive demand for biomedical textiles across various applications, boosting the market.

According to the National Institutes of Health, 10-15% of the U.S. population suffers from gallstones, and nearly 5 million Americans have valve-related heart diseases. The treatment of such conditions requires advanced medical devices like biomedical textiles. Additionally, the U.S.'s substantial healthcare investments are likely to create lucrative growth opportunities for the market in the near future.

Competitive Landscape

Leading players in the global biomedical textiles market are leveraging strategies such as partnerships, collaborations, and acquisitions to expand their global presence. Significant investments in research and development are also being made to drive product innovation. Recent developments include:

In January 2022, Confluent Medical Technologies, a prominent provider of biomedical textile services, announced a major investment from TPG Capital.
In January 2022, Johnson & Johnson Medical Devices Companies (JJMDC) partnered with Microsoft to enhance and expand JJMDC’s compliant digital surgery ecosystem.
In January 2022, Smith & Nephew acquired Engage Surgical and its cementless partial knee system.

Global Biomedical Textiles Market- In-Depth Assessment on Key Segments

By Fabric
- Non-woven Biomedical Textiles
- Woven Biomedical Textiles
- Knitted Biomedical Textiles
By Fiber
- Biodegradable Biomedical Textiles
- Non-biodegradable Biomedical Textiles
By Application
- Biomedical Textiles for Implantable Applications
- Biomedical Textiles for Non-implantable Applications
- Biomedical Textiles for Surgical Sutures Applications
By End Use
- Biomedical Textiles for Ophthalmology
- Biomedical Textiles for Neurology
- Biomedical Textiles for General Surgery
- Biomedical Textiles for Orthopedics