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The market for biomedical textile is expected to grow at a CAGR of about 6% globally during the forecast period.
- Rising number of surgeries and growing need for high quality wound dressing material is driving the market growth.
- High cost of vascular grafts and artificial skin and the complexity in integration of electronic circuits in textiles for data processing are expected to hinder the market growth.
Key Market Trends
Growing Demand from Implantable Segment
- Bio textiles have been increasingly used as a substitute to replace and aid damaged body parts by surgeons and physicians. Biomedical textile finds its application in artificial arteries, sutures, vascular grafts amongst others.
- Vascular grafts made of bio medical textiles are used as an artificial vein or artery that is implanted in heart to replace the original vein or artery that is blocked or weakened. Veins or arteries up to 6mm-1cm in diameter can be replaced by grafts.
- Biomedical textile is also used in various orthopedic operations such as sutures, joint and ligament fixation, reconstruction devices, and spinal fixation tethers amongst others.
- Rising number of surgical procedures, growing aging population, increasing prevalence of chronic diseases, technological advancements, and favorable healthcare policies in developed regions are driving the demand for implantable surgeries, which in turn is expected to drive the market for bio textile through the years to come.
North America Region to Dominate the Market
- North America is expected to dominate the global market owing to the highly developed healthcare sector in United States, coupled with the continuous investments done in the region to advance the medical technology sector through the years.
- Moreover, the growing obesity issues in the country and with most population getting affected with various diseases and increased the need for various medical attention in the country, is increasing the demand for biomedical textile in various applications.
- According to the U.S. Food and Drug Administration (FDA), on an annual scale more than 1 million hernia procedures are performed in the United States, owing to the growing issue of obesity among the general population in the country.
- According to The National Institutes of Health, somewhere between 10% and 15% of the US population suffers from gallstones in the bile duct. Furthermore, more than 5 million Americans are affected by valve-related heart diseases each year.
- Performing such surgeries require advanced medical devices and components including biomedical textile. Continuous growth in diseases among the American population is expected to drive the market for biomedical textile through the years to come.
The global biomedical textile market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Johnson & Johnson Services, Inc., Integra LifeSciences Corporation, B. Braun Melsungen AG, Medline Industries, Inc., and Bally Ribbon Mills among others.
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