Rapid Growth in Medical Sector Drives Technical Textile Market Advancement

Technical Textile Market


Technical textiles are synthetic fabrics that have been designed to perform specialized industrial functions rather than merely being used as garments. They are widely employed in critical applications across diverse sectors like construction, automobiles, filtration and more importantly, medical. Medical-grade technical textiles exhibit properties like strength, elasticity, durability and are ideal as sutures, hygiene products and surgical dressings. They can withstand stringent sterilization methods and offer protection against infections. With rising healthcare expenditure and growing global geriatric population prone to injuries and chronic diseases, the demand for advanced medical devices and consumables that incorporate technical textiles is surging exponentially.


The global technical textile market is estimated to be valued at US$ 5270.95 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The use of medical-grade technical textiles has witnessed a monumental rise over the past few years on account of continuous innovations in healthcare infrastructure and patient care technologies. Advanced materials exhibit superior breathability, moisture management and strength as compared to conventional fabrics. They also help minimise medical costs by enabling faster recovery and reduced rates of readmission. 3D knitting and weaving capabilities have further expanded applications in prosthetics, implants and apparel for immobile patients. Growing focus on patient comfort and outcomes is a key factor driving R&D focusing on high-performance medical textiles.

Segment Analysis
Technical textiles market is segmented into healthcare textiles, Protective textiles, transportation textiles and others. Healthcare textiles dominates the market and accounts for the largest market share owing to increasing usage in healthcare applications such as surgical implants, wound care, hygiene, and others. Healthcare textiles are used for both patient and employee hygiene and safety purposes. They are also used in surgical implants such as meshes, grafts, sutures, and other implants. Growing healthcare industry and increasing healthcare expenditure is expected to drive the demand for healthcare textiles during the forecast period.

Key Takeaways
The global technical textile market is expected to witness high growth. Global Technical Textile Market Demand is estimated to be valued at US$ 5270.95 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.

Asia Pacific dominates the technical textile market and is expected to maintain its dominance during the forecast period. Growing healthcare, automotive, and construction industries are driving regional demand. Furthermore, the presence of large textile manufacturing hubs in countries like China, India are contributing to the growth of the technical textile market in Asia Pacific.

Key players operating in the technical textile market are Koninklijke Philips NV, Dymedix Diagnostics, Medtronic PLC, CooperSurgical Inc., Cognionics Inc., Ambu A/S, 3M Company, Nihon Kohden Corporation, CONMED Corporation, and Natus Medical Incorporated, among others. Koninklijke Philips NV and Medtronic PLC dominate the healthcare textiles segment owing to their strong product portfolio and global distribution network.


Comments

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Monochloroacetic Acid (MCAA) Market Is Estimated To Witness High Growth Owing To Increasing Demand for Surfactants and Herbicides