Wound/Medical Dressings Segment Is The Largest Segment Driving The...

Wound/Medical Dressings Segment Is The Largest Segment Driving The Growth Of Healthcare Fabrics Market

Posted 2023-12-06 12:09:18

The global Healthcare Fabrics Market is estimated to be valued at US$ 24.4 Bn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Healthcare fabrics are specially manufactured textiles designed for healthcare and medical use. Some key properties of healthcare fabrics include high absorbency, repellency, antimicrobial functionality and durability. These fabrics are mostly used in applications such as surgical drapes & gowns, wound/medical dressings, blankets/bedding and hygiene products.

Market key trends:
One of the major trends in the healthcare fabrics market is the increasing demand for non-woven fabrics. Non-woven fabrics have better fluid handling capabilities and are highly durable. They are mostly used in wound dressings and medical drapes & gowns. Properties such as high absorbency, minimal penetration of fluids and particles make them preferable for medical applications. In wound dressings, non-woven fabrics provide efficient fluid management and maintain a moist environment necessary for wound healing. They are also lightweight and cost-effective.
SWOT Analysis
Strength: Healthcare fabrics offer properties like liquid repellency, antimicrobial activity and easy maintenance which makes them suitable for various medical applications. They help prevent the spread of infections in healthcare facilities.
Weakness: Higher prices of advanced healthcare fabrics compared to regular materials can be a restraint for widespread adoption. Certain eco-unfriendly chemicals used during manufacturing are also a concern.
Opportunity: Growing aging population worldwide is driving the demand for modern healthcare services and related infrastructure development in many countries. This provides an opportunity to use more medical-grade textiles.
Threats: Strict quality standards and regulations for fabrics used in medical applications can obstruct entry of new players. Supply chain disruptions amidst global events like COVID-19 pandemic also pose threats.

Key Takeaways

The Global Healthcare Fabrics Market Growth is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing patient pool globally and rising expenditure on advanced healthcare systems across regions.

Regional analysis: North America dominated the global healthcare fabrics market in 2023 with over 35% share, led by presence of many key players and superior healthcare infrastructure in the US and Canada. Asia Pacific is anticipated to be the fastest growing region during the forecast period, due to improving access to healthcare, healthcare reforms and rising disposable income in developing countries like India and China.

Key players: Key players operating in the Healthcare Fabrics market are Knoll Inc., Freudenberg Group, Avgol Ltd., Carnegie Fabrics LLC, Eximius Incorporation, Berry Global Group Inc., Asahi Kasei Corporation, Ahlstrom Munksjo OYJ, Kimberly-Clark Corporation, and Paramount Tech Fab Industries, among others. These companies have adopted expansions, mergers & acquisitions and new product development as their key growth strategies to expand their geographic presence and product portfolio.