DUBLIN--(BUSINESS WIRE )--The "Healthcare Fabrics - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Healthcare Fabrics Market to Reach $16.1 Billion by 2026
Amid the COVID-19 crisis, the global market for Healthcare Fabrics estimated at US$12.3 Billion in the year 2022, is projected to reach a revised size of US$16.1 Billion by 2026, growing at a CAGR of 6.6% over the analysis period.
Polypropylene, one of the segments analyzed in the report, is projected to record a 6% CAGR and reach US$5.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cotton segment is readjusted to a revised 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.4 Billion in 2022, While China is Forecast to Reach $1.6 Billion by 2026
The Healthcare Fabrics market in the U.S. is estimated at US$3.4 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2026 trailing a CAGR of 9.7% over the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.2% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
The market is driven primarily by the rising consumer awareness regarding the use of personal hygiene products, such as sanitary napkins, baby diapers, and adult diapers, as well as continuous technological advancements aimed at improving the quality and performance parameters of healthcare fabrics.
Growing incidences of airborne and blood-borne diseases is another major factor that is expected to propel the demand for healthcare fabrics in the next few years. In addition, the rising prevalence of hospital-associated infections, coupled with an increased focus of healthcare facilities to prevent and control infection, is likely to drive the market growth. Further, a robust demand for nonwoven fabrics in the medical industry is anticipated to boost growth in the market.
Moreover, rapid population growth, particularly in the emerging global markets, changes in living standards and lifestyles, increase in geriatric and diabetic population globally, and stringent regulatory framework governing the use of medical textiles are some other key factors that are likely to drive the global healthcare fabrics market.
In recent years, smart medical textiles are gaining prevalence in the healthcare industry for monitoring the health and tracking the chronic conditions of patients. These textiles contain traditional fabric that is integrated with conductive fibers and electronic components, including wearable antennas, microcontrollers, biomedical sensors, and fiber optics.
In the past few years, several leading manufacturers of healthcare fabrics are increasingly focusing on developing advanced smart textiles, which is likely to offer tremendous opportunities for market growth over the next few years.
Hospitals are the largest end-use segment for healthcare fabrics, owing to the rising incidences of infection transmission in healthcare facilities. Healthcare fabrics are widely used in hospital environments for mitigating the risk of transmission. The rising hospital admission rates are likely to create a significant demand for healthcare fabrics over the next few years.
However, lack of consumer awareness regarding personal hygiene in developing economies and the availability of substitute products are some of the major factors that are anticipated to inhibit the market growth in the near future.
In addition, the high investment involved in setting up a healthcare fabric manufacturing plant is expected to restrict new entrants from foraying into the market. Moreover, the dominance of key regional markets, such as North America, Asia-Pacific, and Europe, would restrain companies from expanding globally.
Polyester Segment to Reach $3 Billion by 2026
In the global Polyester segment, USA, Canada, Japan, China and Europe will drive the 7.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion will reach a projected size of US$2.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$321.4 Million by the year 2026, while Latin America will expand at a 8.5% CAGR through the analysis period.
2. FOCUS ON SELECT PLAYERS Select Competitors (Total 68 Featured):
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900