According to a new report by Expert Market Research, ‘Global Medical Textiles Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, the global medical textiles market was valued at USD 16,686.6 million in 2019 and is projected to grow at a CAGR of 4.9% by 2025 owing to the rising geriatric population, ongoing technological advancements and stringent legislative framework mandating the use of medical textiles are expected to drive market over the forecast period.
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Competitive Landscape & Supplier Analysis:
- ATEX Technologies, Inc.
- Asahi Kasei Corporation (OTCMKTS: AHKSY)
- Bally Ribbon Mills
- Freudenberg Group
- Ahlstrom-Munksjö Oyj (HEL: AM1)
- Life Threads LLC (HEL: AM1)
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The medical textile testing deals with the performance evaluation of the apparel, clothing, and fabrics used in hospitals. The global medical textile testing market is estimated to grow at a high CAGR during the forecast period. Rising demand for medical textile products coupled with rising importance of safety and hygiene in medical textile industry have spurred the medical textile testing market across the globe. Technological developments, stringent quality and safety regulations in the medical textile industry, and rising healthcare expenditure are some of the other key factors that are further driving the growth of market. However, lack of awareness/ignorance about importance of safety and hygiene of medical textiles in developing and under developed countries and high cost involved in the performance testing of medical products pose as barriers to the market growth.
Rising awareness regarding new technologies for wound care, growing diabetic and aging population and support from government in the form of funding non-implantable goods are widely being used worldwide, which is anticipated to propel the growth of the global market of medical textiles.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/medical-textiles-market
Medical textile testing market include large number of players that are engaged in the development and manufacturing of medical textile testing products. Over the past three years, these companies adopted new product development and launches, collaborations, agreements, partnerships, and geographical expansions as their key business strategies to ensure their growth in the global medical textile testing market.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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