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| Global Healthcare Fabrics Market Growth |
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 medical-grade fabrics used for various healthcare applications
such as surgical drapes and gowns, hygiene products, blankets, and privacy
curtains among others. These fabrics provide various advantages such as
liquid-repellency, moisture-wicking, anti-microbial properties, and
breathability which make them ideal for healthcare applications. The growing
population and increasing healthcare expenditure has propelled the demand for
various medical products made from healthcare fabrics.
Market key trends:
One of the key trends in the Global
Healthcare Fabrics Market Growth is the rise in demand for
flame-retardant and anti-microbial fabrics. With growing concerns regarding
hospital acquired infections, there is an increased emphasis on using fabrics
which inhibit microbial growth. Fabrics coated with silver nanoparticles are gaining
popularity due to their ability to prevent bacterial colonization.
Additionally, stringent fire safety regulations in healthcare facilities have
propelled the demand for flame-retardant fabrics. The rising demand for
single-use disposable medical products during the COVID-19 pandemic has also
contributed to the growth of the healthcare fabrics market. Technological
advancements enabling fabrics to provide multiple advantages such as enhanced
breathability, liquid resistance and comfort are expected to present lucrative
opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: Low new entrants as the healthcare fabrics market
requires high capital investments and established distribution channels.
Bargaining power of buyers: Moderate as buyers have some influence over pricing
due to the presence of numerous fabric manufacturers. However, strict
regulatory standards limit options.
Bargaining power of suppliers: Moderate as there are many raw material
suppliers like cotton, polyester, and nylon suppliers. Switching costs are low.
Threat of new substitutes: Low threat as healthcare fabrics have some unique
properties like high strength, water resistance that are difficult to
substitute.
Competitive rivalry: Intense as the market has many global players competing on
pricing and product innovation.
Key Takeaways
The global healthcare fabrics market is expected to witness high growth,
exhibiting CAGR of 9.8% over the
forecast period, due to increasing demand for antimicrobial fabrics in
hospitals and medical infrastructures.
On a regional scale, North America dominates the global healthcare fabrics
market and is expected to continue its dominance over the forecast period. This
is attributed to increasing healthcare expenditure, technological advancements,
and new product launches in the region. Asia Pacific is expected to grow at the
fastest pace during the forecast period due to rising medical tourism,
increasing incidence of hospital-acquired infections, and growing demand from
countries like China and India.
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 players are
focusing on new product launches, partnerships, and capacity expansions to
strengthen their presence in the market. For instance, in 2021, Knoll Inc.
launched new healthcare textiles collection with built-in antimicrobial
properties.
Read More: https://www.pressreleasebulletin.com/healthcare-fabrics-market-analysis/