PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1521102
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1521102
The global biomedical textiles market will grow at a compound annual growth rate (CAGR) of 6.5% during the forecast period of 2024 to 2029.
The global biomedical textiles market is driven by several core factors, including increasing cardiovascular diseases, orthopedics, spinal, and other disorders. According to the United Nations, the global population aged 65 and above is expected to rise from 10% in 2022 to 16% in 2050. The older population will surpass the number of children under age 5 by 2050. This is creating serious health-related issues for a large section of the population related to orthopedics, cardiovascular, etc., and causing the need for innovative health products like biomedical textiles. The biomedical textiles market sector is highly research-based and provides opportunities for academic research laboratories and health startups to collaborate and develop new products.
Cardiovascular diseases are rising worldwide owing to the changing lifestyles. Behavioral risk factors such as tobacco use, unhealthy diet, sedentary lifestyle, physical inactivity, and overuse of alcohol are giving thrust to the risk factors. This causes raised blood pressure, blood glucose, blood lipids, and overweight. The risk of cardiovascular diseases has been increasing due to these factors. In the United States, cardiovascular diseases are the leading cause of death for men, women, and people of most racial and ethnic groups. According to the Centers for Disease Control, one person dies every 33 seconds from cardiovascular disease.
These figures indicate the increasing cases of heart diagnoses. People are becoming concerned about their heart health and overall lifestyle challenges. The growing number of heart diseases is causing an increasing number of heart surgeries. Innovative solutions have been applied to the limitless performance possibilities.
Earlier, biomedical textiles were limited to vascular grafts and heart valve sewing cuffs for traditional aortic valve repair. But now, heart valve fabric solutions are used in multiple applications. The complex application of biomedical textiles can be used for the healing and regeneration of damaged cardiovascular tissue. It can generate aortic arch reinforcement, stent graft covering, carotid artery repair fabric, and biocompatible heart valve fabric, among others.
Confluent medical technologies are developing and manufacturing implantable textiles for various applications, including cardiovascular. The company makes aortic and mitral transcatheter valve skirts, atrial appendage occlusion device coverts, or endovascular stent grafts. It also produces sutureless attachments of textiles to a device frame which eliminates the need for sewing and manual assemblies.
The advancement in orthobiologics provides synthetic biomaterials for the required mechanical and biological benefits. This can be applied for bone grafting and fusion, motion preservation in the spine, tissue fixation, cartilage, tendon, ligament, and meniscal repair. In the orthopedic, there has been a shift in the age demographics toward more younger patients.
These people are more physically active, causing soft-tissue injuries, including damage to the ligaments and tendons. All these injuries are associated with sports, gym, adventure like trekking, cycling, etc. Physical activity-related injuries are becoming very common among these populations, thus leading to surgeries. The trend is moving towards avoiding large-scale surgeries, earlier intervention, and less invasive devices.
Key benefits of textiles in orthopedics can be attributed to key features like less invasiveness, shape transformation, high tensile strength, stable structure, biocompatibility, flexibility, porosity, and features like entering through a small hole and then expanding in the body, among others. The geometry of several biomedical structures can be customized to affect porosity and tissue integration or act as a tissue barrier. These structures have applications due to their inherently compressible and shape-transformable properties. The application can be in sports med sutures and assemblies, joint and ligament fixation and reconstruction devices, and spinal fixation tethers.
BIOMEDICAL TEXTILES MARKET - GEOGRAPHICAL OUTLOOK
The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries. The Indian Healthcare industry continued to show robust growth and expansion, reaching a value of US$372 billion both in the private sector and the government.
This sector has been the largest employer in the country, with 7.5 million as of 2024. India's public expenditure on healthcare touched 2.1 % of GDP in FY23 and 2.2% in FY22, a rise from 1.6% in FY21. The country's medical tourism market is valued at US$7.69 billion in 2024. These increased numbers significantly indicate the growing application of medical devices and development of the innovative products.
Additionally, China is the world's second-largest healthcare market, making medical devices an important healthcare sales. According to the Official Website of the International Trade Administration, the medical device market in China is expected to expand at a Compound Annual Growth Rate (CAGR) of 8.3%, making it US$48.8 billion by 2026. The biomedical textiles being used in the multipurpose applications of cardiovascular, orthopedic, and tissue engineering would likely rise in demand.