A report by Transparency Market Research studies the global market for medical nonwoven disposable and estimates that it would rise at a lackluster 4.0% CAGR during the period from 2016 to 2024. It projects the market, which was valued at US$12.9 bn in 2015, to attain a value of US$18.4 bn by the end of 2024.
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Apart from that, growing number of government initiatives and schemes that are meant to thwart various types of infections and simultaneously improve the manufacturing capabilities, is also providing a tailwind to the global market for non-woven disposables. “The market is being stoked by the rise in awareness on nosocomial infections too,” explains the lead analyst of the TMR report.
Mainly serving to catalyze growth in the global market for medical nonwoven disposable are the growing pool of elderly who are highly susceptible to various infections and illnesses. The market is also expected to benefit from the rising occurrence of epidemics such as H1N1 virus, Ebola, Chikungunya, and SARS. These epidemics are at the forefront of driving demand for medical nonwoven disposables, which prevent the infection from spreading by offering a protective covering for doctors and nurses trying to treat patients.
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Another major growth driver in the global market for non-woven disposables is soaring demand for superior technology in manufacturing better quality products. For example, patients and doctors are increasingly going for products with anti-microbial properties and high absorbency in order to drastically reduce the chances of cross-contamination.
Some of the key products available in the market are wound dressings, surgical products, and incontinence products. Of them, surgical products lead the market with maximum share. In surgical products again, the segment of drapes are most widely used. Surgical caps, gowns, and masks are also predicted to see swift uptake in the years ahead. Overall, the surgical segment is expected to account for a share of 52.0% by 2024-end.
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Geographically, Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa are the key regions studied in the report. North America currently holds a leading position in the market on the back of favorable reimbursement policies that encourage more people to opt for quality healthcare. Other than that a superior healthcare infrastructure coupled with continued innovations by savvy players domiciled in the region is also serving to stoke the market in the region.
The global medical nonwoven disposable market is fragmented in nature. The top three players in the market, namely Kimberly-Clark Corporation, Paul Hartmann AG, and Svenska Cellulosa, together held just 39.3% share in it in 2015. In order to stay ahead of competition in such a fragmented market, keen companies are resorting to diversification of their product portfolio and tapping into high growth regions through strategic mergers and acquisitions.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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