The Global Textile Implants Market is expecting an outstanding boost from the booming healthcare sector and is ready to grow with a robust CAGR during the forecast period (2018-2023), asserts Market Research Future (MRFR) in a well-documented report.
Due to technological advents healthcare sector is enjoying a boom and textile implants are playing a considerable role in that. These implants have the upper hand over its metal counterparts in the industry as metal implants are prone to corrosion and can jeopardize the health of the patient.
Textile implants offer versatility and can be developed in 2D or 3D forms and any shape, a simple leverage that can bring in a sea-change during the treatment of a patient. Rising geriatric population is also a major factor as they are more prone to diseases that require implants. Sports-related injuries are also on the rise along with orthopedic surgeries which can further spur the demand for textile implants.
Prevalence of chronic diseases such as breast and prostate cancer and cardiovascular diseases can trigger the market growth. In addition, various technological advances in the textile implant sector are also proving worthy for the global market. Surgical procedures have also become minimally invasive which quickened the recovery process influencing patients further for opting for such surgeries.
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However, the manufacturing process requires a lot of expertise which can act as a market detractor. The price point is also a bit on a higher side. But its efficiency is playing in its favor, and it will soon take charge of the market in the near future with great enthusiasm.
Industry Trends:
German Institutes for Textile and Fibre Research Denkendorf (DITF) and the Spanish company NEOS Surgery S.L. have developed a textile implant to treat herniated discs and close the rupture in the intervertebral disc from within the disc.
W. L. Gore & Associates Inc. has recently launched GORE TAG which is a thoracic stent graft that gives doctors more control during deployment.
The key players of the textile implant market are SERAG-WIESSNER GmbH & Co. KG Zum Kugelfang, LARS (France), Johnson and Johnson, Neoligaments (UK), Surgicraft Inc., Cousin Biotech (France), Xenotech, Orthomed S.A.S. (France), WL Gore, FX Solutions (France), Aran Biomedical, Shanghai PINE&POWER Biotech (China), Mathys AG Bettlach (Switzerland), and other.
Segmentation:
The global textile implants market can be segmented by product type, application, and end-user.
By product type, the market can be segmented into 2D implantable forms, 3D implantable forms, natural textile implants and synthetic textile implants.
Application-wise the market includes hernia repair products, cardiovascular, sports medicine, diabetic wound care, ophthalmology, and breast reconstruction.
Based on end-users, the market comprises hospitals and clinics, ambulatory surgical centers, and others.
Textile Implants Market Regional Analysis:
Geographically the market includes the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas are expected to dominate the textile implant market during the forecast period due to the well-structured healthcare industry and eagerness to adopt the latest trend. The population here is also aware of the rapid advancements that the healthcare sector is experiencing which acts as a market stimulator. Also, the region has an excellent reimbursement policy which triggers the adoption of this technique. Cardiovascular disease is also on the rise in the region which can be countered by textile implants such as graft and stent. According to the American Heart Association 2017, in the U.S. 45.1% of the population died due to cardiovascular diseases which can act as a catalyst for the market.
Europe is accounted for the second largest market as people here are spending a considerable amount on their healthcare. The market here mostly covers accidental injuries. According to the Eurostat, in 2014, accidents caused almost 152,000 deaths in Europe which can be a driving factor for the textile implant market.
The APAC market is expecting a substantial growth fuelled by the prevalence of chronic diseases such as breast cancer. As per the reports of General Re Corporation, in 2016, around 404,000 cases of breast cancer were registered in Asia. Rising geriatric population is also a market booster, and people here prefer minimally invasive surgeries which can act in favor of the textile implant market.
The MEA can show a slow growth as the market is riddled with technical complexity, high operational cost, low per capita income, and stringent policies imposed by the governments.
Market Dashboard:
The market is experiencing a lot of mergers and acquisitions as the key players are trying to stay abreast. For instance, Confluent Medical Technologies has recently acquired EME Medical’s textile and polymer business.
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