January 27 2011
Medical nonwoven disposables market to exceed $19bn by 2015
The global medical nonwoven disposables market is to exceed $19bn by 2015, according to a new report, spurred by factors including robust growth in developing countries, rapid technological advancements in nonwovens manufacturing, and growing awareness about health and hygiene issues.
The report said that the US and Europe continue to dominate the nonwoven disposables sector, together holding a major share of the global market, with further growth likely to stem from rise in population, higher proportion of aging population and product innovations.
Unsurprisingly, Asia-Pacific is said to offer massive potential in the long-term, driven by some of the fastest-growing global economies such as China and India. A large consumer base in these countries, coupled with improving healthcare systems and safety awareness, is said to bode well for the medical nonwovens disposables market. Similarly, the growing affluence in the Middle East is likely to provide a boost to the consumption of disposable products, said Global Industry Analysts, which compiled the report.
Incontinence products were found to represent the largest product segment, due to an aging baby boomer population and the increase in life expectancy rate, while the surgical nonwoven products sector is projected to record the fastest compound annual growth rate (CAGR) of 5%. The report also said prospects for medical disposables are good in the rapidly-industrialising nations of South Korea, Taiwan and Thailand.