Biomedical Textiles Market : Key Strategies Adopted by the Leading Players

Agreements/contracts, expansions, acquisitions, and new product developments are key strategies adopted by the leading players in the biomedical textiles market.

Biomedical textiles are a class of technical textiles that have fibrous structures and are designed for use in specific biological environments. The fibers used in biomedical textiles should possess antimicrobial, fire-resistant, non-allergic, and non-carcinogenic properties. Biomedical textiles are produced using technologies such as weaving, non-weaving, and knitting. The biomedical textiles market is projected to reach USD 14.50 billion by 2022, at a CAGR of 5.7% from 2017 to 2022.

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Key players operating in the biomedical textiles market are focused on the adoption of inorganic and organic growth strategies to strengthen their market positions. These companies have adopted agreements/contracts, expansions, acquisitions, and new product developments as key growth strategies between January 2015 and December 2017 to strengthen their foothold in the biomedical textiles market.

Royal DSM (Netherlands), one of the leading manufacturers of biomedical textiles, has adopted key growth strategies such as partnership and new product development to enhance its presence in the biomedical textiles market. In March 2017, the company launched a new Dyneema Purity Black fiber for orthopedic, cardio, and spine applications. In September 2017, DSM Biomedical, a division of Royal DSM, partnered with the Musculoskeletal Transplant Foundation (MTF) to distribute biologic products for use in plastic and reconstructive surgeries. The partnership will address the changing needs of hospitals and healthcare providers by offering a full suite of biologic products such as biomedical textiles. This will help enhance the market for biomedical textiles.

Major players operating in the Biomedical Textiles Market include Royal DSM (Netherlands), Johnson & Johnson (US), Medtronic (US), Cardinal Health (US), Integra Lifesciences Corporation (US), Smith & Nephew (UK), Medline (US), Paul Hartmann AG (Germany), and BSN Medical (Germany). These companies have a strong presence in the biomedical textiles market and are continuously making efforts to improve their business strategies and product portfolios.

In May 2017, Smith & Nephew opened a new state-of-the-art Research & Development (R&D) center at its Hessle Road site in Hull. This R&D center is expected to help enhance the technologies and products for biomedical textiles. The new R&D focuses on the production all medical products including biomedical textiles. The expansion strategy helped the company cater to the rising demand for biomedical textiles in the North American region.

Medline Industries, a key manufacturer and provider of biomedical textiles, has adopted the strategy of agreements/contracts to enhance its position in the biomedical textiles market. For instance, in 2016, Medline Industries and Premier Inc., a leading healthcare improvement company, signed a purchasing agreement for medical-surgical products, such as IV therapy, janitorial, and surgical sutures. Premier unites an alliance of 3,750 US hospitals and more than 130,000 other organizations. This purchasing agreement will help Medline Industries enhance the sales of its biomedical textile products.