Market Trends of Breathable Films and Membranes Industry
This section covers the major market trends shaping the Breathable Films & Membranes Market according to our research experts:
Medical Segment Expected to Dominate the Market
- Breathable films and membranes are used in the surgeon's garments, to provide protection against viral and bloodborne pathogens. It is also used in skin adhesion applications. It serves as a barrier membrane to dust or biohazards, such as blood-borne pathogens, and allows perspiration to escape.
- Owing to the growing health concern among people, coupled with the increasing number of hospitals, there is a significant increase in the usage of breathable films and membranes in the healthcare sector.
- North America has the largest medical industry in the world. Wide insurance coverage in the country is expected to aid the growth of the market. More than 90% of the US population has access to health insurance. The majority of citizens aged above 65 years have coverage through Medicare or Medicaid, private individual healthcare package, or both.
- The Asia-Pacific healthcare market is poised to record double-digit growth during the forecast period, driven by the growing demand from continuous developments in healthcare infrastructure and the availability of affordable health insurance in the region. New developments have also been experienced in the healthcare technology market. The Southeast Asian healthcare market offers a significant scope for growth, as it still remains under-penetrated to some extent.
- The aforementioned factors are expected to increase the demand for breathable films and membranes, during the forecast period.
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Asia-Pacific to Dominate the Market
- The Asia Pacific is the largest market for breathable films & membranes products. This is in response to increasing demand for premium hygiene products in developing countries, like India and China.
- In India, factors, such as improvement of the literacy rates, enhancing consumer's safety, along with sanitary consciousness, plus improving rural area conditions have created opportunities for expansion of hygiene products. In addition, the government is striving hard to improve living standards in rural areas
- In China, China's construction industry developed rapidly, due to the central government's push for infrastructure investment, as a means to sustain economic growth.
- The government started 13th Five Year Pla as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition, the country ventured into new business models, domestically and internationally, during the year.
- Despite the volatile growth in real estate sector, the significant development of infrastructure by the Chinese government, to withstand the growing industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in recent years. As the construction industry is dominated by state-owned enterprises, the increased government spending is boosting the industry in the country.
- Hence, with the growth in various industries in the region, the demand for market is expected to increase in the upcoming years.
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