Emergen Research's latest market research report, titled Global Medical Composites Market, provides estimated market size and shares, latest industry trends, global market growth rates, key drivers and opportunities, constraints, product segmentation, and major market players. Cost structure, market size, competitive landscape, product portfolio and specifications, and company profiles.
This report is a fair prototype of the Medical Composites-industry containing an in-depth study of the global Medical Composites market. This report serves as a valuable source of data and information related to this industry. It covers various industry aspects with a particular focus on market scope and application areas. The report identifies the fundamental business strategies adopted by industry experts and offers an insightful study on the value chains and distribution channels of the global market. The report authors have also analyzed current industry trends, growth potential, current overview, and market limitations.
The global medical composites market size is expected to reach USD 996.8 Million at a revenue CAGR of 9.9% in 2021, according to latest analysis by Emergen Research. Steady market revenue growth of medical composites can be attributed to increasing demand for composites in prosthetics. Fiber-reinforced polymer plastic (FRP) composites find widespread use in the medical industry owing to their lightweight, biocompatible, and high-stiffness properties. Medical composites are deployed to manufacture external human body components like prosthetic limbs due to their high fatigue resistance and offering of manufacturing flexibility benefits. Also, the demand for medical composites is increasing due to the chemically inert nature of products like carbon-fiber composites and non-requirement for removing a resorbable composite prosthesis through surgeries, as in the case of metals.
Increasing advancements in technology in the medical sector and growing investment in novel methods, including Rapid Manufacturing (RM) and Rapid Prototyping (RP) are significantly fueling market revenue growth. Fast production of functional parts used in prototype reconstruction substantially impacts innovation speed in the medical sector. Using rapid prototyping, prostheses component sample is created through Computer-Aided Design (CAD) and then these parts are produced using rapid manufacturing in a short interval without deploying any tools from an extensive range of materials, including composites. Growing use of such advanced technologies is expected to increase demand for medical composites.
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Some Key Highlights From the Report:
- The ceramic fiber composites segment accounted for a moderate revenue share in 2021. Carbon fiber composites are used as implant materials for bone and cartilage to facilitate the biological restoration of damaged tissues. This sort of substance encourages creation of new cells between individual fibers, hence facilitating proper repair. In addition, these materials are safer as implant materials due to their low tissue adherence and biological inertness. Compared to metals, carbon-fiber-reinforced PEEK implants have a lower elasticity modulus that is comparable to that of bone and superior fatigue strength.
- The diagnostic segment revenue is expected to register a fast revenue growth rate over the forecast period. Medical imaging enables physicians to comprehend the disorders within the human body and make better decisions. With the exception of contrast material, medical imaging procedures are completely painless, non-invasive, and do not require any additional preparation. In some instances, such as breast cancer, medical imaging can save lives with early detection and proper treatment.
- The hospital segment revenue is expected to register a steady revenue growth rate over the forecast period. Carbon fiber is now utilized in medical treatment. It improves the lives of a variety of patients by facilitating their recovery from injuries and return to normal life. The fact that carbon fiber is radiolucent, which is essential for medical imaging, is one of its many benefits. This suggests that the radiation can pass through a carbon-fiber bed to provide crisper images. Hospitals frequently employ carbon fibers for this purpose.
- The medical composites market in North America accounted for the largest revenue share in 2021, attributed to increased adoption of advanced technologies in the medical sector, increasing investments in research development, and high healthcare expenditure. Additionally, the presence of leading market players such as Dentsply Sirona is causative of market revenue growth in the region.
The primary aim of the report is to offer market overview, product scope, growth prospects, and risks. The report also offers in depth information about each player in the global Medical Composites market along with its global standing, financial status, product launch, business expansion plans among others. The market players are focused on developing various strategies such as partnerships, mergers and acquisitions, joint ventures, product launches, and research and development investments.
Dentsply Sirona, Toray Industries Inc., Royal DSM NV, IDI Composites International, The 3M Company, SGL Carbon, Vermont Composites Inc., CeramTec GmbH, Icotec AG, Kyocera Corporation, ACP Composites Inc, and CoorsTek Inc.
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Market Overview:
The report bifurcates the Medical Composites market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Million; 2019–2030)
- Carbon Fiber Composites
- Ceramic Fiber Composites
- Others
Application Outlook (Revenue, USD Million; 2019–2030)
- Diagnostics Imaging
- Surgical Instruments
- Body Implants
- Tissue engineering
- Dental
- Others
End-use Outlook (Revenue, USD Million; 2019–2030)
- Hospitals
- Clinics
- Research Institutes
- Others
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Research Report on the Medical Composites Market Addresses the Following Key Questions:
- Who are the dominant players of the Medical Composites market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Medical Composites market?
- What are the key growth drivers and restraining factors of the Medical Composites market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Medical Composites market and its key segments?
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