Global Medical Composites Market Research Report and Forecast to 2030 is an in-depth study of the global Medical Composites Market, including market size, market share, current and emerging trends, and the most recent technological developments. The report also provides insight into the global and regional competitive landscape of the Medical Composites Market, as well as a detailed forecast to 2030. The impact of the COVID-19 pandemic on the Medical Composites Market has been updated in the new report. It examines the pandemic's impact on the economic landscape and government regulations in each region. It also investigates the supply chain disruptions and economic volatility caused by the pandemic and provides a current and prospective outlook.
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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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
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.
Target Audience of the Global Medical Composites Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- 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)
Market Segmentations of the Medical Composites Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Medical Composites market on the basis of product, application, and region:
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
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Some Key Highlights in 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.
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