Medical Composites Market: Global Industry Analysis and Forecast (2021-2027): By Fiber Type, Application and Region

Medical Composites Market is anticipated to reach US$ 1624.6 Mn. by 2027 from US$ 922 Mn. in 2020 at a CAGR of 9.9 % during a forecast period. Medical composite materials are manufactured to provide a stronger material with a lighter weight, and they are widely employed in medical equipment such as prostheses and implants, fueling the growth of the worldwide medical composites market. Medical Composites Market To know about the Research Methodology:- Request Free Sample Report In the report, 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Medical Composites Market Dynamics:

Carbon fiber medical composites are used in surgical applications because of their chemical inertness and low weight. Furthermore, carbon fiber-based medical composites are employed in medical applications as a conjugation material as an alternative to metallic or polymeric materials. Medical cartilage is another item that is often used in the medical industry. Carbon fiber medical composites help in the biological resurfacing of damaged areas, making them suitable for use in medical cartilages. Carbon fiber medical composites' open weave structure promotes cell development between individual fiber materials, resulting in appropriate repair. Carbon fiber medical composites also offer enhanced load-bearing characteristics, making them suitable for use in prosthetic limbs. All of these factors work together to raise demand for medical composites, hence promoting the global market growth. Advanced technology and the increasing use of composite materials in various medical applications such as implants, diagnostics, medical equipment, and accessories are some of the factors driving the worldwide medical composite market. Among the characteristics are radiolucency, heat resistance, and low-level radiant energy absorption. These qualities decrease signal attenuation, allowing for the capturing of sharp images for use in medical diagnostics. Composites are highly compatible with X-ray, CT, and MRI scans, allowing for better post-operative monitoring of the fractured section. All of the aforementioned factors are expected to enhance the worldwide market. The FDA's regulatory restrictions, as well as those of other regional governments, hinder the market growth. Medical composite items are created using time-consuming processes and costly clinical tests. Because of their crucial nature, several medical types of equipment are subject to severe regulations.

Medical Composites Market Segmentation Analysis

By Fiber Type, Carbon fiber composites are extremely strong while still being quite light. Various prosthetics producers such as alchemical composites, regal prostheses, and others have seen a considerable increase in demand for these medical composites over the last half-decade. In the realm of a prosthesis, carbon fiber is being used as a trustworthy material. Over the medium-term forecast period, rapid integration of carbon fiber is envisaged, along with a decrease in the price of carbon fiber. This segment is expected to grow at a CAGR of 8.4% during the forecast period. Glass fiber medical composites are created by weaving together a large number of extremely fine glass threads. These composites are not as strong as carbon fiber composites, and as a result, their use in the medical field is limited. Because biomedical applications account for the majority of demand for medical composites, demand for glass fiber composites is expected to grow at a slower rate of 6.6 percent until 2027. By Application, Composites are becoming more used in dentistry for tooth replacement, fillings, and restorations. A polymeric acrylic or methacrylic matrix is reinforced with ceramic particles/fibers in composites used in dental applications. In tiny to mid-size fillings, composite resins combined with tooth-colored fillings give high durability and fracture resistance. The use of composites allows tooth fillings to resist mild pressure from chewing stress. Composite fillings have mostly replaced amalgam fillings because they are more durable, wear-resistant, offer better aesthetics, are easier to work with, and make dental restorations unnoticeable. Composite-based dental restorations are biocompatible, low-maintenance, and aesthetically pleasing. Medical Composites Market 1

Medical Composites Market Regional Insight

More than a quarter of all medical composite sales are made in North America in 2020. This is because the region has a larger need for prostheses, composite implants, and a variety of other medical equipment that all include some kind of medical composite. By 2027, the regional market is expected to grow at a rate of 2.1%. Medical composites' increasing use in biomedical applications will also help the market growth in the future. The United States controls more than 90% of the North American medical composites market. During the forecast period, the country is expected to grow at an annual rate of 8.3%. The increase in demand for medical composite components, which are utilized in a variety of medical equipment such as diagnostic imaging, operating tables, and other medical devices, leads to high CAGR. Composites for prosthesis applications are in high demand due to the growing need for lightweight and sturdy prostheses. Over the last half-decade, the prosthetics industry has grown in terms of both valuation and technological advancement. Glass fiber medical composites are created by weaving together a large number of extremely fine glass threads. These composites are not as strong as carbon fiber composites, and as a result, their use in the medical field is limited. Because biomedical applications account for the majority of demand for medical composites, demand for glass fiber composites is expected to grow at a slower rate of 6.6 percent until 2027. The medical composites market in Germany is expected to grow at an annual rate of 8.4% during the forecast period. Germany has long been a technological leader in the distribution of numerous medical devices. Over the last half-decade, the government has focused on producing medical composites as equipment rather than as a complete product. The government's policies have also helped to boost demand for medicinal composites. As a result, Germany is expected to hold a more than 15% share of the European market in 2022, attracting the attention of market participants.

Report Objectives:

• Landscape analysis of the Medical Composites Market • competitive benchmarking • Past and current status of the industry with the forecasted market size and trends • Evaluation of potential key players that include market leaders, followers, and new entrants • Technology trends • Potential impact of micro-economic factors of the market • External and Internal factors affecting market have been analysed The report also helps in understanding the Medical Composites Market dynamics, structure by analysing the market segments and project the Medical Composites Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Medical Composites Market make the report investor’s guide.

Medical Composites Market Scope: Inquire before buying

Medical Composites Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 922  Mn
Forecast Period 2021 to 2027 CAGR: 9.9  % Market Size in 2027: US $ 1624.6  Mn.
Segments Covered: by Fiber Type • Carbon Fiber • Ceramic Fiber • Others
by Application • Diagnostic Imaging • Composite Body Implants • Surgical Instruments • Dental • Others

Medical Composites Market, by Region

• North America • Asia pacific • Europe • Middle East and Africa • South America

Medical Composites Market Key Players

• Quatro Composite LCC • 3M • Mitsubishi Rayon Co. Ltd. • PolyOne Corporation • Royal Tencate N.V. • DSM • Composiflex Inc. • Toray Industries Inc. • Polygon Company ACP Composites, Inc. • Icotec AG • Vermont Composites, Inc. • CeramTec GmbH • Dentsply Sirona • Royal DSM N.V. • SGL Carbon

Frequently Asked Questions

1. What is the projected market size & growth rate of Medical Composites Market? Ans- Medical Composites Market was valued at USD 922 million in 2020 and is projected to reach USD 1624.6 million by 2027, growing at a CAGR of 9.9 % during the forecast period. m 2. What are the key driving factor for the growth of Medical Composites Market? Ans- Carbon fiber medical composites also offer enhanced load-bearing characteristics, making them suitable for use in prosthetic limbs. 3. Which Region accounted for the largest Medical Composites Market share? Ans- More than a quarter of all medical composite sales are made in North America in 2020. 4. What makes North America a Lucrative Market for Medical Composites Market? Ans- This is because the region has a larger need for prostheses, composite implants, and a variety of other medical equipment that all include some kind of medical composite. 5. What are the top players operating in Medical Composites Market? Ans- Quatro Composite LCC, 3M, Mitsubishi Rayon Co. Ltd., PolyOne Corporation, Royal Tencate N.V., and DSM.
1. Global Medical Composites Market: Research Methodology 2. Global Medical Composites Market : Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Medical Composites Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Medical Composites Market : Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Medical Composites Market Segmentation 4.1 Global Medical Composites Market, By Fiber Type (2020-2027) • Carbon Fiber • Ceramic Fiber • Others 4.2 Global Medical Composites Market, By Application (2020-2027) • Diagnostic Imaging • Composite Body Implants • Surgical Instruments • Dental • Others 5. North America Medical Composites Market (2020-2027) 5.1 North American Medical Composites Market, By Fiber Type (2020-2027) • Carbon Fiber • Ceramic Fiber • Others 5.2 North America Medical Composites Market, By Application (2020-2027) • Diagnostic Imaging • Composite Body Implants • Surgical Instruments • Dental • Others 5.3 North America Medical Composites Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Medical Composites Market (2020-2027) 6.1. Asia Pacific Medical Composites Market, By Fiber Type (2020-2027) 6.2. Asia Pacific Medical Composites Market, By Application (2020-2027) 6.2. Asia Pacific Medical Composites Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Medical Composites Market (2020-2027) 7.1. Middle East and Africa Medical Composites Market, By Fiber Type (2020-2027) 7.2. Middle East and Africa Medical Composites Market, By Application (2020-2027) 7.3. Middle East and Africa Medical Composites Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Medical Composites Market (2020-2027) 8.1. Latin America Medical Composites Market, By Fiber Type (2020-2027) 8.2. Latin America Medical Composites Market, By Application (2020-2027) 8.3 Latin America Medical Composites Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Medical Composites Market (2020-2027) 9.1. European Medical Composites Market, By Fiber Type (2020-2027) 9.2. European Medical Composites Market, By Application (2020-2027) 9.3 European Medical Composites Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Quatro Composite LCC 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Quatro Composite LCC 10.3. 3M 10.4. Mitsubishi Rayon Co. Ltd. 10.5. PolyOne Corporation 10.6. Royal Tencate N.V. 10.7. DSM 10.8. Composiflex Inc. 10.9. Toray Industries Inc. 10.10. Polygon Company ACP Composites, Inc. 10.11. Icotec AG 10.12. Vermont Composites, Inc. 10.13. CeramTec GmbH 10.14. Dentsply Sirona 10.15. Royal DSM N.V. 10.16. SGL Carbon

About This Report

Report ID 93503
Category Material & Chemical
Published Date April 2021
Updated Date Dec 2021
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