“Global Medical Composite Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global medical composite market report has been segmented on the basis of fiber type, application, and region.
Global Medical Composite Market: Introduction
Composites are also known as composite material or composition material. These composite materials are made of more than two materials that have different physical or chemical properties, which procedure new material that has diverse characteristics than combined materials. New material produced may have various features such as stronger material quality, less expensive or lighter, as compared to conventional materials. Composite materials have multiple applications in aerospace, construction, automotive, consumer goods, marine, medical, defense, oil & gas, renewable, and rail, industries. These materials are utilized for various purposes such as bridges and building construction, and for structures such as race car bodies, boat hulls, bathtubs, shower stalls, swimming pool panels, storage tanks, imitation granite, and cultured marble sinks. Composite materials are utilized in wide range of medical uses such as in implants, artificial limbs, surgeries, diagnostics, and instrument materials.
Global Medical Composite Market: Dynamics
Increasing adoption for medical composite in various end-use application industries including diagnostic imaging and surgical instruments is a factor expected to fuel the target market growth. In addition, rising demand for medical composite form dental, microsphere, and tissue engineering sectors is a key factor expected to propel growth of the global medical composite market in the years to come.
In addition, increasing demand for radiolucent and lightweight material is among factor expected to fuel growth of the market over the years to come. Rising demand for the medical composite products in developing and developed countries is additional factor expected to augment the target market growth.
However, stringent regulations by the food and drug administration and other regulatory bodies is a factor expected to hamper the target market growth.
Emergence of biodegradable composites used for medical implants is a key factor expected to offer lucrative revenue opportunity for the player operating in the target market.
Global Medical Composite Market: Segment Insights
Among the fiber type segments, the carbon fiber composites segment is expected to witness higher revenue share in the global medical composite market, owing to its wide usage in diagnostic imaging components, surgical instruments, and prosthetic & composites implants. These composites offer superior mechanical and physical properties such as radiolucency, strength, bio-compatibility, resistance to temperature, corrosion, and moisture, and lightweight. The carbon fiber composites segment revenue is expected to register fastest CAGR.
Among the application segments, the diagnostic imaging segment is expected to witness moderate revenue share in the global medical composite market. The diagnostic imaging segment revenue is projected to record highest CAGR.
Global Medical Composite Market: Region Insights
The Europe medical composite market is projected to record moderate revenue share contribution in the global medical composite market, owing to increasing demand for medical composite from the diagnostic imaging, owing to its applications in patient imaging accessories and tables used in X-ray, PET, CT, and MRI imaging systems. The Asia Pacific market is projected to register highest revenue growth, owing to increasing demand from healthcare sector in countries in the region.
Global medical composite market segmentation:
Segmentation by Fiber Type:
- Carbon fiber composites
- Ceramic fiber composites
- Other fiber composites
Segmentation by Application:
- Diagnostic imaging
- Composite body implants
- Surgical instruments
- Others (Dental, Microsphere, and Tissue engineering)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- 3M Company
- Koninklijke DSM N.V.
- Koninklijke Ten Cate nv
- Toray Industries, Inc.
- icotec ag
- Mitsubishi Rayon Co. Ltd.
- Composiflex, Inc.
- Kaman Composites - Vermont, Inc.
- Advanced Composites, Inc.
- Quatro Composites, LLC
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