IMARC Group, a leading market research company, has recently releases report titled “Medical Composite Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global medical composite materials market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the medical composite materials market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 937.6 Million |
| Market Forecast in 2028 | US$ 1,395.2 Million |
| Growth rate (2023 to 2028) | CAGR of 6.7% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Medical Composite Materials?
Medical composite materials represent a combination of two or more substances that possess various chemical or physical properties. They are extensively utilized as substitutes for plastic, steel, and aluminum in the production of intricate and customized products, such as prosthetics, advanced orthopedic devices, and body implants. Medical composite materials play a crucial role in replacing, restoring, and enhancing the functions of degenerated or impaired tissues and organs. In addition to this, they are used in diagnostic instruments to reduce the weight of the device, thereby facilitating clearer imaging. As a result of their durability, lightweight nature, corrosion resistance, biocompatibility, and radiolucency, medical composite materials find widespread applications in bone plates, replacements and cement, intramedullary nails, and dental fillings.
What are the growth prospects and trends in the medical composite materials industry?
The high prevalence of joint issues and the extensive product utilization for the production of artificial limbs and orthopedic applications, including bone fixation plates and hip joint replacements, are primarily driving the medical composite materials market. Besides this, the escalating demand for these substances in diagnostic imaging systems, patient imaging tables, and accessories utilized in positron emission tomography (PET), X-ray, computed tomography (CT), and magnetic resonance imaging (MRI) systems is further augmenting the market growth. Moreover, the growing popularity of carbon fiber reinforced polymer (CFRP) for prosthetic limbs and medical implants to replace injured bone and promote biological resurfacing of damaged areas is also catalyzing the global market. Apart from this, the increasing incidence of tooth decay and dental issues and the elevating product requirement for restoring tooth surfaces to their natural shape and providing protection against biting forces, chewing motions, or accidental contact with hard surfaces are acting as significant growth-inducing factors. Furthermore, the development of biodegradable substances and the usage of these components in needles and syringes are anticipated to propel the medical composite materials market over the forecasted period.
Who are the key players operating in the industry?
The report covers the major market players including:
- 3M Company
- CK Composites Co. LLC.
- Composiflex Inc.
- Evonik Industries AG (RAG-Stiftung)
- Polygon Company
- Toray Advanced Composites (Toray Industries Inc.)
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Fiber Composites
- Polymer-Ceramic Composites
- Polymer-Metal Composites
Application Insights:
- Orthopedics
- Dental
- Diagnostic Imaging
- Needles and Syringes
- Microsphere
Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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