Medical Composite Market Leading Global Companies and Regional Average Pricing Analysis by 2030

Increase in use of medical composites in diagnostic imaging application and surge in demand from composite body implants drive the growth of the global medical composites market. Based on application, the diagnostic imaging segment accounted for the major share in 2020. By region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
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The global medical composites market was estimated at $0.9 billion in 2020 and is expected to hit $2.1 billion by 2030, registering a CAGR of 9.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

The existing materials used in medical applications for fractures and bandaging have been replaced with innovative composite materials as researchers focus on research and development activities. Various experiments have been conducted to introduce new composite materials that can replace the existing ones and offer remarkable properties in medical applications. Novel combination of nonwoven fabric and cotton is utilized for development of a material that is more water absorbent, stretchable, and breathable as compared to existing bandage materials. Moreover, composite materials that can be utilized for complex and unstable fractures are developed. These innovative plates offer better recovery paths as compared to the currently used materials. The demand for medical composites is expected to increase in the coming years.

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Researchers from various universities have been developing innovative materials that have potential in medical applications. University of Georgia researchers developed a composite material that can be used in masks and bandages in medical applications. Moreover, the material is environmentally friendlier as compared to available materials. Nonwoven fabrics are used for development of materials that are breathable, stretchable, and absorbent. These characteristics are favorable for medical applications. Moreover, cotton is utilized in this material, which in turn, makes it comfortable for skin. The material is easier to compost. So, it offers environmentally friendly properties.

Researchers tried different combinations of nonwoven fabrics with cotton to determine properties such as water absorbency, stretchability, and breathability. Moreover, they tested original nonwoven fabrics. They found that the composite materials were better functioning as compared to original materials. They were more water absorbent, stretchable, and breathable in comparison to traditional nonwoven fabrics. In addition, the composite material was able to withstand the repeated usage. The production of composite nonwoven composite materials involved usage of low-quality cotton or used T-shirts and bed sheets. This is favorable for environment as well. Researchers highlighted that the new material can be utilized for biomedical applications.

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The trend of development of composite material for replacement of existing materials continues with Swedish researchers developing non-toxic materials. Researchers from the KTH Royal Institute of Technology at Stockholm developed a biocompatible medical composite material to replace metal plates that are used for treatment of unstable and difficult fractures. One of the leading researchers in the development team reported that the innovative materials and method, known as AdhFix, will offer customized plating solutions for fixing fractures. Moreover, it will enable comfortable and less complicated journey of recovery. The researcher highlighted that the newly developed material can be utilized for rib and collarbone fractures, as these fractures are unstable in nature. He noted that the innovative method combines screws with the polymer/hydroxyapatite composites. These composites can be shaped in situ before they can be cured on demand through the advanced coupling chemistry. They can also be applied for veterinary care as well.

The key market players analyzed in the global medical composites market report include Composiflex Inc., Dentsply Sirona, IDI Composites International, Inc., Zeus Industrial Products, Inc., Kulzer GmbH, ROYAL DSM N.V., SGL Carbon SE, the 3M Company, CeramTec GmbH, and Toray Industries, Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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