Medical Composites Market to Receive Irresistible Growth of USD 1,929.30 Million by 2029

Over the past few years, medical composites market manufacturers have continuously exerted efforts towards launching advanced devices in the market that will not only increase their product lines but also enhance their overall net profits. The carbon fiber segment covers maximum share in the growth of the medical composite market during the forecast period because carbon fiber medical composites provide improved load-bearing capability which makes them more suitable to be used in artificial limbs is the key market trend.

Data Bridge Market Research analyses that the medical composite market is expected to undergo a CAGR of 8.55% during the forecast period. This indicates that the market value, which was USD 1,000.83 million in 2021, would rocket up to USD 1,929.30 million by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Recent Development

In April 2019, 3M had launched Filtek Universal restorative composites product. This new product involves a unique shading system in an innovative material that provides proficiency and long-lasting and highly esthetic result.

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Leading Key Players Operating in the Medical Composites Market Includes:

3M (U.S.)
Toray Industries, Inc. (Japan)
CeramTec GmbH (Germany)
Dentsply Sirona (U.S.)
Royal DSM (Netherlands)
SGL Carbon (Germany)
Mitsubishi Chemical Corporation (Japan)
Avient (U.S.)
Composiflex (U.S.)
Polygon Company (India)
ACP Composites, Inc.(U.S.)
Icotec ag (Switzerland)
IDI Composites International (U.S.)
Kulzer GmbH (Germany)
Zeus Industrial Products, Inc. (U.S.)

Global Medical Composite Market Scope

The medical composite market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

Ceramic Fiber
Carbon Fiber

Application

Composite Body Implants
Dental
Diagnostic Imaging
Surgical Instruments

Medical Composite Market Regional Analysis/Insights

The medical composite market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the medical composite market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe dominates the medical composite market due to the increasing demand of diagnostic imaging for its applications in patient imaging accessories and MRI imaging systems.

Asia-Pacific will continue to project the highest compound annual growth rate during forecast period of 2022-2029 due to the growing demand from healthcare industry in this region.

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Medical Composite Market Dynamics

Drivers

Rising use in the X-ray machine

Medical composites are widely used in different X-ray machines because of their provision of producing low level of radiations. Due to this, the demand of medical composites has strengthened in X-ray technologies over the past half-decade. Such technological advancements in medical diagnostic devices have enforced the manufacturers to invest in producing promising medical composites based products.

Increase the usage in dental care

The dental issues are growing rapidly all over the globe due to the increase in demand of dental composite materials. The increase in the number of dental patients upsurge the demand of dental composite materials which are expected to drive the growth rate of the medical composite market.

Rise the demand of carbon fiber medical composites

In surgical application, carbon fiber medical composites are widely used due to their lightweight and chemical inertness properties. Furthermore, those medical composite made of carbon fiber is utilized as a conjugation material in medical application, an alternative over polymeric or metallic materials.

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COVID-19 Impact on Medical Composite Market

The covid-19 pandemic is expected to witness a decline in the growth of the medical composites market. This coronavirus has adversely affected the overall globe, especially the developing regions. During the pandemic companies has shut down their manufacturing and operations facilities. The dental treatments were restricted and hospitals were operating at emergency patients only. This has led to a decline in the consumption of medical composites across many applications such as surgical instruments, diagnostic imaging, composite body implants, and others.

Opportunities

Strategic projects by organisation and advanced technology

The development and production projects are being started to decrease the manufacturing costs of carbon fiber reinforced products through process solutions in medical technology. Several organizations are widely developing different medical composites to increase the production processes to attain more stability of the product, which are expected to create immense opportunities for the growth of the medical composites market.

Fathomers, the development of new medical composites materials and the demand of biodegradable medical composites for medical implants will further create several opportunities for the growth of the medical composites market in the above mentioned forecast period.

Restraints/Challenges

High production cost

The high cost of composites product due to the involvement of complex processes for the production of medical composites is expected to obstruct the growth of the global medical composite market.

Stringent rules and regulations

Strict rules and regulations imposed by the food and drug administration will restrain the growth of the medical composite market during the forecast period of 2022 to 2028.

Medical Composites Key Benefits over Global Competitors:

The report provides a qualitative and quantitative analysis of the Medical Composites market trends, forecasts, and market size to determine new opportunities.

Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.

Top impacting factors & major investment pockets are highlighted in the research.

The major countries in each region are analyzed and their revenue contribution is mentioned.

The market player positioning segment provides an understanding of the current position of the market players active in the Medical Composites
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Research Methodology: Global Medical Composite Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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