Medical Composite Market Projected to Reach $2.1 Billion by 2030 | In-Depth Analysis with Top Key Players

According to a new report published by Allied Market Research, titled, "Medical Composites Market by Fiber Type and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030,"the global medical composites market was valued at $0.9 billion in 2020, and is projected to reach $2.1 billion by 2030, growing at a CAGR of 9.0% from 2021 to 2030.

The global medical composites market is expected to possess high growth potential in the coming years, owing to use of medical composites in diagnostic imaging, composite body implants, dental medical composites, and surgical instruments. Utilization of composite body implants is restricted due to regulatory agencies. However, development of advanced and new composite materials are gaining importance in body implant applications, owing to rise in number of regulatory approvals. For instance, medical composite materials that are used in body implants have been gaining approvals from the U.S. Food and Drug Administration and European Commission.

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Composite is manufactured through blend of two or more materials with different physical or chemical properties. Carbon fiber medical composites are used surgical applications, owing to their chemical inertness and lightweight. In addition, medical composites made up of carbon fiber are utilized as a conjugation material in medical application as an alternative over metallic or polymeric materials.

Medical composites are well-known products owing to their application in load-bearing implants such as to support fractured bone or unstable bone. These composite materials are used due to their capability to share the load with the original bone instead of protecting the bone from stress. Other applications of medical composites include composite nailing system, intramedullary system, and lumbar spacer implant.

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COVID-19 analysis:

The COVID-19 pandemic has spread to over 180 countries and caused huge losses of lives The novel coronavirus is an incomparable global pandemic that has spread to over 180 countries and caused huge losses of lives and the economy around the globe. The global medical composites market has been moderately affected due to COVID-19 pandemic. The major end-users of medical composites include dental, diagnostic, and surgical sectors. Medical composites are used in medical diagnostic devices and treatment owing to the ability of composites to promote the healing process and patient recovery process. Epoxy medical composites are used in medical imaging tables owing to high strength and low signal diminution for nuclear imaging property. In addition, medical composites can also be used in PET/CT diagnostic imaging devices. In addition, several consultancy firms are offering advisory services for those key players that are planning to expand their business and are offering financial support for startup medical composite manufacturing companies. For instance, Alpha Executive Advisory a German based consultancy firmed its agreement with AMAC that will offer financial support to startup companies.

Key Benefits For Stakeholders:

► The report outlines the current market trends and future estimations of global medical composites market from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.

► The Porter's five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.

► The major countries in the region have been mapped according to their individual revenue contribution to the regional market.

► The key drivers, restraints, and opportunities and their detailed impact analysis are explained in the study.

► The profiles of key players and their key strategic developments are enlisted in the report.

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Key Market Players:

► CeramTec GmbH

► Composiflex Inc

► Dentsply Sirona

► IDI Composites International Inc

► Kulzer GmbH

► ROYAL DSM N.V

► SGL Carbon SE

► The 3M Company

► Toray Industries, Inc

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Composite Preforms Market: https://www.alliedmarketresearch.com/composite-preforms-market

Natural Fiber Composites Market: https://www.alliedmarketresearch.com/natural-fiber-composites-market-A69683

Polypropylene and Polypropylene Composites Market: https://www.alliedmarketresearch.com/polypropylene-and-polypropylene-composites-market

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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