Press release
Medical Composites: A $2.78 Billion Market by 2029 with 14.6% CAGR Driven by Aging Population, Regulatory Compliance and Technological Advancements
Medical Composites Market
What Is The Projected Market Size Of The Global Medical Composites And Its Growth Rate?
• The medical composites market will grow from $1.43 billion in 2024 to $1.61 billion in 2025 at a compound annual growth rate (CAGR) of 12.5%.
• The market will further grow to $2.78 billion in 2029 at a CAGR of 14.6%.
• Growth in the historic period can be attributed to orthopedic applications, aging population, trauma and sports injuries, regulatory compliance, patient-centric care.
• Major factors contributing to growth in the forecast period are personalized implants, additive manufacturing, rise in telehealth services, regenerative medicine, biocompatible nanocomposites.
What Is Driving The Growth In The Medical Composites?
Increased demand for medical composites from the healthcare sector is driving the market's growth. Encompassing businesses that provide medical and clinical services, the healthcare sector is expanding due to rising need for medical instruments. For instance, according to MedTech Europe, approximately 11% of the gross domestic product (GDP) in Europe is allocated to healthcare, of which 7.6% is attributed to medical technologies. This demonstrates the scope of potential growth for medical composites in the healthcare market.
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Who Are the Key Players Driving Medical Composites Growth?
The market is influenced by several key players including:
• 3M Company
• Toray Industries Inc.
• SGL Carbon SE
• CeramTec GmbH
• Composiflex Inc.
• Dentsply Sirona Inc.
• Mitsubishi Chemical Holdings Corporation
• Avient Corporation
• Zeus Industrial Products Inc.
What Are The Key Trends In The Medical Composites?
The key trends in the market are shaping growth strategies:
• Customized 3D-printed implants
• Remote monitoring
• Smart composite materials
• Sustainability and eco-friendly materials
• Wearable health devices
What Are The Segments Of The Global Medical Composites?
The market is segmented based on:
1) Fiber Type: Carbon Fiber, Ceramic Fiber, Other Fiber Types
2) Process: Wet Lamination, Prepreg, Other Process
3) Application: Diagnostic Imaging, Composite Body Implants, Surgical Instruments, Dental, Other Applications
Which Region Leads The Medical Composites?
North America was the largest region in the medical composites market in 2024. However, the medical composites market spans globally across Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Medical Composites Global Market Report?
- Market Size, Segmentation, Key Player and Growth Trend Analysis.
- Growth Factors, Opportunities, Risks Analysis.
- Key competitive developments like expansions, agreements, and new product launches in the market.
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