Dublin, March 29, 2023 (GLOBE NEWSWIRE) -- The "Medical Composite Materials Market by Type (Fiber Composites, Polymer-Ceramic Composites, Polymer-Metal Composites), Application (Orthopedics, Dental, Diagnostic Imaging, Needles and Syringes, Microsphere), and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global medical composite materials market size reached US$ 937.6 Million in 2022. Looking forward, the analyst expects the market to reach US$ 1,395.2 Million by 2028, exhibiting a CAGR of 6.85% during 2022-2028.
The increasing prevalence of joint problems, the widespread product utilization in diagnostic imaging systems, and significant improvement in the healthcare industry represent some of the key factors driving the market.
Medical composite materials are a blend of two or more materials with different chemical or physical properties. They are widely used in the place of plastic, steel, and aluminum to produce customized and complex products like prosthetics, advanced orthopedic devices, and body implants.
Medical composite materials help to replace, restore, and improve the functions of degenerated or disturbed tissues and organs. They are also used in diagnostic instruments to lower the weight of the device, which assists in generating clearer images. Medical composite materials are durable, lightweight, corrosion-resistant, bio-compatible, and radiolucent. As a result, these materials find extensive applications in bone plates, intramedullary nails, bone replacement, dental fillings, and bone cement.
Medical Composite Materials Market Trends:
The increasing prevalence of joint problems is one of the key factors driving the growth of the market. Medical composite materials are used to manufacture artificial limbs and in orthopedic applications, such as bone fixation plates and hip joint replacement. Moreover, the widespread product utilization in diagnostic imaging systems, patient imaging tables, and accessories used in positron emission tomography (PET), X-ray, computed tomography (CT), and magnetic resonance imaging (MRI) systems is acting as another growth-inducing factor.
Apart from this, the recent development of carbon fiber composite materials implanted into cartilage to promote biological resurfacing of damaged areas due to its load-carrying links in joint mechanisms of artificial limbs is providing an impetus to the market growth. In addition to this, key players are focusing on the utilization of carbon fiber reinforced polymer (CFRP) for prosthetic limbs, and medical implants to replace damaged bone due to its lightweight structural properties is favoring the market growth. Furthermore, the increasing incidences of tooth decay and dental issues are propelling the market growth.
Medical composite materials are widely used to restore a tooth surface to its natural shape and protect against biting forces, chewing motions, or accidental contact with a hard surface. Besides this, several organizations are widely developing different biodegradable medical composites and decreasing manufacturing costs, which, in turn, is positively influencing the market growth. Other factors, including the rising geriatric population, increasing expenditure capacities of consumers, significant growth in the healthcare industry, and the widespread product utilization in needles and syringes to improve performance, are anticipated to drive the market growth.
Key Market Segmentation:
Type Insights:
- Fiber Composites
- Polymer-Ceramic Composites
- Polymer-Metal Composites
The report has provided a detailed breakup and analysis of the medical composite materials market based on the type. This includes fiber, polymer-ceramic, and polymer-metal composites. According to the report, fiber composites represented the largest segment.
Application Insights:
- Orthopedics
- Dental
- Diagnostic Imaging
- Needles and Syringes
- Microsphere
The report has provided a detailed breakup and analysis of the medical composite materials market based on the application. This includes orthopedics, dental, diagnostic imaging, needles and syringes and microsphere. According to the report, diagnostic imaging represented the largest segment.
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa.
Key Questions Answered in This Report:
- How has the global medical composite materials market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global medical composite materials market?
- What are the key regional markets?
- Which countries represent the most attractive medical composite materials markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on application?
- What is the competitive structure of the global medical composite materials market?
- Who are the key players/companies in the global medical composite materials market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
5 Global Medical Composite Materials Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
12 Price Analysis
13 Competitive Landscape
Companies Mentioned
- 3M Company
- CK Composites Co. LLC.
- Composiflex Inc.
- Evonik Industries AG (RAG-Stiftung)
- Polygon Company
- Toray Advanced Composites (Toray Industries Inc.)
For more information about this report visit https://www.researchandmarkets.com/r/ssya3g
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