Chicago, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The Medical Composites Market size is expected to reach USD 1,478 million by 2025, projecting a CAGR of 9.9% between 2020 and 2025, as per the recent study by MarketsandMarkets™. Applications of medical composites are increasing in diagnostic imaging, composite body implants, surgical instruments, and dental applications due to their exceptional properties. The increasing demand for medical composites from diagnostic imaging applications drives the medical composites market
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Browse in-depth TOC on "Medical Composites Market ”
126 - Market Data Tables
32 - Figures
163 - Pages
List of Key Players in Medical Composites Market :
- 3M (US), Toray Industries, Inc. (Japan)
- CeramTec GmbH (Germany)
- Dentsply Sirona (US)
- Royal DSM N.V. (Netherlands)
- SGL Carbon (Germany)
- Isotek AG (Switzerland)
Key Findings of the Study:
- Carbon fiber type of medical composites comprises a major share of the medical composites market in terms of value and volume.
- The diagnostic imaging application accounts for the largest market share in the global medical composites market during the forecasted period in terms of value and volume.
- North America is expected to account for the largest market share in the medical composites market during the forecast period.
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The diagnostic imaging is the largest application of medical composites in terms of value. This is due to the exceptional properties of medical composites over traditional materials that enable its usage in a diagnostic imaging application. The properties include radiolucency, thermal resistance, and absorption of low levels of radiant energy. These characteristics minimize signal attenuation to enable the capturing of clear images for use in medical diagnostics. Composites are highly compatible with X-ray, CT, and MRI scans, enabling better post-operative monitoring of the fractured part. Upcoming applications such as tissue engineering, microspheres, and wheelchairs will further drive the medical composites market.
The US is the largest market for medical composites in the world, in terms of both value and volume. The trend is expected to be the same during the forecast period. The high demand for medical composites from the US is due to the growing diagnostic imaging and composite body implant applications. North America witnessed high growth in MRI and CT scanning equipment in recent years, and this is expected to significantly contribute to the growth of the medical composites market as they are extensively used in these diagnostic equipment. With Germany, the US, Spain, India being the most affected countries, the entire supply chain in the medical composites industry is disrupted globally. The lockdown of international borders has reduced the growth of the medical composites market in Europe and North America.
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Medical composites are segmented based on fiber type into carbon fiber, ceramic fiber, and other composites. The carbon fiber composites type holds the largest share in the global medical composites market. This share can be attributed to the increased use of composite products in applications such as wheelchairs, X-ray machines, nuclear scanning machine composite components, artificial limbs, and body implants. Their wide usage is attributed to their excellent properties such as low weight, radiolucency, high strength, and better aesthetics.
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