Medical Composite Materials Market size to increase by USD 642.44 million between 2022 to 2027, 3M Co., ACP Composites Inc., Avient Corp. and more among key companies, Technavio

NEW YORK, March 18, 2024 /PRNewswire/ -- The Medical Composite Materials Market size is expected to grow by USD 642.44 million, accelerating at a CAGR of  9.02% during the forecast period. We provide a detailed analysis of 20 companies operating in the medical composite materials market including  3M Co., ACP Composites Inc., Avient Corp., Coltene Whaledent AG, Composiflex, CoorsTek Inc., Den Mat Holdings LLC, Dentsply Sirona Inc., Evonik Industries AG, Henkel AG and Co. KGaA, icotec AG, Kaman Corp., Koninklijke DSM NV, Kulzer GmbH, Mitsubishi Chemical Group Corp., Polygon Co., SGL Carbon SE, Shofu Inc., Tokuyama Corp., and Toray Industries Inc.

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Increasing demand for lightweight material in the medical industry is notably driving the medical composite materials market. However, factors such as fluctuations in raw material prices of medical composite materials may impede market growth. At Technavio,

Segmentation Overview

Application

• Diagnostic imaging
• Orthopedics
• Needles and syringes
• Dental
• Microsphere

Type

• Fiber composites
• Polymer-ceramic composites
• Polymer-metal composites

Geography

• North America
• Europe
• APAC
• South America
• Middle East and Africa 

The diagnostic imaging segment is expected to experience significant growth during the forecast period. Diagnostic imaging uses electromagnetic radiation to create precise images of the inside of the human body. This crucial medical practice relies heavily on radiology, a branch of medicine that utilizes radiation for both diagnosis and treatment. Diagnostic imaging encompasses various techniques, including X-rays (radiography), CT scans (computed tomography), MRI scans (magnetic resonance imaging), interventional radiography (IR), nuclear medicine, ultrasound (sonography), and radiation therapy.

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Analyst Review

The medical composite materials market is witnessing a surge in innovation and adoption, particularly in the Asia-Pacific region, driven by the growing demand for high-tech prostheses, minimally invasive surgery (MIS) equipment, and advanced diagnostic imaging applications. This burgeoning market encompasses a wide array of materials, including carbon fiber, epoxy, glass fiber, hydroxyapatite, and metallic or polymeric composites, each tailored to meet the stringent requirements of the medical industry. Consultancy firms play a pivotal role in shaping the landscape of the medical composites market, providing valuable insights to CXOs and top-level executives navigating this dynamic sector. Companies are focusing on developing biocompatible materials with corrosion-resistant properties, ensuring physiologically innocuous solutions for surgical applications. High-tech prostheses, dental implants, and medical cartilage utilizing these advanced materials are revolutionizing patient care and outcomes.

Carbon fiber segments are gaining prominence in the production of artificial limbs and precision surgical instruments, offering lightweight and durable alternatives to traditional materials. Additionally, the incorporation of glass fiber or fiberglass composites in dental care and osseous screws is enhancing treatment efficacy and patient comfort. The demand for medical composites is further fueled by the need for sterilizable, corrosion-resistant components in imaging systems such as C-arms and computer tomographs. Moreover, the development of optical fiber and open weave structures in cannula and incision surgical instruments is facilitating minimally invasive procedures, reducing patient trauma and recovery time.

Porter's five forces analysis highlights the competitive landscape of the global medical composites market, with Europe, particularly Germany, emerging as a hub for innovation and production. Financial support from governments and industry players is driving R&D efforts to enhance the performance and versatility of composite materials in surgical applications. The medical composite materials market continues to evolve, driven by technological advancements and the pursuit of superior patient care. With an emphasis on biocompatibility, precision, and durability, these materials are reshaping the medical industry and enabling breakthroughs in diagnostics, treatment, and patient rehabilitation. As key players collaborate and innovate, the future of healthcare looks increasingly promising with the continued integration of advanced composite materials.

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Market Overview

The Asia-Pacific medical composites market is witnessing a surge in demand, particularly in the field of artificial limbs. These innovative carbon fiber medical composites offer biocompatible solutions with corrosion-resistant properties, making them ideal for bearing surfaces in prosthetic limbs. Consultancy firms play a crucial role in the development and distribution of such advanced materials. Cannulas constructed from carbon fiber segments enhance durability and reduce risks associated with traditional materials. Additionally, advancements in medical imaging technologies like C-arms and computer tomographs further drive the adoption of these composites in healthcare. With a focus on biocompatibility and performance, the medical composite materials market continues to revolutionize patient care and rehabilitation.

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Carbon Fiber in the Automotive Composites Market: The carbon fiber in the automotive composites market size is estimated to grow at a CAGR of 6.24% between 2022 and 2027. The market size is forecast to increase by USD 181.63 million.

Nanocomposites Market: The nanocomposites market size is estimated to grow at a CAGR of 16.18% between 2022 and 2027. The market size is forecast to increase by USD 6,995.79 million.

ToC:

1. Excustive Summary
2. Market Landscape
3. Market Sizing
4. Historic Market Sizes
5. Five Forces Analysis
6. Market Segmentation by Application
7. Market Segmentation by Type
8. Market Segmentation by Geography
9. Customer Landscape
10. Geographic Landscape
11. Drivers, Challenges, & Trends
12. Company Landscape
13. Company Analysis
14. Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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