Medical Composites Global Market Report 2022: Ukraine-Russia War Impact

NEW YORK, Dec. 1, 2022 /PRNewswire/ --

Major players in the medical composites market are The 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, Kulzer GmbH, Kaman Corporation , Den-Mat Holdings LLC, Ivoclar Vivadent Inc, Tokuyama Dental Corporation Inc, Quantum Composites Inc, Teijin Limited, Dental Technologies Inc



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The global medical composites market is expected to grow from $1.01 billion in 2021 to $1.13 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The medical composites market is expected to grow to $1.73 billion in 2026 at a CAGR of 11.1%.

The medical composites market consists of sales of medical composites by entities (organizations, sole traders, and partnerships) that are used in diagnostic imaging, biological resurfacing of damaged areas, surgical applications, and dental implants. Medical composites refer to a combination of two or more materials that are distinctive from each other in terms of physical and chemical properties.

The main types of medical composites are carbon fiber, ceramic fiber, and other fiber types.Ceramic fibers are small-dimension filament or thread composed of a ceramic material, usually alumina and silica, used in lightweight units for electrical, thermal, and sound insulation.

The process used are wet lamination, prepreg, and other processes. The various applications involved diagnostic imaging, composite body implants, surgical instruments, dental, and other applications.

North America was the largest region in the medical composites market in 2021. The regions covered in this medical composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing demand for medical composites from the healthcare sector is expected to propel the growth of the medical composites market going forward.The healthcare sector is consisting of businesses that provide medical and clinical services, the development of medical devices and medicines, and medical insurance for the treatment of patients' diseases.

The demand for medical composites in the healthcare sector is increasing due to the rising need for medical instruments.For instance, in 2020, The Observatory of Economic Complexity (OEC), a Brazil-based data visualization and distribution platform that provides economic activities of the world, the total production trade value of medical instruments was $133 billion across the globe in the world.

Therefore, the increasing demand for medical composites from the healthcare sector is driving the growth of the medical composites market.

Technological advancements are a key trend gaining popularity in the medical composite market.Major companies operating in the medical composites market are focused on developing new technological solutions to strengthen their position.

For instance, in February 2022, Nobio, an Israel-based company operating in medical composites launched Infinix, a brand-new collection of advanced antimicrobial restorative materials created to combat recurring deterioration.Nobio's new QASiâ„¢ antimicrobial particle technology is a part of the infinix system used in the universal and flowable composites and the universal bonding system.

The new restorative materials with QASiâ„¢ antimicrobial particle technology are utilized for preventing tooth demineralization, providing long-lasting bacterial inhibition at the restorative margins, and decreasing restoration failure because of secondary caries.

In June 2021, The Gund Company Inc, a USA-based manufacturing company specializing in engineered material solutions acquired Power & Composite Technologies, LLC for an undisclosed amount.This acquisition would help The Gund Company to increase its product portfolio in medical composites and material solutions for medical devices.

Power & Composite Technologies, LLC is a US-based company operating in medical composites.

The countries covered in the medical composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The medical composites market research report is one of a series of new reports that provides medical composites market statistics, including medical composites industry global market size, regional shares, competitors with a medical composites market share, detailed medical composites market segments, market trends and opportunities, and any further data you may need to thrive in the medical composites industry. This medical composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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