NEW YORK, Nov. 14, 2016 /PRNewswire/ -- "Medical composites market projected to register a CAGR of 7.10% during forecast period"
The medical composites market size is projected to reach USD 934.7 million by 2021, at a CAGR of 7.10% between 2016 and 2021. The major driver stimulating the medical composites market is high demand from diagnostic imaging. Medical composites are thermal resistant and exhibit very low moisture absorption, which are ideal for surgical and other medical equipment. Over the last few years, there has been a significant increase in the use of composites for implant devices due to their excellent strength, toughness, and bio-inert properties. High cost of carbon fiber and stringent regulatory laws are restraining the growth of the medical composites market.
"Medical composites market projected to witness highest growth in diagnostic imaging application segment, in terms of value"
The key drivers of the medical composites market is increasing applications in patient imaging tables and accessories used in X-ray, computerized tomography (CT), magnetic resonance imaging (MRI) systems, positron emission tomography (PET) and other diagnostic devices. Medical composites are used in this applications for their properties such as radiolucency, lightweight, and resistance to high temperatures
"North America is the fastest-growing market for medical composites"
North America is projected to be the fastest-growing market for medical composites in the next five years. The market in this region is driven by increasing consumption of medical composites in various applications such as composite body implants, diagnostic imaging, and dental. The U.S. leads the market in North America.
This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By company type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
- By designation- C Level- 4%, Director Level- 15%, and Others- 45%
- By region- North America- 15%, Europe- 55%, Asia-Pacific- 30%.
The report provides a comprehensive analysis of the companies listed below:
- 3M (U.S.)
- Royal DSM (Netherlands)
- Royal TenCtae N.V.
- Toray Industries Inc. (Japan)
- Icotec Ag (Switzerland)
- Mitsubishi Rayon Co. Ltd. (Japan)
- Composiflex Inc. (U.S.)
- Vermont Composites Inc. (U.S.)
- ACP Composites Inc. (U.S.)
- Quatro Composites LLC (U.S.)
Scope of the Report
This report covers the market of medical composites and forecasts the market size till 2021. The report includes market segmentation on the basis of fiber type (carbon fiber, ceramic fiber, and others), application (diagnostic imaging, surgical instruments, composite body implants, dental, engineering, and others), and region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The drivers, restraints, challenges, and opportunities of the market have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major market players in the medical composites market.
Reasons to Buy the Report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the medical composites market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, exhibitions, and mergers & acquisitions.
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