The global medical composite materials market is forecast to grow at a CAGR of 6.91% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Increased demand for prosthetics and orthotics will be a key trend for market growth. Individuals with damages in their limbs due to accidents or diseases have led to a rise in the demand for artificial limbs made from composite materials.
Even though carbon fiber and fiberglass have high tensile strength, they are brittle and hence cannot be used as prosthetic socket materials. This has resulted in the use of nylon, polyester, and acrylic and epoxy resins in the manufacture of prosthetics and orthotics. The adhesive and mechanical properties of the resins and fibers influence the performance of these products.
According to the report, emergence of lightweight and heat-resistant composites will be a key driver for market growth. Polymer composites are lightweight and heat resistant, and hence can be used as alternatives to metals and alloys. Polymer matrix composites have been used in the manufacture of medical prostheses and implants over the last decade. These composites are divided into reinforced plastics and advanced composites. Advanced composites contain approximately 60% of resistant continuous fibers made of carbon, glass, or aramid materials. They are increasingly being used in medical equipment such as surgical instruments, orthopedic products, and biocompatible implants.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?