The medical composites market has witnessed significant growth over the past few years owing to the increasing use of composites in medical applications where lightweight, biocompatible and corrosion-resistant materials are required. Medical composites are materials that contain two or more constituents that are combined on a macroscopic scale and aim to offer characteristics different from the individual components. They are used for applications such as implants, prosthetics, instrument trays and surgical devices among others. Medical composites provide advantages such as high strength to weight ratio, customizable mechanical properties, corrosion resistance and improved aesthetics compared to traditional materials. They help reduce pain and weight of implants for patients suffering from fractures and joints problems.
The Global Medical Composites Market is estimated to be valued at US$ 1.23 Bn in 2024 and is expected to exhibit a CAGR of 9.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Medical Composites are Toray Industries Inc., 3M, DSM, Polygon Company, Compoiflex, Icotech AG, Shanghai Cedar Composites Technology Co. Ltd., Vermont Composites, Inc., Royal Tencate N.V., PolyOne Corporation, Quatro Composite LCC, Dentsply Sirona, Ceram Tech GmbH, and Evonik Industries AG. They are focusing on development of lightweight and high strength materials for implants through extensive R&D activities.
The Medical Composites Market Demand is expected to witness significant growth opportunities due to growing aging population and increasing number of orthopaedic surgeries. Additionally, demand for minimally invasive surgeries is also driving the need for lightweight yet durable medical instruments.
Rising demand for fiber reinforced polymer composites in dental, orthopaedic and medical device applications owing to their superior material properties compared to traditional materials like stainless steel, polymer, ceramic and others. Fiber reinforced polymers provide enhanced mechanical strength with reduced weight.
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