NEW
YORK, July 16, 2024 /PRNewswire/ -- The
global medical composite materials market size is
estimated to grow by USD 871.8
million from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of 10.87% during the forecast
period. Increasing demand for lightweight material in medical
industry is driving market growth, with a trend
towards increasing use of ceramic matrix composites in medical
industry. However, fluctuations in raw material prices of
medical composite materials poses a challenge. Key market players
include 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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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Application (Diagnostic
imaging, Orthopedics, Needles and syringes, Dental, and
Microsphere), Type (Fiber composites, Polymer-ceramic composites,
and Polymer-metal composites), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
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.
|
Key Market Trends Fueling Growth
In the medical industry, ceramic matrix composites (CMCs) have
gained significant attention due to their superior strength and
wear resistance properties. These composites have been extensively
used in dental and orthopedic applications due to their high flaw
tolerance, preventing microcracks during polishing or roughening.
The demand for dental and orthopedic implants is on the rise,
particularly in countries like Japan, Korea, and China, with large aging populations.
Developing countries such as India
and Russia also have a substantial
aging population base, leading to an increase in medical surgeries,
especially in orthopedics. This trend is expected to boost the
demand for CMCs in medical applications. Composite materials offer
several advantages over metals for biomedical applications. For
instance, some composites are transparent, allowing clear X-ray
views, enabling doctors to assess injury healing or damage
accurately. Moreover, some patients have metal allergies, making
composite materials a viable alternative. The growing adoption of
CMCs in the medical industry will positively impact the expansion
of the global medical composite materials market during the
forecast period.
Medical composite materials have gained significant attention in
the healthcare industry due to their unique properties. These
materials, made from combining different substances, offer benefits
such as biodegradability, easy manufacturability, and excellent
mechanical properties. The market for composite biomaterials is
expected to grow, with applications in cardiovascular diseases,
surgical procedures, and medical imaging. Carbon composites, like
carbon fiber and hydrophobic matrices, are popular choices due to
their lightweight, inert, and thermal stability. Healthcare
companies are increasingly using composite materials in place of
conventional ones, such as metallic materials, for surgical
departments and medical equipment. Biocompatibility is crucial,
ensuring the materials do not harm the body during surgical
applications. Biodegradability is also essential for minimally
invasive surgeries and tissue engineering. Analysts predict a rise
in demand for composite materials in dental implants and diagnostic
imaging systems. Energy consumption and environmental impacts are
also considerations, with composite materials offering lower energy
consumption and reduced environmental impact compared to
traditional materials. Carbon fiber composites and glass fiber
composites have applications in surgical spreaders, dental
implants, and even in the production of lightweight, strong
artificial limbs. The future of medical composite materials lies in
their ability to meet the demands of the healthcare industry while
minimizing costs and environmental impact.
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Market Challenges
- Medical composite materials offer numerous advantages in the
healthcare industry due to their strength, lightweight,
and biocompatibility. However, their high cost compared to
traditional materials like plastics, metals, and polymers poses a
significant challenge to market growth. The most expensive
composite material is carbon fiber, with production costs nearly
eight times higher than steel. The primary reason for this is the
expensive raw material, polyacrylonitrile, used in carbon fiber
production. The high cost of these materials significantly impacts
customer purchasing decisions, as they typically bear most of these
expenses. Vendors strive for competitiveness through low-price
strategies, but this can lead to reduced profit margins.
Manufacturers must focus on reducing production costs through
advanced manufacturing techniques and innovative processes to
offset raw material price fluctuations. These price fluctuations
are expected to hinder the growth of the global medical composite
materials market.
- The medical composite materials market encompasses the
production and application of composite materials, primarily glass
fiber and carbon fiber, in surgical departments for various medical
applications. Challenges include radiolucency, thermal
resistance, and compatibility with diagnostic imaging such as
X-ray, CT, and MRI scans. Surgical departments use these
lightweight, inert materials for implants, artificial limbs, and
surgical instruments. The carbon fiber segment and ceramic fiber
segment lead the market. Assumptions about market growth include
the increasing demand for minimally invasive surgeries,
advancements in medical cartilage and biological resurfacing, and
the growing number of road traffic accidents. Factories producing
these materials must consider mission-critical applications,
cardiovascular applications like stents, and treatment options for
vaccines. Business activities include virtual events, webinars, and
collaborations with hospitals and healthcare facilities. The market
faces competition from metallic materials but offers advantages in
output and cost-effective solutions with the emergence of low-cost
carbon fiber.
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challenges - Download a Sample Report
Segment Overview
This medical composite materials market report extensively
covers market segmentation by
- Application
- 1.1 Diagnostic imaging
- 1.2 Orthopedics
- 1.3 Needles and syringes
- 1.4 Dental
- 1.5 Microsphere
- Type
- 2.1 Fiber composites
- 2.2 Polymer-ceramic composites
- 2.3 Polymer-metal composites
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Diagnostic imaging- Diagnostic imaging is a crucial
branch of medicine that utilizes electromagnetic radiation to
create accurate images of the human body's internal structures.
Radiology, a medical specialty, employs radiation to diagnose and
treat diseases. Diagnostic imaging techniques include radiography,
CT scans, MRI, interventional radiology, nuclear medicine,
sonography, and radiation therapy. Medical composite materials play
a significant role in diagnostic imaging systems, particularly in
patient positioning systems for X-ray systems and CT scanners.
These materials must offer stiffness, strength, low weight, and
minimal impact on image quality. Medical composite materials find
applications in various diagnostic imaging equipment, such as
X-rays, CT scanners, PET-CT, nuclear medicine, oncology, and
medical equipment modalities. The increasing demand for accurate
patient diagnosis through diagnostic imaging is expected to fuel
the growth of the global medical composite materials market during
the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
The global Medical Devices Market is witnessing robust growth,
driven by technological advancements and increasing healthcare
expenditure. The global Wearable Medical Devices Market is
expanding rapidly, fueled by rising health consciousness and
innovations in wearable technology. Meanwhile, the global Medical
Transcription Market is thriving due to the growing demand for
accurate medical records and the need for efficient healthcare
documentation. Key players in these markets are continuously
investing in research and development to enhance product offerings
and improve patient outcomes, ensuring sustained growth in these
dynamic sectors.
Research Analysis
The Medical Composite Materials market encompasses the use of
composite materials, primarily glass fiber composites, in various
applications within surgical departments. These materials offer
advantages such as radiolucency for easy imaging during X-ray, CT,
and MRI scans, thermal resistance for temperature stability during
surgical procedures, and lightweight properties for use in surgical
instruments. Composite body implants, including orthopedic and
dental implants, are a significant application area. Assumptions
about the market's growth are driven by the increasing demand for
mission-critical medical applications, such as cardiovascular
applications including stents. Factories producing these materials
have adapted to the current situation by organizing virtual events
and webinars instead of physical conferences. The use of low-cost
carbon fiber composites is also gaining popularity due to their
cost-effectiveness and high strength-to-weight ratio. The market's
expansion is further fueled by the growing number of hospitals and
healthcare facilities, as well as the increasing production of
vaccines. Metallic materials continue to face competition from
composite materials in many applications due to their inherent
advantages.
Market Research Overview
Medical composite materials refer to the combination of organic
and inorganic components to create materials with unique properties
for use in various medical applications. These materials, including
glass fiber composites, are increasingly being used in surgical
departments due to their lightweight, inert, and biocompatible
nature. They find extensive use in minimally invasive surgeries,
composite body implants, and surgical instruments. Fiber type plays
a crucial role in determining the properties of composite
materials, with carbon fiber and ceramic fiber segments being
popular choices. Medical composites offer several advantages such
as radiolucency for diagnostic imaging, thermal resistance for use
in radiation and high-temperature environments, and
biodegradability for tissue engineering. They are also used in the
production of artificial limbs and surgical instruments.
Assumptions about medical composites include their low-cost carbon
fiber variants, easy manufacturability, and compatibility with
medical imaging systems like X-ray, CT, and MRI scans. However,
challenges such as thermal stability, mechanical properties, and
environmental impacts need to be addressed. The market for medical
composites is driven by the increasing demand for treatment options
for cardiovascular diseases, road traffic accidents, and other
health issues. Business activities in this sector include
factories, virtual events, and webinars. Mission-critical
applications include cardiovascular applications like stents and
surgical procedures. Analysts predict that the market for medical
composites will continue to grow due to their advantages over
conventional materials. However, concerns about energy consumption,
recycling, and biocompatibility remain. The future of medical
composites lies in their use in vaccine production, diagnostic
imaging systems, dental implants, and tissue engineering.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- 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
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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market opportunities and develop effective strategies to optimize
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and potential markets and assess their competitive positions within
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