How Has the Medical Composites Market Evolved Historically and What is its Current Size?
The medical composites market has seen considerable growth due to a variety of factors.
• The dimensions of the medical composites market have expanded swiftly in the past few years. The market, having been worth $1.43 billion in 2024, is expected to increase to $1.61 billion in 2025, with an impressive compound annual growth rate (CAGR) of 12.5%.
The development during the historic period is due to factors such as orthopedic applications, an aging populace, increased instances of trauma and sports injuries, regulatory adherence, and a focus on patient-centric care.
What is the Forecasted Market Size and CAGR for the Medical CompositesMarket?
The medical composites market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of medical composites is predicted to experience substantial expansion in the coming years, escalating to a value of $2.78 billion in 2029 with a compound annual growth rate (CAGR) of 14.6%.
Factors such as customized implants, additive manufacturing, increased telehealth services, regenerative medicine, and biocompatible nanocomposites can be credited for the growth during the projected period. Prominent trends expected during this forecast period encompass personalized 3D-printed implants, remote patient monitoring, intelligent composite materials, sustainability coupled with eco-friendly materials, and wearable healthcare devices.
What Are The Key Drivers Fueling Growth In The Medical Composites Market?
Growth in the medical composites market is forecasted to hasten due to a surge in demand from the healthcare industry. This sector comprises businesses offering medical and clinical services, development of medical devices, medications, and health insurance for patient treatments. The burgeoning requirement for medical instruments is boosting the demand for medical composites in healthcare. For instance, in September 2022, reports from MedTech Europe, a European trade association based in Belgium that represents medical technology industries, revealed that around 11% of Europe's gross domestic product (GDP) is directed towards healthcare, with about 7.6% being allocated for medical technologies. Healthcare spending on medical technology in European nations fluctuates between roughly 5% to 12% of their aggregate healthcare expenditure. The per capita spending on medical technology in Europe is approximately $346.08 (€284). As such, the uptick in demand for medical composites within the healthcare industry is facilitating the expansion of the medical composites market.
What Are The Principal Market Segments In The Global Medical Composites Industry?
The medical composites market covered in this report is segmented –
1) By Fiber Type: Carbon Fiber, Ceramic Fiber, Other Fiber Types
2) By Process: Wet Lamination, Prepreg, Other Process
3) By Application: Diagnostic Imaging, Composite Body Implants, Surgical Instruments, Dental, Other Applications
Subsegments:
1) By Carbon Fiber: Continuous Carbon Fiber, Short Carbon Fiber, Carbon Fiber Reinforced Polymers (CFRP)
2) By Ceramic Fiber: Alumina Fiber, Zirconia Fiber, Silicon Carbide Fiber
3) By Other Fiber Types: Glass Fiber, Natural Fiber, Aramid Fiber
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Which Emerging Market Trends Are Altering The Medical Composites Sector?
The rise of technological innovation is a prevailing trend in the medical composite market. Numerous leading firms in this industry are prioritizing the development of fresh technological solutions to solidify their standing. For example, in February 2022, Nobio, a company from Israel specializing in medical composites, introduced Infinix, a novel array of enhanced antimicrobial restorative materials, specifically designed to fight repeated decay. The innovative QASi antimicrobial particle technology from Nobio forms a component of the Infinix system, utilized in the universal and flowable composites along with the universal bonding system. The usage of the new restorative materials equipped with QASi antimicrobial particle technology contributes to the prevention of tooth demineralization, facilitates prolonged bacterial inhibition at the restorative verges, and relatively diminishes the failure of restoration due to secondary caries.
Who Are the Key Players in the Medical Composites Market?
Major companies operating in the medical composites market include:
• 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.
• Koninklijke DSM N.V.
• Fillauer LLC
• Getinge Group
• Hill-Rom Holdings Inc.
• icotec AG
• Johns Manville Corp.
• Nippon Sheet Glass Co. Ltd.
• Ossur
• Ottobock SE & Co. KGaA
• Owens Corning
• Park Aerospace Corp.
• Shofu Inc.
• Taishan Fibreglass South Africa (Pty) Ltd
• Fiber Materials Inc.
• Stryker Corporation
What are the Regional Insights into the Medical Composites Market?
North America was the largest region in the medical composites market in 2024. The regions covered in the medical composites market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
