Latest News - Medical Composite Materials Market: Diagnostic imaging is expected to lead the Application segment during 2024-2028

The Medical Composite Materials Market is being driven by Increasing demand for lightweight material in medical industry

The Medical Composite Materials Market is expected to grow at a CAGR of 10.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 871.8 million. In the medical sector, ceramic matrix composites (CMCs) have gained significant traction due to their superior mechanical properties, including high strength and wear resistance. These advantages make CMCs an attractive alternative to monolithic ceramics in various medical applications, particularly in the dental and orthopedic industries. CMCs exhibit superior flaw tolerance, which is crucial in preventing microcracks during manufacturing processes such as polishing or roughening. The escalating demand for dental and orthopedic implants, driven by aging populations in countries like Japan, Korea, and China, is fueling the market growth for CMCs. These advanced materials are increasingly being utilized in bone and dental implants to enhance their overall flexural strength. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Diagnostic imaging
  • Orthopedics
  • Needles and syringes
  • Dental
  • Microsphere
• Type
  • Fiber composites
  • Polymer-ceramic composites
  • Polymer-metal composites
• End-User
  • Hospitals
  • Medical Device Manufacturers
  • Research Institutions
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • APAC
    • China
    • India
    • Japan
  • South America
    • Argentina
    • Brazil
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for lightweight material in medical industry
• Increase in demand for carbon fiber-reinforced plastics for biomedical applications
• Emergence of novel materials in medical sector

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices of medical composite materials
• Lack of effective recycling technologies
• Risks associated with introducing new technologies in medical industry

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Market Scope in Medical Composite Materials Market Research Report

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Research Analysis Overview

The Medical Composite Materials Market is experiencing significant growth due to the increasing demand for advanced medical devices, particularly in cardiovascular applications. Stents made from composite materials are gaining popularity in mission-critical applications due to their flexibility, strength, and biocompatibility. Business activities in this market include the production of composite materials for use in healthcare facilities, hospitals, and factories. Webinars and virtual events provide a platform for industry professionals to discuss the latest trends and innovations in composite materials for medical applications. Low-cost carbon fiber composites are a promising development in this market, offering improved thermal resistance and radiolucency for use in MRI scans, CT, and X-ray imaging. Assumptions about the future of the market include the continued development of composite materials for surgical instruments and composite body implants, which can enhance healing and reduce the need for surgical interventions. Metallic materials continue to dominate the market, but glass fiber composites are gaining ground due to their lightweight and durable properties. Composite materials are also being used in the production of vaccines and other pharmaceuticals, further expanding the market's reach. In summary, the Medical Composite Materials Market is a dynamic and innovative sector, driven by the demand for advanced medical devices and the ongoing quest for materials that can improve patient outcomes and reduce healthcare costs.

Market Research Overview

The global specialty chemicals market encompasses businesses specializing in high-value-add chemicals utilized in the production of a diverse range of products, including fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers involved in the production of high-value-added chemicals. Factors propelling the expansion of the specialty chemicals market include the increasing preference for specialty adhesives and sealants, driven by the burgeoning demand for these products across various industries. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/