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The global medical composites market size is expected to reach USD 996.8 Million at a revenue CAGR of 9.9% in 2021, according to latest analysis by Emergen

VANCOUVER, BC, CANADA, September 14, 2022 /EINPresswire.com/ -- The global medical composites market size is expected to reach USD 996.8 Million at a revenue CAGR of 9.9% in 2021, according to latest analysis by Emergen Research. Steady market revenue growth of medical composites can be attributed to increasing demand for composites in prosthetics. Fiber-reinforced polymer plastic (FRP) composites find widespread use in the medical industry owing to their lightweight, biocompatible, and high-stiffness properties. Medical composites are deployed to manufacture external human body components like prosthetic limbs due to their high fatigue resistance and offering of manufacturing flexibility benefits. Also, the demand for medical composites is increasing due to the chemically inert nature of products like carbon-fiber composites and non-requirement for removing a resorbable composite prosthesis through surgeries, as in the case of metals.

Increasing advancements in technology in the medical sector and growing investment in novel methods, including Rapid Manufacturing (RM) and Rapid Prototyping (RP) are significantly fueling market revenue growth. Fast production of functional parts used in prototype reconstruction substantially impacts innovation speed in the medical sector. Using rapid prototyping, prostheses component sample is created through Computer-Aided Design (CAD) and then these parts are produced using rapid manufacturing in a short interval without deploying any tools from an extensive range of materials, including composites. Growing use of such advanced technologies is expected to increase demand for medical composites.

According to the National Health Service, between September 2022 and August 2021, 40.3 million imaging diagnostic operations were reported in England. 3.22 million image diagnostic operations were claimed to have occurred in August 2021. Plain radiography was the most frequent in August 2021, with 1.6 million procedures performed, followed by Diagnostic Ultrasonography (0.72 million), Computerized Axial Tomography (0.49 million), and Magnetic Resonance Imaging (0.29 million). Increase in demand for diagnostic operations is driving revenue growth of the medical composites market.

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Some Key Highlights from the Report

The ceramic fiber composites segment accounted for a moderate revenue share in 2021. Carbon fiber composites are used as implant materials for bone and cartilage to facilitate the biological restoration of damaged tissues. This sort of substance encourages creation of new cells between individual fibers, hence facilitating proper repair. In addition, these materials are safer as implant materials due to their low tissue adherence and biological inertness. Compared to metals, carbon-fiber-reinforced PEEK implants have a lower elasticity modulus that is comparable to that of bone and superior fatigue strength.

The diagnostic segment revenue is expected to register a fast revenue growth rate over the forecast period. Medical imaging enables physicians to comprehend the disorders within the human body and make better decisions. With the exception of contrast material, medical imaging procedures are completely painless, non-invasive, and do not require any additional preparation. In some instances, such as breast cancer, medical imaging can save lives with early detection and proper treatment.

The hospital segment revenue is expected to register a steady revenue growth rate over the forecast period. Carbon fiber is now utilized in medical treatment. It improves the lives of a variety of patients by facilitating their recovery from injuries and return to normal life. The fact that carbon fiber is radiolucent, which is essential for medical imaging, is one of its many benefits. This suggests that the radiation can pass through a carbon-fiber bed to provide crisper images. Hospitals frequently employ carbon fibers for this purpose.

The medical composites market in North America accounted for the largest revenue share in 2021, attributed to increased adoption of advanced technologies in the medical sector, increasing investments in research & development, and high healthcare expenditure. Additionally, the presence of leading market players such as Dentsply Sirona is causative of market revenue growth in the region.

The prominent manufacturers operating in the market are Dentsply Sirona, Toray Industries Inc., Royal DSM NV, IDI Composites International, The 3M Company, SGL Carbon, Vermont Composites Inc., CeramTec GmbH, Icotec AG, Kyocera Corporation, ACP Composites Inc., and CoorsTek Inc.

They have adopted various strategies, such as new product launches, mergers & acquisitions, expansions, partnerships, joint ventures, and others to strengthen their position in the market.

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The report studies the types and applications of the global Medical Composites market. The report categorizes the Medical Composites industry into different types covering different products supplied in the Medical Composites market. Each type is briefly described in the report such that why it is used, the main sources, the production costs, and the processing involved in it. Depending upon various applications of the products and services in the market, the Medical Composites market is categorized in the following non-exhaustive list of products. The application segment is anticipated to grow rapidly shortly due to its unique features and solutions, other crucial information about the types and applications is given in the report.

Emergen Research has segmented the global medical composites market on the basis of product type, application, end-use, and region:

Product Type Outlook (Revenue, USD Million; 2019–2030)

Application Outlook (Revenue, USD Million; 2019–2030)

End-use Outlook (Revenue, USD Million; 2019–2030)

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Leading businesses who are looking for new sources of income will find this research to be quite helpful in understanding the market and its underlying dynamics. It will be helpful for businesses looking to diversify into new markets or increase the scope of their current operations.

How will this Report Benefit you?

A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Medical Composites market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Medical Composites with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.

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What Questions Should You Ask before Buying a Market Research Report?

• How is the Medical Composites market evolving?

• What is driving and restraining the Medical Composites market?

• How will each Medical Composites submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?

• How will the market shares for each Medical Composites submarket develop from 2022 to 2030?

• What will be the main driver for the overall market from 2022 to 2030?

• Will leading Medical Composites markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?

• How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?

• Who are the leading players and what are their prospects over the forecast period?

Thank you for reading our report. Customization of the report is available according to the requirements of clients. In case of further queries about the report, do get in touch with us. Our team will make sure your report is tailored according to your needs.

Look Over transcripts provided by Emergen Research:

https://www.biospace.com/article/urgent-care-apps-market-size-is-expected-to-reach-usd-7-931-1-million-by-2030-industry-trend-rise-in-adoption-of-internet-of-things-iot-for-high-quality-healthcare-outcomes/

https://www.biospace.com/article/virtual-diagnostics-market-size-to-be-valued-at-usd-1-512-2-million-by-2030-industry-trends-rise-in-the-level-of-awareness/

https://www.biospace.com/article/prefilled-syringes-market-size-to-be-worth-usd-9-11-billion-by-2030-industry-trends-increasing-demand-for-prefilled-syringes-in-covid-19-vaccines/

AI-Enabled Medical Imaging Solutions Market

https://www.biospace.com/article/ai-enabled-medical-imaging-solutions-market-to-reach-usd-4-720-6-million-by-2030-growing-at-a-cagr-of-31-3-percent-says-emergen-research/

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitor

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