Medical Composites Market Worth 934.7 Million USD by 2021
PUNE, India, November 7, 2016 /PRNewswire/ --
The report "Medical Composites Market by Fiber Type (Carbon, Ceramic, Glass Fiber), Application (Diagnostic Imaging, Composites Body Implants, Surgical Instruments, Dental, Microsphere, Tissue Engineering) - Global Forecast to 2021", published by MarketsandMarkets, the market is projected to reach USD 934.7 Million by 2021, registering a CAGR of 7.10% between 2016 and 2021.
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Browse 68 market data Tables and 43 Figures spread through 127 Pages and in-depth TOC on "Medical Composites Market"
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The increasing use diagnosing imaging technologies such as X-ray, CT-scan in the medical industry have enhanced the development of radiolucent, light weight, and bio-compatible composites materials. These composites help in reducing weight of the instruments and provide better positioning for patient in treatment. The demand for composites is further driven by technological advancement in dental materials where use of composites is increasing.
Carbon fiber composites accounts for major share of the medical composites market
Carbon fiber composites have the highest market share in the overall medical composites market owing to their wide usage in diagnostic imaging components, prosthetic & composites implants, and surgical instruments. This is backed by their superior physical and mechanical properties such as strength, radiolucency, bio-compatibility, lightweight, and resistance to corrosion, temperature, and moisture.
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Diagnostic imaging is the largest application segment of the medical composites market
Medical composites find high usage in the diagnostic imaging components manufacturing industry with a share of 46% of the overall Medical Composites Market. These composites products find applications in patient imaging tables and accessories used in X-ray, MRI, PET, and CT imaging systems. Use of medical composites lowers the weight of instrument, offers better positioning for patient, and helps in generating clearer images. These factors increase the demand for composites parts in medical instruments.
Europe accounts for the major share of the global medical composites market
Europe accounts for the largest share of the global medical composites market owing to high demand from diagnostic imaging components and composite implants & prostatic applications. In recent years, there have been great technological advancements as well as wider acceptance of the use of composites materials in orthotics, prosthetics, and imaging support equipment. This will drive the medical composites market in the coming years.
Some of the key global players of the medical composites market are Toray Industries Inc. (Japan), Quatro Composite LCC (U.S.), ACP Composites, Inc. (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Vermont Composites, Inc. (U.S.), Royal DSM (Netherlands), and others. These players have adopted various organic and inorganic developmental strategies in the past five years to maintain its position in the medical composites market.
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