Medical Composites Market

Capacity Expansion and Increasing R&D Activities to give a Boost to the Medical Composites Market during the forecast period

Medical composites are used in a variety of applications including diagnostic imaging, composite body implants, surgical instruments, dental, and others. Composite reduces the weight of medical devices, increases strength and radiolucency of the component. However, amidst the global COVID-19 pandemic, the demand for medical composites from the applications mentioned above is expected to show a decline. The global medical composites market size is expected to grow from USD 922 million in 2020 to USD 1,478 million by 2025, at a CAGR of 9.9 % during the forecast period.

Over the past years, medical composites manufacturers have strengthened their position in the global medical composites market by adopting expansions, partnerships, agreements, new product/technology launches, and mergers & acquisitions. R&D activities ongoing in the industry to make medical composites commercialize and create cost-effective manufacturing technology for medical composites. The growing R&D activities are expected to drive the medical composites market during the forecasted period.

The major manufacturers profiled in this report include 3M (US), Toray Industries, Inc. (Japan), CeramTec GmbH (Germany), Dentsply Sirona (US), Royal DSM N.V. (Netherlands), and SGL Carbon (Germany). These companies are focused on increasing production capacities and developing innovative medical composites-based products for various end-use industries. The growing applications of medical composites in various applications are expected to drive the market during the forecasted period.

To know about the assumptions considered for the study download the pdf brochure

3M is a technology company, which manufactures industrial, safety, and consumer products. The company operates through four business units: safety and industrial; transportation & electronics; health care; and consumers. 3M offers a wide range of products for the healthcare industry in the infection prevention, critical and chronic care, healthcare information systems, dental, orthodontic (oral care), drug delivery systems, food safety, and medical device components categories. The health care business segment offers dental composite products.

Toray Industries Inc. is a multinational corporation that specializes in industrial products involving technologies in organic chemistry, polymer chemistry, and biochemistry. The company operates its business through six main segments, namely, fibers & textiles, performance chemicals, carbon fiber composite materials, environment & engineering, life science, and others. The company offers medical composite products through its subsidiary, Toray Medical Co. Ltd., (Tokyo Japan). The company focuses on organic and inorganic strategies for its business expansion. For instance, in March 2018, Toray Industries Inc. acquired TenCate Advanced Composites, a composites division of TenCate BV, for USD 1,091 million. This acquisition has helped the company to increase its market position in the carbon fiber composites market in various end-use industries, including medical.

Related Reports:

Medical Composites Market by Fiber Type(Carbon and Ceramic), Application (Diagnostic Imaging, Composite Body Implants, Surgical Instruments, and Dental), and Region (Europe, North America, APAC, Latin America, and MEA) - Global Forecast to 2025

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
CH 4711
RI Published ON
4/14/2021
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Medical Composites Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2021 MarketsandMarkets Research Private Ltd. All rights reserved