New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Composites Global Market Report 2023" - https://www.reportlinker.com/p06433436/?utm_source=GNW
, Kulzer GmbH, Kaman Corporation, Den-Mat Holdings LLC, Ivoclar Vivadent Inc., Tokuyama Dental Corporation Inc., Quantum Composites Inc., Teijin Limited, Dental Technologies Inc
The global medical composites market grew from $1.14 billion in 2022 to $1.28 billion in 2023 at a compound annual growth rate (CAGR) of 12.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical composites market is expected to grow to $2 billion in 2027 at a CAGR of 11.8%.
The medical composites market consists of sales of polymer matrix composites, carbon matrix composites, metal matrix composites, and ceramic matrix composites.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Medical composites refer to a combination of two or more materials that are distinctive from each other in terms of physical and chemical properties. The medical composites are used in diagnostic imaging, biological resurfacing of damaged areas, surgical applications, and dental implants.
North America was the largest region in the medical composites market in 2022. The regions covered in this medical composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of medical composites are carbon fiber, ceramic fiber, and other fiber types.Ceramic fibers are small-dimension filament or thread composed of a ceramic material, usually alumina and silica, used in lightweight units for electrical, thermal, and sound insulation.
The process used are wet lamination, prepreg, and other processes. The various applications involved diagnostic imaging, composite body implants, surgical instruments, dental, and other applications.
Increasing demand for medical composites from the healthcare sector is expected to propel the growth of the medical composites market going forward.The healthcare sector is consisting of businesses that provide medical and clinical services, the development of medical devices and medicines, and medical insurance for the treatment of patients’ diseases.
The demand for medical composites in the healthcare sector is increasing due to the rising need for medical instruments.For instance, in 2020, The Observatory of Economic Complexity (OEC), a Brazil-based data visualization and distribution platform that provides economic activities of the world, the total production trade value of medical instruments was $133 billion across the globe in the world.
Therefore, the increasing demand for medical composites from the healthcare sector is driving the growth of the medical composites market.
Technological advancements are a key trend gaining popularity in the medical composite market.Major companies operating in the medical composites market are focused on developing new technological solutions to strengthen their position.
For instance, in February 2022, Nobio, an Israel-based company operating in medical composites launched Infinix, a brand-new collection of advanced antimicrobial restorative materials created to combat recurring deterioration.Nobio’s new QASi™ antimicrobial particle technology is a part of the infinix system used in the universal and flowable composites and the universal bonding system.
The new restorative materials with QASi™ antimicrobial particle technology is utilized for preventing tooth demineralization, providing long-lasting bacterial inhibition at the restorative margins, and decreasing restoration failure because of secondary caries.
In June 2021, The Gund Company Inc., a USA-based manufacturing company specializing in engineered material solutions acquired Power & Composite Technologies, LLC for an undisclosed amount. This acquisition would help The Gund Company to increase its product portfolio in medical composites and material solutions for medical devices. Power & Composite Technologies, LLC is a US-based company operating in medical composites.
The countries covered in the medical composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The medical composites market research report is one of a series of new reports that provides medical composites market statistics, including medical composites industry global market size, regional shares, competitors with a medical composites market share, detailed medical composites market segments, market trends and opportunities, and any further data you may need to thrive in the medical composites industry. This medical composites market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433436/?utm_source=GNW
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