Medical Composite Materials Market by Application, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR71030
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The medical composite materials market has the potential to grow by USD 3.19 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 7.44%.

This medical composite materials market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (diagnostic imaging, orthopedics, needles and syringes, dental, and microsphere), type (fiber composites, polymer-ceramic composites, and polymer-metal composites), and geography (North America, Europe, Asia, and ROW). The medical composite materials market report also offers information on several market vendors, including 3M Co., Avient Corp., Composiflex, Evonik Industries AG, Henkel AG and Co. KGaA, icotec AG, Koninklijke DSM NV, Mitsubishi Chemical Holdings Corp., Polygon Co., and Toray Industries Inc. among others.

What will the Medical Composite Materials Market Size be in 2021?

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Medical Composite Materials Market: Key Drivers and Trends

The increasing demand for lightweight material in the medical industry is notably driving the medical composites market growth, although factors such as fluctuations in raw material prices and high manufacturing costs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the medical composite materials industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The increasing demand for lightweight materials in the medical industry is the primary factor for the medical composites materials market growth.
  • Composites are lightweight and resistant to corrosion; hence, they are a good alternative to metals and alloys.
  • Special composites principally based on carbon fibers have been developed for hospital equipment, surgical instruments, orthopedic products, and biocompatible implants. 
  • The growing emergence of biodegradable composites for medical implants is the key trend positively impacting the medical composite materials market.
  • Due to the growing concern regarding plastic disposal, scientists are developing new biodegradable polymer composite materials from renewable resources which are efficiently used in medical implants. 

This medical composite materials market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Medical Composite Materials Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Avient Corp.
  • Composiflex
  • Evonik Industries AG
  • Henkel AG and Co. KGaA
  • icotec AG
  • Koninklijke DSM NV
  • Mitsubishi Chemical Holdings Corp.
  • Polygon Co.
  • Toray Industries Inc.

 

This statistical study of the medical composite materials market encompasses successful business strategies deployed by the key vendors. The medical composites market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The medical composite materials market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Medical Composite Materials Market?

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33% of the market’s growth will originate from North America during the forecast period. The US is a key market for medical composite materials in North America. Market growth in North America will be faster than the growth of the market in other regions.

The increasing sales of medical devices will facilitate the medical composite materials market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Medical Composite Materials Market?

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The medical composite materials market share growth by the diagnostic imaging segment will be significant during the forecast period. Medical composites form the core of diagnostic imaging systems. Medical composite materials find applications in X-rays, CT scanners, CT/polyethylene terephthalate (PET), nuclear medicine, oncology, and medical equipment modalities.

This report provides an accurate prediction of the contribution of all the segments to the growth of the medical composites market size and actionable market insights on post COVID-19 impact on each segment.

 

Medical Composite Materials Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.44%

Market growth 2021-2025

$ 3.19 billion

Market structure

Fragmented

YoY growth (%)

6.72

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 33%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

3M Co., Avient Corp., Composiflex, Evonik Industries AG, Henkel AG and Co. KGaA, icotec AG, Koninklijke DSM NV, Mitsubishi Chemical Holdings Corp., Polygon Co., and Toray Industries Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Medical Composite Materials Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive medical composite materials market growth during the next five years
  • Precise estimation of the medical composite materials market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the medical composites industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of medical composites market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Diagnostic imaging - Market size and forecast 2020-2025
    • Orthopedics - Market size and forecast 2020-2025
    • Needles and syringes - Market size and forecast 2020-2025
    • Dental - Market size and forecast 2020-2025
    • Microsphere - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • Fiber composites - Market size and forecast 2020-2025
    • Polymer-ceramic composites - Market size and forecast 2020-2025
    • Polymer-metal composites - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • Asia - Market size and forecast 2020-2025
      • ROW - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • 3M Co.
      • Avient Corp.
      • Composiflex
      • Evonik Industries AG
      • Henkel AG and Co. KGaA
      • icotec AG
      • Koninklijke DSM NV
      • Mitsubishi Chemical Holdings Corp.
      • Polygon Co.
      • Toray Industries Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The medical composite materials market growth will increase by $3194.94 million during 2020-2025.
      The medical composite materials market is expected to grow at a CAGR of 7.44% during 2020-2025.
      Technavio has segmented the medical composite materials market by geographic (North America, Europe, Asia, and ROW).
      3M Co., Avient Corp., Composiflex, Evonik Industries AG, Henkel AG and Co. KGaA, icotec AG, Koninklijke DSM NV, Mitsubishi Chemical Holdings Corp., Polygon Co., Toray Industries Inc. are a few of the key vendors in the medical composite materials market.
      North America will register the highest growth rate of 32.59% among the other regions. Therefore, the medical composite materials market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the medical composite materials market growth are:
      • Increasing demand for lightweight material in the medical industry
      The medical composite materials market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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