The Medical Composites Market Share, Market Size, And Growth Rate 2022
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The medical composites market is forecasted to achieve notable growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 11%, as per The Business Research Company’s market report!
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The Medical Composites Market Size In 2022 And Forecast
The global medical composites market grow from $1.01 billion in 2021 to $1.13 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The medical composites market is expected to grow to $1.73 billion in 2026 at a CAGR of 11.1%.
The medical composites market consists of sales of medical composites by entities (organizations, sole traders, and partnerships) that are used in diagnostic imaging, biological resurfacing of damaged areas, surgical applications, and dental implants.
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Increase In Demand For Medical Composites From The Healthcare Sector Is Driving The Growth Of The Medical Composites Market
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.
Competitive Landscape And The Regional Analysis Of The Medical Composites Market
Major players in the medical composites market are 3M Company, Toray Industries Inc, SGL Carbon SE, CeramTec GmbH, Composiflex Inc, Dentsply Sirona Inc, Mitsubishi Chemical Holdings Corporation, Avient Corporation, Zeus Industrial Products Inc, Kulzer GmbH, Kaman Corporation, Den-Mat Holdings LLC, Ivoclar Vivadent Inc, Tokuyama Dental Corporation Inc, Quantum Composites Inc, Teijin Limited, Dental Technologies Inc
Additionally, as per TBRC’s research – North America was the largest region in the medical composites market in 2021 holding the largest market share.
The Medical Composites Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the medical composites market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the medical composites market.
Technological Advancement – A Key Trend In The Medical Composites Market
Major companies operating in the medical composites market are focused on developing new technological solutions to strengthen their position.
Medical Composites Market Segmentation By The Business Research Company
1) By Fiber Type: Carbon Fiber, Ceramic Fiber, Other Fiber Types
2) By Process: Wet Lamination, Prepreg, Other Process
3) By Application: Diagnostic Imaging, Composite Body Implants, Surgical Instruments, Dental, Other Applications
Here Are Some Reports Related To The Medical Composites Market –
Biocomposites Global Market Report 2022
Ceramic Matrix Composites Global Market Report 2022
Composites Global Market Report 2022
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