Medical Composite Material for Orthopedics Market Overview:
Medical Composite Material for Orthopedics are used instead of plastics, steel and aluminium for the manufacture of personalized and complex products, such as prosthetics, advanced orthopaedic devices and body implants. These materials are also used in dental applications such as natural tooth fillings and restoration. Composite materials have applications in implants, surgeries, artificial limbs, diagnostics and instrument materials. Medical compounds are mainly used in diagnostic imaging systems, patient image tables and accessories used in PET imaging, X-ray, computed tomography and magnetic resonance imaging systems. Medical Composite Material for Orthopedics Market are formed by mixing two or more components and provide superior performance to each component. Some of the main advantages of Medical Composite Material for Orthopedics are excellent resistance to fatigue, high strength-to-weight ratio, good impact resistance, corrosion resistance and malleability. Attributed to these properties, the medical sector prefers materials of plastic, steel and aluminium for the production of personalized and complex products. End users of medical compounds include pharmaceutical companies, medical device manufacturers, research centres and imaging centres.
The Medical Composite Material for Orthopedics Market was valued at USD XX million in 2017 and projected to reach USD XX million by 2021 growing at a CAGR of XX% during the forecast period 2017 to 2021.
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Drivers and Restraints:
The increasing use of diagnostic imaging technologies, such as scanners and X-rays in the medical sector, has stimulated the development of light, radiolucent and biocompatible compounds. These compounds help to reduce the weight of the instruments and provide a better position to the patient during the treatment. It is expected that the demand for composite materials will be stimulated by technological advances in dental materials, where the use of composite materials is increasing. Advances in technology and the increasing use of composite materials in medical applications, such as diagnostics, implants, medical equipment and accessories are other key factors likely to enhance the growth of the medical composites material market. Instances of dental issues are increasing rapidly across the globe, which is causing a surge in the demand for dental composite materials. This increase in the number of dental patients has made the dental sector a growing segment of applications in the market. It is expected that frequent changes in consumer preferences and intense competition among manufacturers of existing medical compounds will hamper the growth of the market. Fluctuations in commodity prices could delay the growth of the medical composite market.
It is expected that developing markets, such as Latin America, Asia-Pacific and Africa and the Middle East, will grow strongly during the forecast period due to the ageing population and growth of the healthcare sectors in these regions. Brazil, China and India are expected to experience sustained growth, thanks to continued investments by government agencies to improve healthcare facilities. Europe may dominate the market for Medical Composite Material for Orthopedics Market, due to the increased use of Medical Composite Material for Orthopedics Market in biomedical applications, such as implant components, imaging and prosthetics. North America is expected to be the leader in terms of consumption of fibreglass and natural fibre Medical Composite Material for Orthopedics Market. This can be attributed to the growing number of manufacturing industries in the region. The market is also expected to grow rapidly due to the increasing use of these materials in dental applications. The Asia-Pacific region, particularly India and China, is expected to experience significant growth in the market, as a result of increased research and development focused on instruments and devices that use composite materials for diagnosis and treatment of various diseases.
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Key Players of Medical Composite Material for Orthopedics Market
The key players in the Medical Composite Material for Orthopedics market are 3M, DSM, Polygone Composites, PolyOne, Quatro Composites, TenCate, and Toray.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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