LONDON–(BUSINESS WIRE)–Technavio analysts forecast the global medical composite materials market to grow at a CAGR of almost 7% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global medical composite materials market for 2016-2020. The report presents the vendor landscape and a corresponding detailed analysis of the major vendors operating in the market.

North America: major consumer of natural and glass fiber medical composite materials

Chandrakumar Badala Jaganathan, one of the lead metals and minerals research analysts at Technavio says, “The medical composite materials market in North America was valued at USD 1.77 billion in 2015, and this will reach USD 2.42 billion by 2020, growing at a CAGR of 6.46%. North America is the leader in terms of consumption of natural fiber and glass fiber medical composite materials owing to the rising number of manufacturing industries in the region. The medical composite materials market in this region will grow rapidly during the forecast period due to the rising use of these materials for dental applications.”

Technavio chemicals and materials analysts highlight the following three factors that are contributing to the growth of the global medical composite materials market:

• Emergence of lightweight and heat-resistant composites
• Increased use of fiber reinforced composites
• Evolution of novel materials

Emergence of lightweight and heat-resistant composites

Polymer composites are lightweight and heat resistant, and hence can be used as alternatives to metals and alloys. Polymer matrix composites have been used in the manufacture of medical prostheses and implants over the last decade. These composites are divided into reinforced plastics and advanced composites. Advanced composites contain approximately 60% of resistant continuous fibers made of carbon, glass, or aramid materials.

They are increasingly being used in medical equipment such as surgical instruments, orthopedic products, and biocompatible implants. These materials are preferred over metals like aluminum, stainless steel, and titanium because they offer the following advantages:

• Lightweight
• Heat resistant
• Anisotropic
• Easy customization
• Non-allergic
• X-ray translucent

Increased use of fiber reinforced composites

Vendors are focusing on the use of polymer composite materials for the development of modern orthopedic and prosthetic devices owing to benefits such as heat resistance. The strength-to-weight ratio and biocompatibility of these composites are high compared to those of monolithic materials. These features have led to their increased use in the design of prostheses for both hard- and soft-tissue applications.

“Innovative technologies such as porous composite materials for tissue engineering, functional coatings for metallic implants, and sensory feedback systems will be introduced in the market during the forecast period. The development of products like customized carbon-fiber sports prostheses allows people with lower-limb amputation to participate in competitive sports. Carbon fiber composites are used in implantable medical devices and surgical seals. They are implanted into cartilages to stimulate the resurfacing of damaged areas owing to their radiolucency and high strength-to-weight ratio,” adds Chandrakumar

Evolution of novel materials

Novel materials are said to possess unique properties that are widely used in different industries such as medicine, micro-electronics and other fields. These novel materials are plastics, metals, and ceramics. The expansion of the global medical market has led to product innovations and consumer acceptance of devices such as pacemakers. Technavio analysts expect the global medical devices market to account for USD 400 billion by the end of 2020.

For instance, the evolution of innovative composite materials eliminates the use of donor bone tissues in bone grafting surgeries, thus reducing pain and infection involved with the process. Innovative medical composite materials such as polymer ceramic, fiber, and polymer metal composites offer the following benefits:

• Lightweight
• Chemical resistance
• Rigidity
• Corrosion resistance
• Low maintenance

Top vendor offerings:

Source: Technavio

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