Steady Growth Predicted for Medical Composite Materials Market
Growing awareness among manufacturers about the many benefits of medical composite materials has propelled the global market.
Growing awareness among manufacturers about the many benefits of medical composite materials has propelled the global market, which is predicted to exhibit a compound annual growth rate (CAGR) of 6.91% from 2016-2020, according to a recent report from Market Business Research. The emergence of lightweight and heat-resistant composites reportedly has driven the global market for medical composite materials in the last few years. The growing use of nanofibers in soft tissue implants is predicted to benefit the global medical composite materials market. However, the market is predicted to be challenged by the product differentiation of medical composites.
As fiber composite materials offer good external impact resistance, they are increasingly being used for manufacturing numerous components, including implants and prosthetics. Medical composite materials find application in diagnostic imaging, orthopedics, dental care, microspheres, and needles and syringes. The rising application of medical composite materials in diverse sectors is expected to benefit the global market throughout the forecast period.
The number of people facing dental issues is expanding rapidly across the globe, creating more demand for dental composite materials. The rising number of dental patients has made the dental care segment one of the fastest-growing application segments of the medical composite materials market.
The introduction of new product offerings by key companies is predicted to make the global market competitive for the new entrants. Technological changes and improvements in research and development activities have helped organizations in manufacturing new medical composite materials. By introducing lightweight composites, new entrants are anticipated to give tough competition to the key players operating in the market.
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