The Medical Carbon Composites Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and prospect from the year 2021 to 2026. It also offers an accurate overview of the growth strategies, market size, mergers & acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data to offer reliable data to the users. The present report mentions that the Medical Carbon Composites Market is likely to grow at a lucrative rate over the next five years to reach a value of US$ 440 million in 2026. Government initiatives, such as customs duty exemption on medical devices, growth in regulatory approvals of medical devices, upcoming Tokyo Paralympics 2021, and product innovations, are likely to act as the major growth drivers of the market.
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Market Segments' Analysis
According to Stratview Research, the Medical Carbon Composites Market is segmented by Application Type (Operating & Diagnostic Tables, Bone Implants, Prosthetics & Orthotics, and Surgical Seals), by Process Type (Prepreg Layup and Others), by End-User Type (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Based on the application type, the medical carbon composites market is segmented as operating & diagnostic tables, bone implants, prosthetics & orthotics, and surgical seals. The operating & diagnostic tables segment is expected to remain the dominant one during the forecast period as carbon composite tabletop offers a 360-degree radiolucency. The market is witnessing an increased number of new product launches. For instance, in 2020, Hillrom launched PST 500 and PST 300 precision surgical tables that offer 360-degree radiolucency coupled with the capability of handling general surgery, orthopedics, and neurosurgery. The prosthetics & orthotics segment is estimated to be the second-largest application by 2026, driven by an increasing acceptance of lower limb prosthetics and orthotics.
Based on the process type, the medical carbon composites market is segmented as prepreg layup and other processes. Prepreg layup is likely to remain the dominant process in the market during the forecast period. Prepreg is the preferred choice for manufacturing operating tables and diagnostic tabletops. Other processes predominantly include wet lamination, another highly preferred process for the fabrication of lower limb prosthetics and orthotics.
Which region is expected to dominate the market?
In terms of region, North America is expected to maintain its supremacy in the global medical carbon composites market by 2026. The USA and Canada are the growth engines of the North American market. Higher adoption of advanced technology, well-developed healthcare infrastructure, greater penetration of advanced composites, and high healthcare expenditure is attributed to the highest share of the region. Asia-pacific is expected to be the fastest-growing market in years to come, owing to the rapid improvement in healthcare infrastructure in developing economies such as India and China along with rising healthcare expenditure.
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Top key vendors in the market:
The report mentions a list of key players in the Medical Carbon Composites Market. Some of them are mentioned below –
- Össur
- Ottobock SE & Co. KGaA
- Fillauer LLC
- Steeper Inc.
- Getinge Group
- Steris Corporation
- HillRom
- Composite Horizons
- Stille AB
- Skytron LLC
- Mizuho Medical Co. Ltd.
Key Questions Answered in The Report:
- Which region will show higher and more rapid growth?
- Who are the top key players in the Medical Carbon Composites Market?
- How will the market change in the upcoming five years?
- What was the impact of Covid19 on the market?
- Which application/ service/product will take a lion's share of the market?
- What are the market drivers and constraints?
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