Medical Composites Market is Forecasted to Reach US$ 845 Million in 2030, Says Stratview Research

/EIN News/ -- Detroit, March 20, 2025 (GLOBE NEWSWIRE) -- The global medical composites market is projected to witness a growth rate of 6.8% annually from 2024 to 2030, with an anticipated size of US$ 845 million by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global medical composites market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:

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Report Highlights

Market Size in 2030 (million US$)	845
Growth (CAGR)	6.8% during 2024-2030
Forecast Period	2024-2030
Trend Period	2018-2022
Base Year	2023
Number of Segments Covered	5
Number of Tables & Graphs	100+
Country-Level Market Assessment	20

Segment Insights on the Medical Composites Market:

The global medical composites market is segmented based on fiber type, application type, process type, end-user type, and region.

Based on fiber type – The market is segmented into carbon fiber composites, glass fiber composites, and others. Carbon fiber composites are expected to remain dominant as well as the fastest-growing fiber type during the forecast period. Key advantages to using carbon fiber are its strength, low weight, high-temperature tolerance, and chemical resistance. One of the most significant uses of carbon fiber in the medical industry is the production of prosthetics. The flexibility of carbon fiber allows for custom-made medical implants. Medical equipment manufacturers and professionals can now create carbon fiber medical devices for individual needs. Carbon fiber’s valuable combination of high tensile strength and low weight, makes it suitable to make various demanding medical devices that need to be both lightweight and strong. Other than that, its non-magnetic qualities reduce interference with any diagnostic imaging that requires magnetic resonance imaging (MRI) or other sensitive technology.

Based on application type – The market is segmented into operating & diagnostic tables, medical robots, bone implants, prosthetics & orthotics, surgical seals, and others. Prosthetics is expected to grab the biggest chunk of the market, whereas medical robots are likely to be the fastest-growing application during the forecast period. Composites offer a myriad of advantages in prosthetics & orthotics applications namely, strength-to-weight ratio, durability, flexibility, corrosion and fatigue resistance, and aesthetic appeal. Composites are being used for prosthetic limbs, prosthetic feet & ankles, prosthetic braces and supports, etc. The key prerequisites for wearable robotics are strength, stiffness, and lightweight. Composites are likely to play a crucial role in establishing these needs in the coming time. Smart composites and hybrid soft-foldable technologies for minimally invasive surgical robots are some revolutionary application areas in the field.

Based on end-user type – The market is segmented into hospitals, ambulatory centers, and others. Hospitals are anticipated to generate the highest demand for composites during the forecast period. The high budget of such establishments, as well as larger patient footfall, attributed to the largest share. A surge in patient preference towards ambulatory surgical centers in the North American and European markets will boost the segment’s growth over the foreseeable future.

To know the most attractive segments, click here for a free sample of the report:

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Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that North America is expected to remain the largest market for medical composites till 2030. This growth outlook is majorly attributed to the following:

• Higher adoption of advanced technology, well-developed healthcare infrastructure, and huge healthcare expenditure in the North American region enable higher demand.
• In terms of countries, the USA is expected to assert an unmatched dominance in the market during the forecast period.
• According to the Centers for Medicare and Medicaid Services (CMS), Office of the Actuary, National Health Statistics Group, and Department of Commerce, healthcare spending in the USA is projected to have grown 7.5% in 2023, which was faster than the nominal gross domestic product (GDP) growth rate of 6.1% (National Health Expenditure in 2023: US$ 4,799 Billion and in 2030: US$ 7,705 Billion).

Likewise, rapid improvement in healthcare infrastructure in key economies such as India and China along with rising healthcare expenditure in Asia-Pacific is likely to drive the region’s long-term growth. According to the WTW Global Medical Trends Survey, the average cost of medical care in Asia-Pacific jumped from 7.2% in 2022 to 9.9% in 2023.

Medical Composites Market Drivers:

Some of the key drivers listed in the report are given below.

• Incessant demand from diagnostic imaging applications.
• The prevalent, uncompromising need for lightweight materials and the increasing demand for radiolucent materials.
• Further, regulatory approval for medical devices from agencies such as the FDA may augment the market growth.

Top Companies in the Medical Composites Market:

The market is highly consolidated with the presence of a handful number of players globally. Most of the major players invest heavily in R&D to stay ahead of the competition etc. Stratview Research has identified the following companies as the top market players.

• Össur
• Ottobock SE & Co. KGaA
• Hanger, Inc. (Fillauer LLC)
• Getinge Group
• Steris Corporation
• Baxter International Inc. (HillRom)
• Stryker Corporation
• Composite Horizons
• Stille AB
• Skytron LLC
• Mizuho Medical Co. Ltd.

What Deliverables Will You Get in this Report?

Key questions this report answers	Relevant contents in the report
How big is the sales opportunity?	In-depth analysis of the Medical Composites Market
How lucrative is the future?	Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?	Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?	Market segment analysis and forecast
Who are the top players and their market positioning?	Competitive landscape analysis, Market share analysis
How complex is the business environment?	Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?	Drivers & challenges
Will I get the information on my specific requirements?	10% free customization

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:

• Medical Carbon Composites Market
• Prosthetic Composites Market

About us:

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

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