A new report has been published by Stratview Research, titled, “Medical Composites Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021–2026.” The experts authoring this report have made an effort at providing in-depth information on leading growth drivers, restrictions, challenges, current and upcoming trends, and opportunities to offer a comprehensive assessment of the global Medical Composites Market. Users can use the analysis included in this report to plan effective growth strategies and prepare for future challenges beforehand.
Market segmentation has been done correctly to help the users define and better understand their target audiences and ideal customers. Market segmentation in this report allows you to identify the right market for your products and then target your marketing more effectively.
Covid-19 impact on the Medical Composites Market –
As the novel coronavirus (COVID-19) crisis takes over the world, our team of market analysts is continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and their estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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By Fiber Type
Based on the fiber type, the market is segmented as carbon fiber composites, glass fiber composites, and other composites. Carbon fiber is likely to remain the most dominant fiber type in the market during the forecast period due to rising adoption in radiolucent operating tables, lower limb prosthetics, bone implants, and orthotics. Glass fiber is expected to be the second-largest segment owing to growing utility in prosthetics, orthotics, and tissue engineering.
By Application Type
The market is further segmented based on application type as operating & diagnostic tables, bone implants, prosthetics & orthotics, surgical seals, and others. The Operating & diagnostic tables segment is expected to remain the most dominant application type in the coming five years, owing to the growing adoption of such tables in hybrid ORs (operating rooms) as they offer 360-degree radiolucency coupled with increasing adoption of carbon composite tabletops. Prosthetics & orthotics segment is expected to remain the second-largest application type over the same period, driven by composites’ excellent strength-to-weight ratio and corrosion resistance.
By End-User Type
The medical composites market is also segmented based on end-user type into hospitals, ambulatory surgical centers, and others. Hospital held the largest share of the market in 2020 and is expected to maintain its position during the forecast period as well. 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.
In terms of region, North America accounted for the largest share of the global medical composites market in 2020. The region is also expected to maintain its dominance over the forecast period, owing to higher adoption of advanced technology, well-developed healthcare infrastructure, and huge healthcare expenditure. Asia-pacific is expected to be the fastest-growing market, owing to the rapid improvement in healthcare infrastructure in key economies such as India and China along with rising healthcare expenditure in the region.
Relying on data to make business decisions and to have a competitive advantage, is a critical aspect every key player needs to be familiar with. The report throws light on the competitive scenario of the global Medical Composites Market along with a list of Key players.
Here are few –Össur Ottobock SE & Co. KGaA Fillauer LLC Getinge Group Steris Corporation HillRom Stryker Corporation Composite Horizons Stille AB Skytron LLC Mizuho Medical Co. Ltd.
Report Features –
This market report includes the following features –Market structure: Overview, industry life cycle analysis, supply chain analysis. Market environment analysis: Growth drivers and constraints. Market trend and forecast analysis. Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, M&As etc. Attractive market segments and associated growth opportunities. Emerging trends.
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About Stratview Research –
Stratview Research is a leading market research firm that offers wide range of services like syndicated market reports, consulting, sourcing intelligence, and customer research, etc. Stratview Research’s offerings include comprehensive market intelligence in the form of research reports, and consulting services. Our team which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 500 companies.