Medical Carbon Composites Market Pegged for Robust Expansion by 2026

The Medical Carbon Composites Market is segmented by Application Type (Operating & Diagnostic Tables, Bone Implants, Prosthetics & Orthotics, and Surgical Seals), Process Type (Prepreg Layup and Others), End-User Type (Hospitals, Ambulatory Surgical Centers, and Others), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).

What are medical carbon composites?

In the technology-intensive industries, such as space and aeronautical engineering, the performance to weight ratio plays a vital role; thus, the high cost associated with testing the design and manufacturing process are acceptable even if the gain may appear to be small. However, in mass production and less critical applications such as automotive parts, sporting goods, and boats, a marginal improvement in performance is usually not very important. Thus, it can be said that the cost spent on optimizing the product is modest, while efforts are spent on rationalizing the manufacturing. The first experiment with carbon fiber in the medical industry was made in the mid-1960s. However, the high cost associated with the material and manufacturing process restricted its commercial usage till the 21st century. After years of research and development, this innovative material able to secure a small space in the medical devices industry. With advancements in manufacturing processes and materials’ cost optimization, currently, carbon composites are preferably used in applications such as operating tables, diagnostic tabletops, bone implants, prosthetics, orthotics, and surgical seals. Carbon composites play a crucial role in medical devices as the material provides radiolucency, excellent strength-to-weight ratio, and corrosion resistance.

Regional Insights

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 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.

Key Players

The supply chain of this market comprises raw material suppliers, medical carbon composite component manufacturers, distributors, OEMs, and end-users.

The key medical carbon composite component manufacturers include-

• Össur
• Ottobock SE & Co. KGaA
• Fillauer LLC
• Steeper Inc.
• Getinge Group
• Steris Corporation
• HillRom
• Composite Horizons
• Stille AB
• Skytron LLC
• Mizuho Medical Co. Ltd.

The medical carbon composites market is slowly heading towards consolidation as major players are acquiring other players to strengthen their position in the market. For instance, in 2020, Steeper Group completed the acquisition of the Espire Elbow prostheses range from College Park Industries, enhancing its product portfolio. Similarly, the acquisition of Therapeutic Recreational Systems by Fillauer in order to enhance its customer base in 2019. Also, in 2017, Ottobock acquired the BeBionic prosthetic products and related business from the British med-tech company Steeper to strengthen its position as a market leader in the upper limb prosthetic solutions. Further, the acquisition of Touch Bionics and Medi Prosthetics by Össur in 2015 and 2016, highlights the ongoing consolidation in the market.

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Article source: https://article-realm.com/article/Finance/36294-Medical-Carbon-Composites-Market-Pegged-for-Robust-Expansion-by-2026.html