Changing Mindset toward COVID-19 Accelerating Market Growth
Efforts are being made to locally and globally collaborate in order to address industry issues during the ongoing COVID-19 pandemic. Companies in the medical composites market are expecting flattening of the curve with the emergence of various treatment options and vaccines. As such, the reopening of factories and full capacity production activities are estimated to replenish economic growth in the medical composites market. The trend of virtual events and webinars is also growing at a rapid pace.
The mindset pertaining to COVID-19 is gradually changing. This is encouraging onsite visits to hospitals and other healthcare facilities. As such, manufacturers are trying to maintain robust supply chains, since healthcare falls under the list of essential industries worldwide. However, supply chain disruptions are anticipated to cause a slowdown in business activities. Hence, manufacturers are focusing on mission critical applications to establish stable revenue streams during the pandemic.
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Biodegradability, Easy Manufacturability of Composite Biomaterials Gain Prominence in Cardiovascular Applications
Fiber reinforced polymer composites (FRPs) are finding several applications in the medical sector. However, manufacturers in the medical composites market need to understand the pros and cons of every material to meet the demanding needs of end users. For instance, composite biomaterials such as metal and polymer matrix composites are serving as better alternatives to stents made from stainless steel, titanium, and magnesium alloys, among others. Manufacturers should capitalize on such opportunities, as the high prevalence of cardiovascular diseases is triggering the demand for composite biomaterials.
The medical composites market is projected to advance at a robust CAGR of ~9% during the assessment period. Currently, North America dictates the highest share among all regions of the market in terms of output. Low cost, biodegradability, and easy manufacturability of composite biomaterials are grabbing the attention of healthcare companies.
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FRPs Deliver Flexibility in Manufacturing of Artificial Limbs
FRPs are gaining importance for their high strength, lightweight, and biocompatibility advantages. FRPs are being used to manufacture artificial limbs in order to provide fatigue resistance. The flexibility in manufacturing with the help of FRPs is being highly preferred by manufacturers in the medical composites market. This explains why the medical composites market is predicted to cross the value mark of US$ 500 Mn by the end of 2030. Chemical inertness of carbon fiber is helping manufacturers to establish stable revenue streams, as this material is gaining popularity in surgical applications.
Carbon fiber is replacing metallic and polymeric materials in surgical applications. Recent developments in carbon fiber involve its use in load carrying links in joint mechanisms of artificial limbs. Companies in the medical composites market are increasing their output capacities in carbon composites that are being implanted into cartilage to promote biological resurfacing of damaged areas.
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Carbon Composites Offer Strength to Materials Used in Medical Imaging
Carbon composites deploy an open weave structure to promote cell growth along and between individual fibers resulting in a suitable repair. Companies in the medical composites market are boosting their production of carbon fiber tows that can be used either individually or in plaits in order to repair damaged ligament. It has been found that the chemical properties of bone repair materials made from self-curing acrylic can be enhanced with the addition of carbon fibers. Carbon fibers are associated with high tensile, compressive, shear strength of materials. This is helping to commercialize carbon fibers in materials for wider clinical use.
The carbon fiber reinforced polymer (CFRP) is gaining increased visibility in the medical technology. Composites United— a specialist in high-performance fiber composite technology is expanding its business in X-ray and other medical imaging applications.
CFRP Being Used in Spreaders and Components of Surgical Procedures
CFRP is being highly publicized for its X-ray transparency and rigidity, as x-rays are hardly absorbed by CFRP. Manufacturers in the medical composites market are boosting their production of carbon fiber composites, since they are suitable for components of CT systems and particle accelerators. The high transmissivity advantage of CFRP creates no effects that could impair imaging. The high temperature sterilization of CFRP is being preferred in medical imaging applications.
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