Aug 21 2015
Technavio has published a new report on the global medical composite material market for orthopedics, which is expected to grow at a CAGR of above 7% from 2015-2019.
About the Report
The latest report by Technavio draws attention towards the extensive use of composite materials in the medical sector, especially in orthotic and prosthetic devices and in components for large-scale MRI equipment. The demand for prosthetics and orthotics is increasing, mostly in the US.
“The number of patients who have lost their limbs due to accident or disease is increasing. This has led to the demand for artificial limbs made from composite materials,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also underlines a new class of composite materials formed through nano technology, which is being used in the field of soft tissue implants.
“Nano fibers are used for various applications in the medical field because of its durability and good adhesive properties. The wide use of nano fibers in soft tissue implants will boost the market growth in the forecast period,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global medical composite material market for orthopedics from 2015-2019. To arrive at the major vendors in the market, the report considers revenue generated by these vendors.
Key Information Covered in the Report:
- Key Vendors:
- Icotec AG
- Polygon Co.
- PolyOne Corp.
- Toray Industries
- Market Growth Drivers:
- Need for Advanced Devices for Orthopedics
- For a full detailed list, view our report.
- Market Challenges:
- Volatility in Raw Material Prices
- For a full detailed list, view our report.
- Market Trends:
- Usage of Nano Fibers in Soft Tissue Implants
- For a full detailed list, view our report.
Technavio currently has more than 3000 market research reports on a huge range of topics, including 200+ reports on the medical devices market:
- Global Medical Device Packaging Market 2014-2018
- Global Medical Devices Market 2014-2018
Source: http://www.technavio.com/