Medical Composites Market Growth Analysis | 2025-2030

Attractive Opportunities

Global Demand Analysis & Sales Opportunities in Medical Composites Market 

• The annual demand for medical composites was USD 559.5 million in 2024 and is expected to reach USD 595.8 million in 2025, up 6.5% than the value in 2024.
• During the forecast period (2025-2030), the medical composites market is expected to grow at a CAGR of 6.2%. The annual demand will reach USD 803.8 million in 2030.
• During 2025-2030, the medical composites industry is expected to generate a cumulative sales opportunity of USD 4179.5 million.

High-Growth Market Segments: 

• North America generated the highest demand with the largest market share of 45% in 2024.
• By fiber type, Carbon fiber composites are expected to maintain an indubitable dominance in the market.
• By application type, Prosthetics generated the highest demand for composites throughout the study period.
• By process type, Prepreg layup was the most sought-after process in the market and is likely to remain so in the years to come.
• By end-user type, Hospitals to remain the biggest end-user for medical composites by 2030.

Market Statistics 

Have a look at the sales opportunities presented by the medical composites market in terms of growth and market forecast.

Market Dynamics

Introduction:

Over the decades, composites have had a stellar journey. Backed by its range of advantages, the material has established a ubiquitous presence. Composites were first used in medical applications in the early 1970’s and have been rapidly developed and used since then. This revolutionary material can now be used in many prosthetic limbs and orthotics such as splints, insoles, braces, spinal jackets, and helmets. Other applications include knee and hip replacements, catheter tubing, surgical meshes, medical instruments, slow-release pill casings, implants, etc. This progress signifies a technical advancement and a leap towards more personalized and responsive healthcare solutions, creating more resilient, long-lasting, and effective aids, greatly enhancing the quality of life for users.

Market Drivers: 

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

Segments Analysis

By Fiber Type

“Carbon fiber composites are expected to remain dominant as well as the fastest-growing fiber type during the forecast period.”

• The market is segmented into carbon fiber composites, glass fiber composites, and others.
• 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.

By Application Type

“Prosthetic 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.”

• The market is segmented into operating & diagnostic tables, medical robots, bone implants, prosthetics & orthotics, surgical seals, and others.
• 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.

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By End-User Type

“Hospitals are anticipated to generate the highest demand for composites during the forecast period.”

• The market is segmented into hospitals, ambulatory centers, and others.
• 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.

Regional Insights

“North America is expected to remain the largest market for medical composites till 2030.”

• 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).
• 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.

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Competitive Landscape

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. The following are the key players in the medical composites market.

Here is the list of the Top 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.

Note: The above list does not necessarily include all the top players in the market.

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Recent Product Development:

• 2024: Ottobock is offering an innovative mechanical prosthetic foot, Evanto, which resolves the contradiction between dynamics, flexibility, and stability for the first time. This makes it one of the most significant milestones in prosthetics since the invention of the carbon foot in the 1980s.
• In June 2023, the joint research project “Patch2Patient”, co-funded by the German Federal Ministry of Education and Research (BMBF), was completed. Besides Cevotec as project coordinator, in total six partners worked on this project: Carbonation GmbH, Mecuris GmbH, Guenther Bionics GmbH, Otto Bock SE & Co. KGaA and Fraunhofer IPA. The project partners investigated the necessary base technologies for a digital, flexible, and automated value chain in the production of composite medical products.
• In 2021, Össur launched three new models of its Cheetah sports prosthesis designed for amputee athletes. Made of a proprietary carbon fiber composite, the high-performance Cheetah prosthesis was designed to mimic the anatomical performance of an able-bodied runner’s foot and ankle joint.

Key Strategic Alliances in the Market:

• In 2024, Hanger, Inc., a leading provider of orthotic and prosthetic (O&P) patient care services and solutions, announced the completion of its previously announced transaction to acquire Fillauer.
• In 2024, Össur signed an agreement to acquire all shares of privately owned Fior & Gentz, a leading maker of lower limb neuroorthotic components.
• In 2024, Stille AB (publ) completed the previously announced acquisition of the German instrument provider Fehling (Fehling Instruments GmbH & Co. KG, Fehling Verwaltungs GmbH, and associated subsidiaries).
• In 2024, STERIS signed a pact to sell its dentistry business to the private equity firm Peak Rock Capital, through a US$ 787.5 million transaction.
• In 2023, STERIS plc acquired the surgical instrumentation, laparoscopic instrumentation, and sterilization container assets from BD (Becton, Dickinson and Company).
• In 2021, Stille AB (publ) signed a contract to acquire 100% of the shares in the Swiss company S&T AG, a recognized player in the development, manufacturing, and sales of microsurgical instruments in the absolute premium segment.
• In 2021, Baxter International Inc., a global medtech leader, announced that it completed its acquisition of Hillrom, for a purchase price of ~US$ 10.5 billion.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation 

This report studies the market, covering a period of 15 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The global medical composites market is segmented into the following categories. 

Medical Composites Market, by Fiber Type

• Carbon Fiber Composites
• Glass Fiber Composites
• Others

Medical Composites Market, by Application Type

• Composite Table Tops
• Medical Robots
• Bone Implants
• Prosthetics
• Surgical Seals
• Others

Medical Composites Market, by Process Type

• Wet Lamination
• Prepreg Layup
• Others

Medical Composites Market, by End-User Type

• Hospitals
• Ambulatory Surgical Centers
• Others

Medical Composites Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Italy, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, The UAE, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s medical composites market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances.

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