Medical composite materials market eyes 10.87% CAGR growth until 2028

An increasing use of CMCs is set to drive market growth within the forecast period.

The global market for medical composite materials is estimated to grow by $871.8m until 2028 at a compound annual growth rate (CAGR) of 10.87%.

A report by Technavio revealed that the market is experiencing notable growth due to the increasing use of ceramic matrix composites (CMCs) in different medical applications including dental and orthopaedic implants.

“With the ageing population expanding in countries like Japan, Korea, China, India, and Russia, the demand for orthopaedic surgeries and subsequent implants is projected to rise, boosting the market,” The report said.

Moreover, the market is driven by the prevalence of chronic diseases and advancements in medical technology.

In line with this, a rising trend towards minimally invasive surgeries and the demand for lightweight and strong materials are also contributing to the market’s growth.

“The use of these materials in tissue engineering and regenerative medicine is also on the rise, further expanding their applications in the healthcare sector,” The report added.