Medical composite materials refers to a compact product formed by mixing two or more components that offer greater performance compared to the individual components. Some of the major benefits of medical composite materials include high strength-to-weight ratio, excellent fatigue endurance, corrosion resistance, good impact resistance, and malleability. These materials can be easily manipulated to form complex designs, owing to their different biomechanical and biocompatible properties. Medical composite materials are used in the production of prosthetics and implants in the orthopaedic sector. The global medical composite material market can be segmented into three divisions based on type: Fiber composite, polymer metal composite, and polymer ceramic composite. Fiber composites are lighter and renders great external impact resistance, and thus is used in manufacturing various components such as prosthetics and implants.
Technavio analysts forecast the global medical composite material market for orthopaedics to grow at a CAGR of 7.23% during 2014-2019.
The use of composites in orthopaedic industry is to reach US$596 mln by 2020, as per ABMRG. The US has highest consumption in terms of value and volume. Hip, knee and spine surgeries are the common orthopedic procedures in the developed world while in emerging economies they have a lower penetration. Composites in global orthopedic industry are expected to grow at an average rate of 8.1%. The US has highest consumption in terms of value and volume. Hip, knee and spine surgeries are the common orthopedic procedures in the developed world while in emerging economies they have a lower penetration. Increased number of product recalls and failure rates are challenging the use of composites. Non-metallic orthopedic devices have gained popularity in the industry as they offer reduced failures, light weight, and last longer than their metallic counterparts. Ageing population and rising living standards have enhanced the growth of the orthopedic industry. A reduction in curing time, along with an increase in performance of these devices, has necessitated the need for innovation for new materials. “The future market will be challenged by emerging materials, technologies, applications, and procedures. Strong learning curve and experience of the metallic substitutes also challenge the growth of composites in the orthopedic industry,” said ABMRG analyst Purva Jain.