Polycarbonate Composites Market Size

Polycarbonate Composites Market Size

Global Polycarbonate Composites Market size was over USD 1,878.3 million in 2018 and will grow at a CAGR over 8.2% over the projected period.

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Medical industry will be a major driving factor for polycarbonate composites market growth in the coming years. PC composites sales will be gaining momentum over the next few years owing to countries making prominent investments in medical infrastructure and companies investing in R&D for improvising existent product line. As per World Industry Outlook, Healthcare and Pharmaceuticals, the healthcare industry registered a total spending of approximately USD 7 trillion by major regions across the globe in 2015. It is projected to reach USD 8.7 trillion by 2020.

North America, mainly led by the U.S., accounted for a prominent share in global healthcare market spending. For example, the U.S., with 16.9% of GDP in 2016, spent considerably on health care as compared to other countries. U.S. healthcare spending surpassed USD 3 trillion last year, with growth rates likely to accelerate during the forecast timeframe. Major expenditure categories include hospital care (USD 1 trillion), prescription drugs (USD 328.6 billion) and physicians (USD 634.9 billion). Increased demand on healthcare system due to chronic diseases will be driving companies to invest in research & development activities that particularly focus on providing healthcare delivery solutions at low-cost for general population. Polycarbonate composites have potential applications in disposable as well as re-usable medical devices such as patient transport devices, surgical instruments, medical device housings and fixation devices.