According to the current analysis of Reports and Data, the metal implants and alloys market was valued at USD 9.94 billion in 2019 and is expected to reach USD 20.29 billion by the year 2026, at a CAGR of 9.2%. Metal implants and medical alloys are extensively used in the healthcare sector for the recovery of damaged body parts and replacing those parts using metal implants. The metal implants are designed to work as the repaired body part and continue the proper functioning of the body. The effects of aging, such as bone fractures due to low bone density are reduced using these implants. The increasing amount of geriatric population has consumed a huge share in the market. This population is more acquainted with accidental fractures, orthopedic diseases, and cardiovascular diseases owing to the large share. In a study published by the American Academic Orthopedic Surgery, 2.5 million femur fractures occur annually and the number is expected to reach double in 2050. The rising number of sports injuries among teens and children has also anticipated market growth. The sports injury Stanford children health statistics states that more than 3.5 million injuries occur in the U.S. every year.
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The North American region is expecting a higher market values due to innovations and technological advancements in regions like the U.S. and Canada. The emerging number of hospitals and trauma centers in the developing regions, significantly in the Asia Pacific, is a crucial driver of the market.
The lack of trained professionals is a restraint for the market. The metal implant surgeries are complex and risky as these implants may cause severe trauma to the patient if the medical procedure fails. Also, the cost of medical implants is quite high, which would significantly hamper the growth of the market. Lack of awareness about such implants in developing countries is a challenge for the market.
Further key findings from the report suggest
- Various new combinations of technologies such as wireless and high frequency technologies, monitoring, recording and others are collaborated with medical implants owing to the growth of the market.
- Furthermore, implants fitted using energy or power source such as a battery called as active implants are being developed by companies. Neuroprosthetics is a huge field in the metal implants under research and development. For instance, Cortec has developed a closed loop system which measures and stimulates the activity of brain.
- Additive manufacturing or 3-D printing is escalating the development in implants. A company called Tsunami Medical S.r.l in Italy has developed custom spine cages. Spine cages, used for leveling and relieving pressure on spine, are made using titanium and additive manufacturing. Although titanium is a widely used metal for developing these cages, it is more rigid than bones and has shown to affect the bone structure.
- The metal alloy Niobium is in growing interest in the market owing to the metal’s inertness and physiological compatibility. It is significantly used in pacemaker devices for the heart
- Regionally, North America consumed the largest share in the market. The reason for the same is expected to be the rise in chronic disorders in the region. For instance, 1.05 million people have had coronary events in 2019 in the US according to American College of Cardiology.
- Key participants include Carpenter Technology Corporation, Royal DSM, Johnson Matthey Plc, Fort Wayne Metals, AMETEK Inc., QuesTek Innovations LLC, ATI Specialty Alloys and Components, Aperam S.A., Materion Corporation, and Supra Alloys (TITAN Metal Fabricators, Inc.)
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For the purpose of this report, Reports and Data has segmented the metal implants and medical alloys market on the basis of type, application, end use and region:
By Type Outlook (Revenue in Million USD; 2016–2026)
- Stainless Steel
- Cobalt- Chromium alloys
- Other metals
- Magnesium alloys
Application Outlook (Revenue in Million USD; 2016–2026)
- Orthopedic reconstruction surgeries
- Knee Reconstruction
- Shoulder Reconstruction
- Joint Reconstruction
- Hip Reconstruction
- Cardiovascular Applications
- Mechanical Heart Valves
- Trauma Fixation Devices
- Metal Plates & Screws
- Nails & Rods
- Dental Applications
- Metal Bridges
- Dental Implants
- Orthodontic application
- Spinal Implant
- Motion Preservation Devices
- Vertebral Compression Fracture Devices
- Spinal Decompression Devices
- Cranio-facial surgeries
- Neurological surgeries
End-use Outlook (Revenue in Million USD; 2016–2026)
- Ambulatory surgery centers
Regional Outlook (Revenue in Million USD; 2016–2026)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/metal-implants-and-medical-alloys-market
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