Metal Implants and Medical Alloys Market Research Report: Information by Material Type (Titanium, Stainless Steel, Cobalt-Chromium and others), Application [Orthopedic (Joint Reconstruction Devices, Trauma Fixation Devices and Spinal Implants), Cardiovascular (Stents, Implantable Cardiac Pacemakers, Implantable Cardioverter Defibrillators, Guidewires, Mechanical Heart Valves), Dental (Dental Implants, Orthodontic Appliances, Metallic Bridges and Crowns), Craniofacial Implants (Cranial Implants and Facial Implants) and Neurological] and Region – Forecast till 2025
Metal Implants and Medical Alloys Market Overview:
The global report studying various impacts of the metal implants and medical alloys market size reveals 9.1% CAGR during the forecast period of 2019 to 2025. Market Research Future (MRFR) studied several factors that can transform the metal implants and medical alloys market in the coming years.
The global metal implants and medical alloys market is benefiting from the increasing healthcare expenditure that is easing the inclusion process of the latest technologies, expanding the patient pool, and allowing proper infrastructural support. These factors are further getting backed by funding for the research and development sector, a hike in demand for minimally-invasive surgical procedures, obesity-related problems, and a surge in the number of accident-related traumas.
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On the flip side, the cost of such implants is quite high, which can boost the global metal implants and medical alloys market growth.
Metal Implants and Medical Alloys Market Segmentation:
The global discussion on the metal implants and medical alloys market includes segments like material type and application.
By material type, the market includes cobalt-chromium, stainless steel, titanium, and others. The titanium segment dominates the market due to its higher strain-bearing capacity, high biocompatibility, rigidity, strength, and greater corrosion resistance properties than other materials.
By application, the global study of the metal implants and medical alloys market includes cardiovascular, orthopedic, craniofacial implants, dental, and neurological. The orthopedic segment includes trauma fixation devices, joint reconstruction devices, and spinal implants. The joint reconstruction devices segment comprises shoulder reconstruction devices, hip reconstruction devices, knee reconstruction devices, and others. The trauma fixation devices segment consists of wires, nails, pins, metal plates & screws, and rods. The spinal implants segment includes vertebral compression fracture devices, spinal decompression devices, spinal fusion devices, and motion preservation devices. The cardiovascular segment includes segments like implantable cardiac pacemakers, stents, guidewires, implantable cardioverter defibrillators, and mechanical heart valves. The dental segment has segments like orthodontic appliances, metallic bridges, dental implants, and crowns. The craniofacial implants segment focuses on segments like cranial implants and facial implants. The orthopedic segment has the highest CAGR predicted for the forecast period as it is getting supported by the rising elderly population, better funding for advanced technologies, and prevalence of various diseases like neuropathic diseases, cardiovascular diseases (CVDs), osteoarthritis (OA), and congenital disorders.
Metal Implants and Medical Alloys Market Regional Outlook:
The Americas would inspire moves in the global market as they would benefit from the structural superiority of North America, particularly the US and Canada. Both these countries allow research and an easy influx of funding, which would spur the market growth.
Metal Implants and Medical Alloys Market Competitive Landscape:
DePuy Synthes, Royal DSM, Zimmer Biomet, Fort Wayne Metals Research Products Corp, AMETEK Inc., Aperam, ATI Specialty Alloys & Components, Materion Corporation, Wright Medical Group N.V., Supra Alloys (TITAN Metal Fabricators, Inc.), and others are influential names involved in the global metal implants and medical alloys market.
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Industry News:
The COVID-19 pandemic is changing several aspects of the global metal implants and the medical alloys market. Due to this outbreak, most of the treatments of various diseases have been put on hold to reduce spreading the disease. Countries have issued directives to work on emergency cases only to increase the focus on COVID-19 only. Such practices have reduced the number of operations that require medical implants, which, in turn, curbed the market outcome. However, some countries have started restoring their normal life, which would ensure a hike in treatments that include metal implants and medical alloys. This will get the metal implants and medical alloys market back on track.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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