PUBLISHER: The Business Research Company | PRODUCT CODE: 1415721
PUBLISHER: The Business Research Company | PRODUCT CODE: 1415721
“Metal Implants And Medical Alloys Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on metal implants and medical alloys market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for metal implants and medical alloys? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The metal implants and medical alloys market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Metal implants and medical alloys are metallic materials utilized in medical procedures, particularly in orthopedics, surgery, and the manufacturing of medical devices. These materials are employed to fabricate implants, devices, and components that are inserted into the body to repair, support, or enhance various physiological functions.
The primary types of materials in metal implants and medical alloys encompass titanium, stainless steel, cobalt chromium, and other metals. Titanium, denoted by the chemical element Ti with atomic number 22, finds applications in a range of medical procedures. These include cardiovascular and dental applications, spinal fusion, craniofacial surgeries, among others, and are utilized by various end-users including hospitals, clinics, and ambulatory surgical centers.
The metal implants and medical alloys market research report is one of a series of new reports from The Business Research Company that provides metal implants and medical alloys market statistics, including implants and medical alloys industry global market size, regional shares, competitors with implants and medical alloys market share, detailed implants and medical alloys market segments, market trends and opportunities and any further data you may need to thrive in the implants and medical alloys industry. This implants and medical alloys market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The metal implants and medical alloys market size has grown rapidly in recent years. It will grow from $14.56 billion in 2023 to $16.25 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to aging population, orthopedic and dental procedures, rise in chronic diseases, trauma and accident cases.
The metal implants and medical alloys market size is expected to see rapid growth in the next few years. It will grow to $24.18 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to customization and personalization of implants, minimally invasive procedures, growth of dental implantology, rising neurostimulation devices. Major trends in the forecast period include technological advancements, digital health integration, sustainability and environmentally friendly alloys, collaboration and partnerships.
The growing incidence of road accidents is anticipated to drive the expansion of the metal implants and medical alloys market in the foreseeable future. Road accidents, involving moving vehicles on public roads, lead to both fatal and non-fatal injuries. In the treatment of such injuries, metal implants and medical alloys play a pivotal role. These implants serve to stabilize fractured bones, facilitate the healing process, and reinstate normal function for the injured. For example, a report released by the Insurance Institute for Highway Safety in May 2023 revealed an increase in road crashes from 35,935 in 2020 to 39,508 in 2021. In 2021 alone, 42,939 individuals lost their lives in motor vehicle crashes. These tragic incidents occurred in 39,508 collisions involving 61,332 motor vehicles. This marked a 10% surge in fatalities compared to 2020. Consequently, the mounting number of road accidents is propelling the growth of the metal implants and medical alloys market.
The increasing prevalence of cardiovascular disorders is anticipated to be a major driver for the growth of the metal implants and medical alloys market in the foreseeable future. Cardiovascular disorders encompass a spectrum of conditions affecting the heart and blood vessels, often leading to severe health implications. In the realm of cardiovascular treatment, metal implants and medical alloys play a pivotal role, particularly in the development of devices like stents and artificial heart valves. These materials provide crucial structural support and durability for treating and managing heart conditions. For instance, data from the Centers for Disease Control and Prevention in May 2023 reported that over 695,000 individuals in the US succumbed to heart disease, constituting one in every five deaths. Additionally, coronary heart disease emerged as the most prevalent form, accounting for 375,476 deaths in 2021. Consequently, the escalating incidence of cardiovascular disorders is propelling the expansion of the metal implants and medical alloys market.
The growth trajectory of the metal implants and medical alloys market might face obstacles due to regulatory challenges stemming from safety concerns. These challenges encompass the difficulties encountered by businesses and organizations in adhering to regulations set forth by regulatory authorities. Recently, manufacturers of metal implants have been particularly attentive to the safety issues associated with long-term usage. For example, in May 2021, the Food and Drug Administration initiated comprehensive post-market assessments of data linked to specific metal-containing implants, responding to raised safety concerns, especially those pertaining to metal-on-metal (MoM) total hip arthroplasty (THA) systems. Consequently, regulatory hurdles, driven by safety apprehensions, may impede the expansion of the metal implants and medical alloys market.
Companies in the metal implants and medical alloys market are embracing cutting-edge technologies like aurum technology to expand their market presence and meet growing demand. Aurum technology represents an orthopedic implant featuring a titanium nitride surface ballistically bonded to a titanium substrate. For instance, in March 2022, Total Joint Orthopedics Inc., a US-based medical device company, introduced a klassic knee system incorporating aurum technology. This pioneering replacement implant is crafted from titanium alloy and incorporates an aurum technology coating-a titanium nitride coating known for enhancing wear resistance and corrosion protection in metal implants. This results in a high-quality, efficient knee replacement procedure, designed to offer patients a longer-lasting and more robust total knee replacement. It helps minimize friction between the implant and surrounding tissue, improving its functionality and reducing the risk of complications. This technology aims to reduce the reliance on cobalt chrome in orthopedic implants.
In November 2022, Alleima, a Sweden-based manufacturer specializing in high-value-added products made from special alloys, acquired Endosmart GmbH for an undisclosed amount. This acquisition is part of Alleima's strategy to broaden its product portfolio, enter new market segments, and introduce innovative technologies for the benefit of patients. Endosmart GmbH, based in Germany, is a leading manufacturer of metal implants and medical alloy devices.
Major players in the metal implants and medical alloys market are Medtronic PLC, Johnson Matthey PLC, Stryker Corporation, Kyocera Corporation, B. Braun Melsungen AG, Koninklijke DSM N.V., Aperam S.A., Zimmer Biomet Holdings Inc., Olympus Corporation, Smith and Nephew PLC, Dentsply Sirona Inc., ATI Specialty Alloys and Components, Carpenter Technology Corporation, Materion Corporation , Integra LifeSciences Holdings Corporation, NuVasive Inc., CONMED Corporation, Wright Medical Group, Fort Wayne Metals Research Products LLC, Ulbrich Stainless Steels & Special Metals Inc., Lisi Medical Jeropa Inc., Shanghai MicroPort Orthopedics Inc., DJO Global Inc., Ametek Specialty Metal Products Inc., Boston Centerless Inc., Anomet Products Inc., AAP Implantate AG, QuesTek Innovations LLC, Supra Alloys Inc., Syntellix AG .
North America was the largest region in the metal implants and medical alloys market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in metal implants and medical alloys report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the metal implants and medical alloys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The metal implants and medical alloys market consists of sales of orthopedic implants, dental implants, cardiovascular devices, neurosurgical devices, trauma devices and platinum alloys. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.