The Global Metal Implants and Medical Alloys Market size is expected to garner around US$ 19.5 Bn by 2026, growing at a CAGR of around 9.2% over the forecast period 2019 to 2026.
Metal implants are the biomaterials that are used to place inside or on the surface of the body. These are basically made up of stainless steel, Cobalt Chrome (CoCr) alloys, Titanium (Ti), and Ti alloys are widely used in orthopedic implants. The properties associated with these implants which make them an excellent choice for total joint replacement include high fracture toughness, hardness, corrosion resistance, high strength, and biocompatibility. The metal implants are either permanent or can be removed when they have no more use. For instance, hip and stent implants are placed permanently, whereas, chemotherapy ports or screws which are used to repair broken bones can be removed after the task completion. Moreover, the risks associated with these implants include infection or implant failure during or after the placement or removal.
The rising geriatric and obese populations globally along with the increasing number of road accidents & trauma cases are primarily driving the market growth. The increasing demand for minimally invasive surgical procedures across the globe coupled with the development of minimally invasive devices is supporting the market value. The growing prevalence of degenerative joint diseases is further accelerating the demand in the market. Moreover, the growing number of hospitals and surgical centers in emerging economies is likely to create potential opportunities over the forecast period from 2019 to 2026.
On the other hand, the high cost of metal implants and the lack of skilled surgeons are expected to hamper the growth during the forecast timeframe.
Titanium segment is projected to register major growth over the forecast period from 2019 to 2026
By type, Titanium (Ti) segment is accounted for the fastest growth over the forecast period due to its non-allergic, non-magnetic, and non-radio-opaque nature. The nature of the material makes it a preferable choice for bone implants without any additional coating. The titanium implants have various properties including greater strain-bearing capacity, high biocompatibility, rigidity, strength, and high corrosion resistance, which are supporting their growth in the market.
Orthopedic implants segment projected to account maximum share throughout the forecast period from 2019 to 2029
Based on application, orthopedic implants segment is anticipated to register maximum growth over the forecast timeframe owing to the rising prevalence of orthopedic disorders across the globe. The wide scope of orthopedic implants encompasses joint reconstruction devices, spinal implants, and trauma fixation devices are contributing to the segment growth.
The market research study on “Metal Implants and Medical Alloys Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global metal implants and medical alloys market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global metal implants and medical alloys market, its type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global metal implants and medical alloys market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The metal implants and medical alloys market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market sizes for different segments have been covered under the scope of the report.
Asia Pacific is expected to account fastest growth during the forecast period from 2019 to 2026
Asia Pacific is expected to register a maximum CAGR over the forecast period from 2019 to 2016 owing to increasing disposable income, improving healthcare infrastructure, the rapidly increasing number of accidents, and increasing health awareness among the residents.
The players profiled in the report include ATI Specialty Alloys & Components (US), Ametek Specialty Products (US), Aperam S.A. (Luxembourg), QuesTek Innovations LLC (US), Fort Wayne Metals (US), Carpenter Technology Corporation (US), Royal DSM (Netherlands), and Johnson Matthey Plc (UK). The major players are involved in mergers and acquisition activities for expanding the market presence.
Market By Type
Market By Application
Market By Geography
Metal implants are the biomaterials that are used to place inside or on the surface of the body.
According to Acumen Research and Consulting, the metal implants and medical alloys market size is poised to be hit around US$ 19.5 billion in 2026.
The metal implants and medical alloys market is anticipated to grow over 9.2% CAGR during the forecast period 2019 to 2026.
Factors such as The rising geriatric and obese populations globally along with the increasing number of road accidents & trauma cases restrain the metal implants and medical alloys market growth.
North America held maximum share in 2018 for metal implants and medical alloys market.
Asia Pacific is projected to grow at a fast pace during forecast period in the metal implants and medical alloys market.
The orthopedic implants segment is anticipated to register maximum growth over the forecast 2019 to 2026