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The global metal implants and medical alloys market size is estimated to grow by USD 8.27 billion, at a CAGR of 9.48% between 2023 and 2028. Orthopedic implants are medical implants that are used to replace missing joints or bones, as well as to provide support to damaged or broken bones. To ensure optimal strength, these devices are made of titanium alloys and stainless steel, with a plastic coating that works as artificial cartilage. Internal fixation is a type of orthopedic surgery that involves the placement of implants to heal a broken bone. Furthermore, due to the aging population, especially in North America, Europe, and Japan, the number of persons undergoing joint replacement surgeries, such as complete hip and knee replacement, has gradually risen and continues to increase. The rising demand for orthopedic implants among those aged 65 years and above, which will drive the growth of the market during the forecast period.
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The metal implants and medical alloys market growth and forecasting report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
In the healthcare sector, the aging global population confronts rising instances of chronic diseases, necessitating frequent surgical interventions. To enhance patient outcomes, medical technology integrates biocompatible materials and 3D printing for precision. This extends to addressing conditions like cardiovascular and dental conditions, where metal implants play a crucial role. Prosthetics and orthopedic diseases benefit from advancements in metal implants, while dental implants made from materials like zirconium address dental problems with improved durability and functionality.
The market share growth by the titanium segment will be significant during the forecast period. Due to their advantages, such as high strength, rigidity, fracture toughness, and consistent mechanical performance, as a replacement for hard tissues, metallic alloys such as titanium continue to be one of the most important components utilized in orthopedic implant devices.
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The titanium segment was valued at USD 3.42 billion in 2018. Despite the large volume of metallic medical devices and implants in use presently, most of them are made from a few specific metals like titanium. Some examples of titanium implants used in orthopedic prosthetics include prosthetic hip and knee replacements in patients suffering from various types of arthritis that affect these joints, spinal fusion instruments to stabilize degenerating and unstable vertebral segments, and fracture fixation devices of various types, such as plates, screws, and intramedullary rods. Hence, these are the factors that are expected to maintain the dominance of the titanium segment in the market during the forecast period.
The orthopedic?segment will account for the largest share of this segment.? The global orthopedic metal implants and medical alloys market encompasses joint replacements, fracture fixations, spinal fusions and spinal implants. Utilizing durable titanium and cobalt-chromium alloys, these implants offer pain relief and mobility. Companies provide comprehensive orthopedic solutions, advancing joint reconstruction, trauma, and spine care. Minimally invasive techniques are on the rise, aiming to enhance surgical outcomes and patient recovery. This trend fuels demand for metal implants and alloys, driving market growth in orthopedic applications.
The cardiovascular segment is also showing steady growth in the market. Demand for cardiovascular metal implants like cardiac pacemakers and artificial heart surges due to limited heart donors and rising cardiovascular diseases. Technological advancements, such as MRI-compatible pacemakers accelerate adoption and cater to growing demand. Micra TPS, the world's smallest pacemaker, boasts a 99% implant success rate. Such innovations drive the fastest growth in the cardiovascular segment of the market. The report also includes an in-depth analysis of drivers, trends, and challenges. Our market forecasting report examines historical data from 2018-2022, besides analyzing the current market scenario.
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APAC is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America dominates the global metal implants and medical alloys market due to factors like high chronic disease prevalence, strong insurance systems, and advanced healthcare infrastructure. The US leads with widespread minimally invasive surgeries, technological adoptions, and orthopedic expenditure. Canada follows, driven by research, joint replacement registries, and injury rates. Mexico thrives on a growing geriatric populace, OA/RA prevalence, and medical tourism. Rising demand for implants, especially in knee surgeries, fuels metal implants and medical alloys market growth across the region, with all leading manufacturers contributing significantly.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The metal implants and medical alloys market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Allegheny Technologies Inc., AMETEK Inc., Aperam SA, Arthrex Inc., Boston Centerless Inc., Carpenter Technology Corp., Fort Wayne Metals Research Products LLC, Johnson and Johnson Services Inc., Johnson Matthey Plc, Materion Corp., Prince Izant Co., Stryker Corp., Supra Alloys, Ugitech SA, United Performance Metals, Resonetics, Unity Precision Manufacturing, Zimmer Biomet Holdings Inc., and Anomet Products Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Medication often complements metal implants, aiding in post-operative recovery and management of conditions affecting body functions and organs. Among the various metals used, tantalum stands out for its exceptional osseointegration, wear resistance, and corrosion resistance, making it ideal for implant applications. With the rising incidence of conditions like osteoporosis, demand for metal implants for stent placements and pacemaker implantations continues to grow. Innovations in material science and 3D printing services enable custom fabrication tailored to specific anatomical requirements. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The increasing incidence of osteoarthritis and rheumatoid arthritis is a major factor that is notably driving the market growth. Arthritis is joint inflammation affecting connective tissues, causing pain, swelling, stiffness, and limited mobility. Aging, injuries, trauma, genetics, diabetes, obesity, and immune dysfunction are common causes of osteoarthritis (OA) and rheumatoid arthritis (RA). Prevalence rates of knee OA were 16% among individuals aged 15 years or above and 22.9% among those aged 40 years or above in 2020, with 654.1 million cases worldwide.
The incidence rate of knee OA was 203 per 10,000 person-years in individuals aged 20 years or above, with 86.7 million new cases worldwide in 2020. The global prevalence of RA was 460 out of 100,000 people in 2020. As the global population aged 65 years and above is growing, the use of medical devices such as metal made of medical alloys is increasing to replace damaged bones caused by OA and RA, driving metal implants and medical alloys market growth and trends.
The increasing adoption of minimally invasive procedures is the primary trend shaping the market. Align with market trends and analysis, herniated discs, degenerative spinal diseases, fractures, trauma, tumors, herniated discs with cord compression, herniated discs with cauda equina syndrome (CES), spondylosis/spondylolisthesis, stenosis, pseudoarthrosis, partial knee trauma, and errors in the positioning of prosthetic can all be treated using minimally invasive surgical procedures.
Further, when compared with open surgery, minimally invasive surgical methods are safer, less stressful, and have lower mortality and complication rates. Surgical-site infections (SSIs) are 5.77 times more likely in open surgeries than in minimally invasive surgeries, according to a study published recently. Reduced surgical risks, less pain and blood loss, lower chances of infection, and shorter postoperative recovery times are just a few of the benefits of minimally invasive surgeries, which are making them popular both among patients and healthcare providers. Therefore, these factors will boost metal implants and medical alloys market growth during the forecast period.
Lack of awareness about the availability of advanced implants is the major challenge that affects the market expansion. Patients often rely on healthcare professionals to recommend treatment options, including the choice of implants. However, limited awareness among healthcare providers about the latest advancements in implant materials, designs, and techniques can result in suboptimal treatment decisions. This lack of awareness may lead to patients receiving that are not tailored to their specific needs or may not provide the best possible outcomes.
Moreover, addressing the lack of awareness requires collaborative efforts from manufacturers, healthcare professionals, and patient advocacy groups. Education and training programs for healthcare providers can help improve their knowledge and understanding of advanced implant technologies, enabling them to make informed treatment recommendations. Also, without proper education and information, patients may opt for traditional treatment methods or delay necessary procedures, impacting their overall quality of life and long-term health outcomes. Thus, such factors may impede metal implants and medical alloys market growth during the forecast period.
The metal implants and medical alloys market report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the metal implants and medical alloys market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Metal implants are crucial for various medical applications, with new alloys continually enhancing mechanical properties for improved outcomes. Alongside, biodegradable polymers and porous metals offer innovative solutions. Advancements in surface treatments extend device lifespans, while materials like zirconium dioxide, nitinol, stainless steel implants, and titanium alloy cater to diverse needs, from cardiovascular stents to joint reconstruction devices. These implants find application in hospitals, ambulatory centers, and specialties like craniomaxillofacial and neurological care, driving physician training and MIS devices development.
Additionally, advanced techniques such as 3D printing enable precise 3D anatomical reconstruction laboratory, shaping the future of orthopedic disease management. Further, the market is diverse, offering solutions such as zirconium dioxide implants, nitinol alloy implants, stainless steel, and titanium alloy implants, along with cobalt-chromium alloy implants and cobalt chrome variations. These implants cater to various medical needs, from spinal fusion devices to craniofacial and trauma fixation devices. Advanced techniques like osseointegrate and 3D printing enable precise 3D-printed medical implant, revolutionizing treatments for conditions requiring spinal implants and craniofacial implants interventions.
The metal implants and medical alloys market is growing rapidly, fueled by technological advancements and the aging global population. As chronic diseases, particularly cardiovascular and dental conditions, increase, the demand for surgical interventions and replacement surgeries is rising. The use of biocompatible materials in metal implants ensures better patient outcomes, especially in fixations and joint replacements. Medical technology advancements, such as 3D printing, are revolutionizing the design and production of implants, offering personalized solutions for patients. 3D printing also enhances the precision of metal implants, improving compatibility and functionality. With the growing need for innovative materials and techniques, the market continues to expand, addressing the increasing healthcare challenges posed by aging populations and chronic diseases.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.48% |
Market Growth 2024-2028 |
USD 8.27 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.1 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
aap Implantate AG, Allegheny Technologies Inc., AMETEK Inc., Aperam SA, Arthrex Inc., Boston Centerless Inc., Carpenter Technology Corp., Fort Wayne Metals Research Products LLC, Johnson and Johnson Services Inc., Johnson Matthey Plc, Materion Corp., Prince Izant Co., Stryker Corp., Supra Alloys, Ugitech SA, United Performance Metals, Resonetics, Unity Precision Manufacturing, Zimmer Biomet Holdings Inc., and Anomet Products Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our metal implants and medical alloys market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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