Metal implants and medical alloys market has registered burgeoning growth in the recent decades due to the expanding geriatric population and rising number of accidents and injuries that are necessitating the use of implants. Bones in older people generally weaken giving rise to various problems such as low bone density and osteoporosis that can lead to increased bone fracture. They also tend to lose teeth which makes a strong case for dental metal implants. Estimates show that Metal Implants and Medical Alloys Market Trends which amassed a revenue of USD 10,310 million in 2018, is expected to register a CAGR of 9.1% over 2019-2025.
Various metals such as titanium, cobalt, iron, chromium, and tantalum are used in manufacturing metal implants. Metals can essentially replace bone structures that have either been damages in accidents or have worn out with age. Metal implants are often worn out after a span of 15 to 20 years which gives rise to the need of revision surgeries for new implants. Previously older people were less active which helped their implants to last longer. But in the recent decades, people even above the age of 60 have been found to be much more active as they prefer to jog, play golf or ride their bikes. he worldwide surge in the number of road accidents & trauma cases coupled with mounting demand for minimally invasive surgical procedures is expected to drive the market growth during the assessment period. In addition, growing geriatric population along with rising burden of lifestyle-associated diseases and increasing technological advancements in the devices are likely to support the market growth. For instance, as per the statistics published by World Health Organization (WHO), the number of road traffic deaths continues to rise steadily, reached to 1.35 million in 2016, increased from 1.15 million in 2000.
- Zimmer Biomet
- ATI Specialty Alloys & Components
- DePuy Synthes
- Materion Corporation
- Fort Wayne Metals Research Products Corp
- AMETEK Inc
- Wright Medical Group N.V.
- Royal DSM
- Supra Alloys
- The metal implants and medical alloys market is segmented on the basis of material type, application and region.
- Depending on material type, metal implants and medical alloys market is further subdivided into titanium, cobalt-chromium, stainless steel and others.
- By application, metal implants and medical alloys market is subdivided into orthopedic, dental, craniofacial, neurological and cardiovascular.
- By region, metal implants and medical alloys market is segmented into Americas, Europe, Asia Pacific and MEA.
The global metal implants and medical alloys market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Metal implants and medical alloys market is creating its own growth scope with technology improvements that can be achieved through collaborations as well. For instance, a recent exclusive global license has been signed between Sweden-based Bactiguard and U.S. based Zimmer Biomet in which innovative infection prevention technologies developed by Bactiguard will be used on orthopedic trauma implants of Zimmer Biomet. The agreement involves a payment of $3 million to Bactiguard at signing and an additional $2 million upon receiving clearances by U.S. regulatory bodies and post-commercialization royalties on net sales.