The global metal implants and medical alloys market is expected to exhibit a robust 8.34% CAGR over the forecast period from 2020 to 2030, according to the latest research report from Market Research Future (MRFR). The global metal implants and medical alloys market was valued at more than USD 10.3 billion in 2018. The report presents studied forecasts about the metal implants and medical alloys market’s growth over the forecast period from 2019 to 2025, on the back of detailed information about the market’s historical growth figures over the historical review period. Major drivers and restraints affecting the metal implants and medical alloys market’s growth are also profiled in the report to provide readers with a clear picture regarding what is affecting the market and to what degree. Major players operating in the global metal implants and medical alloys market are also profiled in the report.
Metal implants and medical alloys have become important in the medical world in recent years due to the rising cases of road accidents and other trauma, necessitating replacement of natural joints and bone structures by artificial implants. The growing geriatric population in the world is also a major driver for the global metal implants and medical alloys market, as geriatrics often require metal replacements for nonfunctioning joints and bone structures. Increasing standards of life around the world are likely to lead to a growing geriatric population, leading to a growing demand for metal implants and medical alloys around the world. The increasing disposable income of geriatrics around the world is also a major driver for the metal implants and medical alloys market, as this allows geriatric patients to pay for top-notch products when looking for prosthetic implants.
Metal prostheses and implants have taken up a prime position in the global medical implants market due to their higher mechanical strength and endurance. Compared to plastics and ceramics, metal implants provide higher levels of strength and mechanical endurance.
Competitive Analysis:
Leading players in the global metal implants and medical alloys market include Royal DSM NV, Zimmer Biomet, DePuy Synthes, AMETEK Inc., Fort Wayne Metals Research Products Corp., ATI Specialty Alloys and Components, Aperam, Wright Medical Group NV, Materion Corporation, and Supra Alloys.
Segmentation:
The global metal implants are segmented on the basis of material type, application, and region.
By material type, the global metal implants and medical alloys market is segmented into titanium, stainless steel, cobalt chromium, and others. The titanium segment holds the largest share in the global metal implants and medical alloys market due to the high strength of titanium and its high biocompatibility. Titanium has higher strain bearing attributes than other metals as well as greater corrosion resistance.
By application, the global metal implants and medical alloys market is segmented into orthopedic, cardiovascular, dental, craniofacial implants, and neurological. The orthopedic segment holds the largest share in the global metal implants and medical alloys market and is likely to retain its dominance over the forecast period. The growing geriatric population and the growing prevalence of orthopedic disorders among the same are the major drivers for the orthopedic segment.
Regional Analysis:
The Americas hold the largest share in the global metal implants and medical alloys market and are likely to remain the leading region over the forecast period. The growing geriatric population in North America, especially the U.S. and Canada, is the major driver for the Americas market for metal implants and medical alloys. Strong presence of leading players in the market is also a major driver for the metal implants and medical alloys market in the Americas.
Asia Pacific is likely to be the fastest growing regional market for metal implants and medical alloys over the forecast period due to the growing geriatric population in countries such as Japan, China, and India. The increasing research and development avenues in Asia Pacific are also a major driver for the regional metal implants and medical alloys market.
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