The global metal Implants and medical alloys Market is projected to grow at a CAGR of 8.79% to reach US$23.179 billion by 2025 from US$13.982 billion in 2019.
Spondylolisthesis is a disease in which the slipping of the vertebrae occurs at the base of the spine and can cause damage to bones as the vertebrae start slipping forward or backward. This condition is of different types such as degenerative, isthmic, traumatic, dysplastic, or pathologic. According to the facts, and estimates presented by the NCBI, Isthmic spondylolisthesis is such a disease that affects the adolescent population and the prevalence is estimated to higher in males as compared to females. Additionally, the dysplastic type is seen mostly in the younger or pediatric population. Thus, these increasing cases of spine problems are leading to individuals opting for implants to correct the condition and prevent any further damage, which is causing an increase in the demand for the metal implants and medical alloys and is fueling the market growth.
Dental Implants are also facing an increase in the demand owing to the rising dental problems, which are a result of an unhealthy lifestyle of many individuals and the growing geriatric population
According to the data and statistics provided by the AAID (American Academy of Implant Dentistry), there are about 3 million individuals in the US that have gotten dental implants installed, which is attributable to the weakening of their teeth or the problems due to poor oral hygiene and unhealthy lifestyle. In addition, the growing geriatric population is another factor that is contributing to this surge in the demand for dental implants and medical alloys as the teeth get weaker and diseased due to the reduction in the efficacy of the immune system of older people. Thus, these factors are propelling the market grot further over the forecast period.
3D printed implants hold the potential to provide the different market players with an opportunity to improve their product portfolios and bolster the market growth over the forecast period.
3D printed implants are gaining immense traction from the different industry players owing to the better and enhanced accuracy with which the parts can be manufactured and the relatively lower costs than the conventional manufacturing of implants. In addition, some market players are involved in offering such products such as DePuy Synthes among some others. Therefore, these factors are providing an opportunity for the market players to contribute to the market growth over the forecast period and intron, improve their market share.
Product Offerings by Major Market Players in the Metal Implants and Medical Alloys Market
Furthermore, major market players and newer market players are coming up with new and enhanced measures such as offering and launching top-quality metal implants and medical alloy products in order to cater to the general demand from the end-users effectively, whilst simultaneously earning profits and contributing to the market growth.
Some of the examples of product launches and project expansions are as follows:
The North American region to hold a noteworthy share over the forecast period owing to rising cases of spinal and dental problems in the high-income countries such as the US and the Asia Pacific region is estimated to increase its share over the forecast period owing to the investments being made into the healthcare sector
The North American region is expected to hold a noteworthy market share over the forecast period owing to the fact many leading pharmaceutical companies are involved in providing Metal Implants and Medical Alloys in this region and the well-established healthcare industry and infrastructure in the countries such as the US. In addition, there is faster adoption of advanced and enhanced metallic implants such as titanium implants in this region owing to the preference of using high-quality medical products among the individuals in the US, which is attributed to the sedentary lifestyle they lead.
Whereas, the Asia Pacific region is estimated to show promising growth prospects over the forecast period. This is attributable to the fact that several initiatives are being taken by the government and many investments are being poured in order to accelerate the development of the healthcare sector and healthcare sector in countries such as India, to make quality services available to the public.