The global metal implants and medical alloys market is projected to grow at a CAGR of 11.82% to reach US$27.432 billion by 2027, from US$12.546 billion in 2020.
Spondylolisthesis is a disease in which the slipping of the vertebrae occurs at the base of the spine and can cause damage to the 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 a disease that affects the adolescent population. The prevalence is estimated to be higher in males than females. Additionally, the dysplastic type is mostly seen in the younger or pediatric population. Thus, these increasing cases of spine problems lead to individuals opting for implants to correct the condition and prevent any further damage, which is causing an increase in the demand for metal implants and medical alloys and fueling the market’s growth.
Dental Implants are also facing an increase in demand due to the rising dental problems resulting from the unhealthy lifestyle of many individuals and the growing senior 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 had gotten dental implants installed, which is attributable to the weakening of their teeth or the problems due to poor oral hygiene and an unhealthy lifestyle. In addition, the growing geriatric population is another factor contributing to this surge in demand for dental implants and medical alloys as the teeth get weaker and diseased due to cause by the reduction in the efficacy of the immune system of older people. Thus, these factors propel the market 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 as DePuy Synthes, among others. Therefore, these factors allow the market players to contribute to market growth over the forecast period and, in turn, improve their market share.
Major Market Players' Product Offerings in the Metal Implants and Medical Alloys Market Product Offerings by Major Market Players in the Metal Implants and Medical Alloys Market
Furthermore, major 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 to cater to the general demand from the end-users effectively while simultaneously earning profits and contributing to the market growth.
Some of the examples of product launches and project expansions are as follows:
In October 2019, Alphatec Holdings, Inc., also known by the name ATEC and is a distinguished company involved in the manufacture and sale of medical devices, with special attention towards spine surgery, announced the commercial launch of their new product called the “identity.” The product is a line of porous titanium implants for lateral body fusion procedures. In addition to this, the company has also announced the release of another product called the AMP Lateral Anti-Migration Plate.
In September 2019, DePuy Synthes, which is a company, that is part of the Johnson & and Johnson Medical Devices Group, announced the launch of its new product line under the 3D printed titanium spinal implants at the 34th Annual North American Spine Society meeting, which was held in the last week of September. The product is called the “CONDUIT Interbody Platform and has been designed to mimic the structural characteristics and features of the natural bone. These implants are used to treat discs that have collapsed due to degenerative spinal diseases and come in various shapes and sizes.
The North American region is estimated to hold a significant share over the forecast period due to rising spinal and dental problems cases in high-income countries such as the US and the Asia Pacific region. It is estimated to increase its share over the forecast period due to investments being made into the healthcare sector.
The North American region is expected to hold a significant market share over the forecast period since many leading pharmaceutical companies provide 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 for using high-quality medical products among the individuals in the US, which is attributed to the sedentary lifestyle they lead.
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 made to accelerate the development of the healthcare sector and healthcare sector in countries such as India to make quality services available to the public.
The COVID-19 disease outbreak is affecting many aspects of the global metal implants and medical alloys markets. Because of the outbreak, most therapies for various diseases have been curtailed to order to limit disease spread. Nations have issued guidelines to focus solely on emergency cases in to order to increase the emphasis on COVID-19. Such practices had reduced the number of procedures requiring medical implants, thereby limiting market outcomes.
June 2022, Johnson Mathew Plc , a global leader in sustainable solutions, announced the sale of its Health business has been accomplished in line with the agreement of the sale transactions signed into between JM and Altaris Capital Partners, a leading healthcare investment firm. JM will retain estimated a 30% equity stake in Veranova as part of the transaction.
|Market size value in 2019||US$13.982 billion|
|Market size value in 2025||US$23.179 billion|
|Growth Rate||CAGR of 8.79% from 2019 to 2025|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Application, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||CRS Holdings Inc., DSM, Johnson Matthey, ATI, AMETEK Inc., Aperam, Wright Medical Group N.V., Zimmer Biomet, QuesTek Innovations LLC, Fort Wayne Metals Research Products Corp|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
CRS Holdings Inc.
Wright Medical Group N.V.
QuesTek Innovations LLC
Fort Wayne Metals Research Products Corp
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