Metal Implants and Medical Alloys Market Insights
Market Research Future estimated that the global metal implants and medical alloys market is set to reach the peak CAGR of 9.1%.
Metal implants are system-designed parts to provide internal support to biological tissues. They are widely used in joint replacements, dental implants, orthopedic fixation, and stents. Increased use of medical alloys is associated with an increased incidence of implant-related complications due to poor integration, inflammation, mechanical instability, necrosis, and infections, as well as prolonged pain and loss of function.
The worldwide increase in the number of traffic accidents and injuries, combined with the growing demand for minimally invasive surgical procedures, is expected to stimulate metal implants and medical alloys market growth during the evaluation period. In addition, the growth of the geriatric population, the increasing burden of lifestyle-related diseases, and the increasing technological progress of the devices should support market growth.
Metal Implants and Medical Alloys Market Segmentation
The material type segment of the market is segmented into titanium, cobalt chrome stainless steel, and others. The titanium segment is set to dominate as titanium is used head to toe in biomedical implants and is often used in the body due to the biocompatibility of titanium and surface modifications, bioactive surface. The high strength, low weight and increased corrosion resistance of titanium and titanium alloys have resulted in a wide and diverse range of high performance applications requiring high levels of reliable surgical performance.
Based on applications, the worldwide market for metal implants and medical alloys is divided into orthopedic, cardiovascular, dental, craniofacial, and neurological implants. The orthopedic segment is also classified into trauma fixation devices, joint reconstruction devices, and spinal implants. The segment of joint reconstruction devices is also classified into knee reconstruction, shoulder reconstruction, hip reconstruction, and others. The segment of trauma fixation devices is also divided into metal plates and wires, screws, pins, nails, and rods. The spinal implant segment is further classified into spinal compression fractures, spinal fusion devices, spinal decompression devices, and motion retention devices. The cardiovascular segment is also divided into stents, implantable pacemakers, mechanical heart valves, implantable cardioverter defibrillators, and guidewires. The dental segment is divided into dental implants, bridges, orthodontic equipment, and metal crowns.
Metal Implants and Medical Alloys Market Regional Outlooks
The Americas, in 2018, dominated the global market for metal implant and medical alloys market owing to drastic growth in aging population, growing occurrences of chronic diseases, while enhancement in treatment and products, accessibility and advancement in healthcare services in the region such as Canada and the US.
Europe is anticipated to follow the Americas in the metal implants and medical alloys market and its second position holding during the forecast period owing to high expenditure on healthcare services, specifically the dental services. The region such as Switzerland and Germany are some reason that make regional market more lucrative for the futuristic growth.
The Asia Pacific regions is anticipated to gain a rapid growth in the implants and medical alloys market due to existence of huge patient population, increased healthcare spending and infrastructural investments, rising health awareness, and growing per capita income.
Further, the Middle East and Africa region are anticipated to witness strong growth during the forecast period. Growing investment to modernize the healthcare systems led by Middle Eastern countries is contributing the growth of the global metal implants and medical alloys market.
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Metal Implants and Medical Alloys Market Participants
The global metal implant and medical alloys market is operates by large number of key players through their product offerings and services such as Zimmer Biomet, Aperam, Materion Corporation, Fort Wayne Metals Research Products Corp. AMETEK Inc., ATI Specialty Alloys & Components, Wright Medical Group N.V, Supra Alloys (TITAN Metal Fabricators, Inc.), Royal DSM, and DePuy Synthes.
Metal Implants and Medical Alloys Industry Updates
A study published in Nature Microsystems & Nanoengineering describes a promising improvement in the procedure developed by engineers at San Diego State University, in collaboration with researchers at the Karlsruhe Institute of Technology (KIT) in Germany. Deep brain stimulation involves the implantation of electrodes into the brain to produce electrical impulses that control abnormal movements, but current implant materials may exhibit abnormalities when the patient needs subsequent magnetic resonance imaging