The metal implants and alloys market was valued at USD 11.97 Billion in 2019 and is expected to reach USD 23.96 Billion by the year 2028, at a CAGR of 9.00%. Metal implants and medical alloys are extensively used in the healthcare sector for the recovery of damaged body parts and replacing those parts using metal implants. The metal implants are designed to work as the repaired body part and continue the proper functioning of the body. The effects of aging, such as bone fractures due to low bone density are reduced using these implants. The increasing amount of geriatric population has consumed a huge share in the market. This population is more acquainted with accidental fractures, orthopedic diseases, and cardiovascular diseases owing to the large share. In a study published by the American Academic Orthopedic Surgery, 2.5 million femur fractures occur annually and the number is expected to reach double in 2050. The rising number of sports injuries among teens and children has also anticipated market growth. The sports injury Stanford children health statistics states that more than 3.5 million injuries occur in the U.S. every year.
Top Companies Profiled in the Report Include:
Royal DSM, Johnson Matthey Plc, Fort Wayne Metals, AMETEK Inc., QuesTek Innovations LLC, ATI Specialty Alloys and Components, Aperam S.A., Materion Corporation, and Supra Alloys (TITAN Metal Fabricators, Inc.).
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Further key findings from the report suggest
- Various new combinations of technologies such as wireless and high frequency technologies, monitoring, recording and others are collaborated with medical implants owing to the growth of the market.
- Furthermore, implants fitted using energy or power source such as a battery called as active implants are being developed by companies. Neuroprosthetics is a huge field in the metal implants under research and development. For instance, Cortec has developed a closed loop system which measures and stimulates the activity of brain.
- Additive manufacturing or 3-D printing is escalating the development in implants. A company called Tsunami Medical S.r.l in Italy has developed custom spine cages. Spine cages, used for leveling and relieving pressure on spine, are made using titanium and additive manufacturing. Although titanium is a widely used metal for developing these cages, it is more rigid than bones and has shown to affect the bone structure.
- The metal alloy Niobium is in growing interest in the market owing to the metal’s inertness and physiological compatibility. It is significantly used in pacemaker devices for the heart
- Regionally, North America consumed the largest share in the market. The reason for the same is expected to be the rise in chronic disorders in the region. For instance, 1.05 million people have had coronary events in 2019 in the US according to American College of Cardiology.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
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Additionally, the report consists a detailed analysis of the segmentation of the Metal Implants And Medical Alloys market based on product types and end-use/application offered in the Metal Implants And Medical Alloys market.
By Type Outlook (Revenue in Million USD; 2020–2028)
Cobalt- Chromium alloys
Application Outlook (Revenue in Million USD; 2020–2028)
Orthopedic reconstruction surgeries
Mechanical Heart Valves
Trauma Fixation Devices
Metal Plates & Screws
Nails & Rods
Motion Preservation Devices
Vertebral Compression Fracture Devices
Spinal Decompression Devices
End-use Outlook (Revenue in Million USD; 2020–2028)
Ambulatory surgery centers
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Metal Implants And Medical Alloys market in these key regions.
Country-wise regional analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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