What Has Been the Progress and Growth of the Metal Implants And Medical Alloys Market in Recent Years?
The metal implants and medical alloys market has seen considerable growth due to a variety of factors.
• The market size of metal implants and medical alloys has demonstrated strong growth over the last few years. It is expected to experience an expansion from $16.25 billion in 2024 to $18.1 billion by 2025, which equates to a compound annual growth rate (CAGR) of 11.4%.
This rate of growth during the past period is tied to factors such as an aging populace, an upswing in orthopedic and dental procedures, increased chronic illness incidents, and a rise in cases of trauma and accidents.
How Does the Forecast Look for the Metal Implants And Medical Alloys Market?
The metal implants and medical alloys market is expected to maintain its strong growth trajectory in upcoming years.
• An accelerated expansion is anticipated for the metal implants and medical alloys market in the forthcoming years. It is projected to expand to a staggering $26.83 billion by 2029, at a compound annual growth rate (CAGR) of 10.3%.
The growth during this forecast period can be credited to the customization and personalization of implants, advancements in minimally invasive procedures, the rise of dental implantology, and the proliferation of neurostimulation devices. Key trends expected throughout this forecast period encompass technological progress, integration with digital health, the use of sustainable and eco-friendly alloys, and an increase in collaborations and partnerships.
What Are The Leading Drivers Of Growth In The Metal Implants And Medical Alloys Market?
The escalating rate of road accidents is set to stimulate the expansion of the metal implants and medical alloys market. Road incidents refer to collisions of a moving vehicle on a public road leading to possible fatal or non-fatal injuries. Reasons for the increase in road misfortunes include distractions while driving, excessive speed, poor state of the roads, and a rise in the number of cars. In surgeries related to road accidents, metal implants and medical alloys play an essential role by providing lasting reinforcement for bone restoration and aiding in expedited recovery. For example, a report by the International Transport Forum (ITF), an intergovernmental organization based in France, reported that Canada witnessed 106 road fatalities in January 2022, which escalated to 153 fatalities by December 2022, marking an increase of 47 deaths over the span of a year in September 2023. Thus, the upswing in road accidents is a primary propellant for the growth of the metal implants and medical alloys market. The metal implants and medical alloys market continues to be driven by increasing incidences of cardiovascular disorders. They denote a variety of conditions that impede the normal functioning of the heart and blood vessels, consequently leading to severe health issues. The climbing number of these disorders is linked to factors like unhealthy living practices, poor nutrition, physical inactivity, and an aging demographic. In terms of cardiovascular disorders, metal implants and medical alloys are utilized in devices such as stents and artificial heart valves, thus providing necessary structural support and durability for treating and managing heart disorders. For instance, a slight uptick in deaths related to ischemic heart diseases was noted by the Singapore Heart Foundation (SHF), a non-profit organization based in Singapore, from 5,290 deaths in 2022 to 5,302 deaths in May 2024. Hence, the rising cases of cardiovascular ailments are a key driver propelling the growth of the metal implants and medical alloys market.
How Are The Segments Defined Within The Global Metal Implants And Medical Alloys Market?
The metal implants and medical alloys market covered in this report is segmented –
1) By Material: Titanium, Stainless Steel, Cobalt Chromium, Other Materials
2) By Application: Cardiovascular Applications, Dental Applications, Spinal Fusion Applications, Cranio-Facial Surgeries, Orthopedic Reconstruction Surgeries, Other Applications
3) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Titanium: Titanium Alloys, Titanium Implants
2) By Stainless Steel: 316L Stainless Steel, 304 Stainless Steel, Other Stainless Steel Grades
3) By Cobalt Chromium: Cobalt Chromium Alloys, Cobalt Chromium Implants
4) By Other Materials: Zirconium, Nickel Titanium (Nitinol), Magnesium Alloys, Other Biocompatible Alloys
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Which Emerging Market Trends Are Altering The Metal Implants And Medical Alloys Industry?
Trend 1:
Text: Top firms involved in the metal implants and medical alloys industry are concentrating on creating ingenious solutions such as foot and ankle plating systems, aimed at treating foot and ankle issues. Foot and ankle plating systems refer to surgical hardware solutions utilized to provide support and stabilize fractures or deformations on the foot and ankle via the placement of metal plates and screws. For example, MiRus LLC, a US-based medical devices enterprise with substantial proprietary know-how in both implants and procedural strategies, introduced the ATLAS MoRe Foot and Ankle Plating System in September 2023. The said system, launched by MiRus, LLC, is characterized by a modular design that offers customizable fixation alternatives specifically tailored to meet the unique needs of each patient. It includes an innovation locking mechanism that enhances its stability and strength, while the system's low-profile plates ensure a better anatomical fit, hence reducing the potential for soft tissue irritation. Furthermore, the design of the system is meant to simplify its utilization during surgical operations, thus enhancing efficiency and results.
Pioneering Techniques Revolutionize Metal Implants for Superior Performance
Firms in the metal implants and medical alloys sector are adopting advanced methods like aurum technology to secure a competitive advantage in the arena of metal implants and medical alloys. This includes an orthopedic device boasting a titanium nitride surface that is strongly bonded to a titanium base. For instance, Total Joint Orthopedics Inc., a US-based medical device manufacturer, introduced a klassic knee system relying on aurum technology in March 2022. The revolutionary replacement implant, made from a titanium alloy and coated with aurum technology— a titanium nitride coating employed to enhance the wear and corrosion resistance of metal implants— provides a high-standard and efficient knee replacement procedure. It was designed to offer patients a more enduring, durable total knee replacement. It aids in decreasing friction between the implant and surrounding tissue, thereby improving the implant's function and lowering the likelihood of difficulties. The key aim of this technology is to minimize the reliance of orthopedic implants on cobalt chrome.
Who Are the Key Players In The Metal Implants And Medical Alloys Market?
Major companies operating in the metal implants and medical alloys market are:
• Medtronic PLC
• Johnson Matthey PLC
• Stryker Corporation
• Kyocera Corporation
• B. Braun Melsungen AG
• Koninklijke DSM N.V.
• Aperam S.A.
• Zimmer Biomet Holdings Inc.
• Olympus Corporation
• Smith and Nephew PLC
• Dentsply Sirona Inc.
• ATI Specialty Alloys and Components
• Carpenter Technology Corporation
• Materion Corporation
• Integra LifeSciences Holdings Corporation
• NuVasive Inc.
• CONMED Corporation
• Wright Medical Group
• Fort Wayne Metals Research Products LLC
• Ulbrich Stainless Steels & Special Metals Inc.
• Lisi Medical Jeropa Inc.
• Shanghai MicroPort Orthopedics Inc.
• DJO Global Inc.
• Ametek Specialty Metal Products Inc.
• Boston Centerless Inc.
• Anomet Products Inc.
• AAP Implantate AG
• QuesTek Innovations LLC
• Supra Alloys Inc.
• Syntellix AG.
What Is The Most Dominant Region In The Metal Implants And Medical Alloys Market?
North America was the largest region in the metal implants and medical alloys market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in metal implants and medical alloys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
