The metal implants and alloys market growth 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.
The North American region is expecting a higher market values due to innovations and technological advancements in regions like the U.S. and Canada. The emerging number of hospitals and trauma centers in the developing regions, significantly in the Asia Pacific, is a crucial driver of the market.
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.).
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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)
- Stainless Steel
- Cobalt- Chromium alloys
- Other metals
- Magnesium alloys
Application Outlook (Revenue in Million USD; 2020–2028)
- Orthopedic reconstruction surgeries
- Knee Reconstruction
- Shoulder Reconstruction
- Joint Reconstruction
- Hip Reconstruction
- Cardiovascular Applications
- Mechanical Heart Valves
- Trauma Fixation Devices
- Metal Plates Screws
- Nails Rods
- Dental Applications
- Metal Bridges
- Dental Implants
- Orthodontic application
- Spinal Implant
- Motion Preservation Devices
- Vertebral Compression Fracture Devices
- Spinal Decompression Devices
- Cranio-facial surgeries
- Neurological surgeries
End-use Outlook (Revenue in Million USD; 2020–2028)
- Ambulatory surgery centers
Country-wise regional analysis covers:
- North America
- Asia Pacific
- Latin America
- Middle East Africa
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