Metal Implants and Medical Alloys Market to Witness Steady Expansion During 2021 2030

In a recent published report, Kenneth Research has updated the market report for Metal Implants and Medical Alloys Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.  

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Metal Implants and Medical Alloys Market products.  

Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the MARKET during the forecast period.

Market Scenario

The Global Metal Implants and Medical Alloys Market is expected to register a healthy CAGR over the forecast period. The metal implants and medical alloys market size accounted for USD 10,310.0 million in 2018 and is projected to register a CAGR of 9.1% during the forecast period. Metallic implants as a load-bearing component are widely selected for orthopedic prosthesis due to their superiority over traditional ceramic and polymeric biomaterials.

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Metal alloys typically offer higher strength, durability, and flexibility over the base metal. Few of the major market drivers are a surge in the number of road accidents & trauma cases worldwide, growing demand for minimally invasive surgical procedures, increasing geriatric and obese populations, and rising incidence of lifestyle diseases. For instance, the number of road traffic deaths continues to increase steadily, reached 1.35 million in 2016, increased from 1.15 million in 2000. On the flip side, high cost of metal implants is anticipated to restrict market growth during the forecast period.

Segmentation

The global metal implants and medical alloys market has been segmented into material type, application, and region.By material type, the market has been segmented into titanium, stainless steel, cobalt-chromium, and others. The titanium segment is expected to hold the largest market share during the forecast period due to its high biocompatibility, strength, rigidity, higher strain-bearing capacity, and greater corrosion resistance properties when compared to other materials. It is non-magnetic, non-allergic, and non-radio-opaque, and it adheres easily to the bone without any additional coating.

Based on application, the global metal implants and medical alloys market has been classified into orthopedic, cardiovascular, dental, craniofacial implants, and neurological. The orthopedic segment has been further classified into joint reconstruction devices, trauma fixation devices, and spinal implants. The joint reconstruction devices segment has been further categorized into knee reconstruction devices, hip reconstruction device, shoulder reconstruction devices, and others. The trauma fixation devices segment has been additionally divided into metal plates & screws, wires, pins, nails, and rods.

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The spinal implants segment has been further classified into spinal fusion devices, spinal decompression devices, vertebral compression fracture devices, and motion preservation devices. The cardiovascular segment has been further categorized into stents, implantable cardiac pacemakers, implantable cardioverter defibrillators, guidewires, and mechanical heart valves. The dental segment has been classified into dental implants, orthodontic appliances, metallic bridges, and crowns. The craniofacial implants segment has been additionally segmented into cranial implants and facial implants. The orthopedic segment is expected to register comparatively higher CAGR over the forecast period due to growing elderly population; advancements in medical technologies; and the rising prevalence of chronic diseases including osteoarthritis (OA), cardiovascular diseases (CVDs), neuropathic diseases, and congenital disorders.

The global metal implants and medical alloys market has been segmented on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The metal implants and medical alloys market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.

The European metal implants and medical alloys market has been segmented into Western Europe and Eastern Europe. The Western Europe metal implants and medical alloys market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The metal implants and medical alloys market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The metal implants and medical alloys market in the Middle East & Africa has been segmented into the Middle East and Africa.

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Key Players

Royal DSM

Zimmer Biomet

DePuy Synthes

AMETEK Inc.

Fort Wayne Metals Research Products Corp

ATI Specialty Alloys & Components

Aperam

Wright Medical Group N.V.

Materion Corporation

Supra Alloys (TITAN Metal Fabricators, Inc.)

Regional Market Summary

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