Biomedical Metal Market - Global Forecasts and Opportunity Assessment by Technavio

According to the latest market study released by Technavio, the global biomedical metal market is expected to grow at a CAGR of more than 7% during the forecast period.

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This research report titled ‘Global Biomedical Metal Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The global biomedical metal market will witness a steady growth during the forecast period due to the rise in aging demographics and the increase in the demand for orthopedic implants. Biomedical metals are used for several applications in the medical sector where the implants segment occupies the majority of the demand.

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Technavio’s analysts categorize the global biomedical metal market into four major segments by metal type. They are:

• Stainless steel
• Titanium
• Cobalt-based alloy
• Others

The top three segments based on the metal type for the global biomedical metal market are discussed below:

Global biomedical stainless-steel market

Stainless steel is the most commonly used biomedical metal. It has high corrosion resistance and low carbon content, which makes it more suitable for medical applications. It is also recyclable, inert, durable, easy to clean, wear and corrosion resistant, and hygienic.

According to Mahitha Mallishetty, a lead metals and minerals research analyst from Technavio, “Stainless steel is mostly used in surgical implants and dental applications. In medical applications, different grades of stainless steel are used in implants such as bone fixation screws and prosthetic joints. It does not react with chemicals and biological substances that are present in a human body.”

Global biomedical titanium market

Titanium is a widely-used biomaterial because of its excellent specific strength and corrosion resistance properties. It is non-allergic and has the best biocompatibility among other metallic biomaterials. It is non-magnetic and non-radio-opaque and is compatible with bones and tissues.

“The advantage of using titanium as a biomaterial is that it adheres easily to the bone without any addition coating. In the dental application segment, titanium-nickel-memory metal is used for correcting bracing,” says Mahitha.

Global biomedical cobalt-based alloys market

Cobalt-based alloys have better mechanical strength, elasticity, abrasion resistance, and corrosion resistance than that of stainless steel. Cobalt-based alloys are widely used in orthopedic implants. However, biocorrosion of these alloys is one of the major problems as they release significant amounts metal ions that cause adverse effects.

Cobalt-based alloys are mostly used for hip replacement devices. Owing to high wear and corrosion resistance, these alloys are mostly used as femoral heads in joint prostheses in conjunction with an ultra-high molecular weight polyethylene cup.

The top vendors highlighted by Technavio’s research analysts in this report are:

• Carpenter Technology
• Dentsply Sirona
• Wright Medical Group
• Zimmer Biomet

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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