Metal Implants & Alloys: World Market Outlook to 2024 - Growth in the Number of Hospitals & Surgical Centers Spells Opportunity

DUBLIN, July 8, 2019 /PRNewswire/ -- The "Metal Implants & Medical Alloys Market by Type (Titanium, Stainless Steel, Cobalt Chrome), Application (Orthopedic, Dental, Spinal Fusion, Craniofacial, Pacemaker, Stent, Defibrillator, Hip, Knee, & Shoulder Reconstruction) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

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The metal implants and medical alloys market is projected to reach USD 17.64 billion by 2024 from USD 11.25 billion in 2019, at a CAGR of 9.4%.

The report analyzes the various metal implants and medical alloys and their adoption patterns. It aims at estimating the market size and future growth potential of the metal implants and medical alloys market for different segments (type, application, and region). The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.

The prominent players in the global metal implants and medical alloys market are Carpenter Technology Corporation (US), Royal DSM (Netherlands), Johnson Matthey Plc (UK), ATI Specialty Alloys & Components (US), Ametek Specialty Products (US), Aperam S.A. (Luxembourg), QuesTek Innovations LLC (US), and Fort Wayne Metals (US).

The metal implants and medical alloys market is projected to grow at a CAGR of 9.4% from 2019 to 2024

Growth in this market is driven by the growing geriatric population globally; rising prevalence of chronic disorders such as cardiovascular, orthopedic, and neurological diseases; the launch of technologically advanced products; the growing number of accident and trauma cases as well as sports-related injuries. However, the high cost of implants and stringent product approval process are expected to restrain the growth of this market to a certain extent during the forecast period.

The titanium segment to witness the highest growth in the metal implants and medical alloys market during the forecast period

On the basis of type, the metal implants and medical alloys market is segmented into titanium, stainless steel, cobalt chromium, and other metal implants and medical alloys. The titanium segment is expected to register the highest CAGR during the forecast period. Titanium is a biologically inert biomaterial as it remains unchanged when implanted in the human body. It forms a surface layer of titanium dioxide when it comes in contact with air or water, which protects and stabilizes the metal. This is a major factor driving market growth.

The increasing prevalence of orthopedic disorders is expected to drive the orthopedic applications segment

On the basis of application, the metal implants market is further segmented into orthopedic, cardiovascular, dental, craniomaxillofacial, and neurological applications. The orthopedic applications segment is expected to command the largest share of the market due to the growing global geriatric population, increasing prevalence of orthopedic disorders, growing number of accident/trauma cases, increasing adoption of minimally invasive procedures, better clinical outcomes, and technological advancements.

The APAC market is projected to witness the highest growth between 2019 and 2024

The APAC market comprises China, Japan, India, and RoAPAC and is projected to grow at the highest CAGR in the metal implants and medical alloys market during the forecast period. Growth in the Asia Pacific market is primarily driven by the presence of a large patient population, improving healthcare infrastructure, growing per capita income, increasing health awareness, and the increase in the number of trauma/accident cases.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Limitations
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Approach
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study

3 Executive Summary

4 Premium Insights
4.1 Metal Implants and Medical Alloys: Market Overview
4.2 Metal Implants and Medical Alloys Market: Geographic Overview (2018)
4.3 Regional Mix: Metal Implants and Medical Alloys Market (2019-2024)
4.4 Asia Pacific: Metal Implants and Medical Alloys Market, By End User & Country (2018)
4.5 Metal Implants and Medical Alloys Market: Developed Vs. Developing Markets

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric & Obese Populations
5.2.1.2 Increasing Number of Road Accidents & Trauma Cases Globally
5.2.1.3 Growing Demand for Minimally Invasive Surgical Procedures
5.2.1.4 Increasing Incidence of Lifestyle Disorders
5.2.2 Restraints
5.2.2.1 High Cost of Metal Implants
5.2.2.2 Shortage of Skilled Surgeons
5.2.3 Opportunities
5.2.3.1 Emerging Countries
5.2.3.2 Growth in the Number of Hospitals & Surgical Centers
5.2.4 Challenges
5.2.4.1 Lack of Awareness About the Availability of Advanced Implants
5.2.4.2 Uncertainties in Reimbursements

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Additive Manufacturing
6.2.2 Growing Focus on Biodegradable Metals
6.3 Regulatory Analysis
6.3.1 North America
6.3.1.1 US
6.3.1.2 Canada
6.3.2 Europe
6.3.3 Asia Pacific
6.3.3.1 Japan
6.3.3.2 China
6.3.3.3 India
6.3.4 Rest of the World
6.4 Vendor Benchmarking

7 Metal Implants and Medical Alloys Market, By Type
7.1 Introduction
7.2 Titanium
7.2.1 Titanium is the Most Commonly Used Material for Implants Due to Its Greater Corrosion-Resistance Properties as Compared to Other Materials
7.3 Stainless Steel
7.3.1 Stainless Steel is Popular in Surgical Practices as It is the Most Corrosion Resistant When in Direct Contact With a Biological Fluid
7.4 Cobalt Chromium
7.4.1 Cobalt-Chromium is One of the Most Widely Used Metals in Hip and Knee Implants
7.5 Other Metal Implants and Medical Alloys

8 Metal Implants and Medical Alloys Market, By Application
8.1 Introduction
8.2 Orthopedic Implants
8.2.1 Joint Reconstruction Devices
8.2.1.1 Knee Reconstruction Devices
8.2.1.1.1 the Increasing Number of Knee Replacement Procedures Across the Globe is Likely to Drive Market Growth
8.2.1.2 Hip Reconstruction Devices
8.2.1.2.1 Mobile Bearing Implants are a Recent Development in This Market Segment
8.2.1.3 Shoulder Reconstruction Devices
8.2.1.3.1 Shoulder Reconstruction is the Third-Most-Common Joint Replacement Surgery Conducted Globally
8.2.1.4 Other Joint Reconstruction Devices
8.2.2 Trauma Fixation Devices
8.2.2.1 Metal Plates & Screws
8.2.2.1.1 Growing Prevalence of Degenerative Joint Diseases and Growth in the Aging Population are Driving the Market
8.2.2.2 Wires
8.2.2.2.1 Wires Can be Used Alone or in Combination With Other Fixation Devices
8.2.2.3 Pins
8.2.2.3.1 Pin Fixation is Mostly Used for Fractures of the Phalanges, Metacarpals, and Metatarsals
8.2.2.4 Nails & Rods
8.2.2.4.1 Their Rigidity, Cost-Efficiency, and Easy Mobilization Have Driven the Demand for Nails & Rods
8.2.3 Spinal Implants
8.2.4 Spinal Fusion Devices
8.2.4.1 Spinal Fusion Devices are Made of Titanium, Titanium Allow, and Stainless Steel
8.2.5 Motion Preservation Devices
8.2.5.1 Motion Preservation is Rapidly Replacing Spinal Fusion
8.2.6 Vertebral Compression Fracture Devices
8.2.6.1 Low Diagnosis Rate of Fractures and High Risk of Adjacent-Level Fractures are Major Challenges Limiting the Growth of the Market
8.2.7 Spinal Decompression Devices
8.2.7.1 Growing Incidences of Spinal Tumors and, Development of Minimally Invasive Devices are Driving Market Growth
8.3 Cardiovascular Implants
8.3.1 Stents
8.3.1.1 With the Rising Number of Coronary Intervention Procedures Performed Worldwide, the Demand for Stents is Set to Increase
8.3.2 Implantable Cardioverter Defibrillators
8.3.2.1 Advancements in Defibrillators Have Greatly Driven Their Adoption
8.3.3 Implantable Cardiac Pacemakers
8.3.3.1 Pacemaker Implant Rates Have Grown in Line With the Rising Geriatric Population
8.3.4 Guidewires
8.3.4.1 Adoption of Zig-Zag Wire Technology has Increased Due to Its Ease of use and Higher Success Rate
8.3.5 Mechanical Heart Valves
8.3.5.1 Possibility of Blood Clot Formation Associated With Valves Leaves Patients Reliant on Daily Doses of Anticoagulant Drugs
8.4 Dental Applications
8.4.1 Dental Implants
8.4.1.1 Titanium is a Key Component of Dental Implants
8.4.2 Orthodontic Appliances
8.4.2.1 Orthodontic Fixed Braces are the Most Common Type of Orthodontic Non-Removable Appliances
8.4.3 Metallic Bridges and Crowns
8.4.3.1 Metallic Crowns Require Less Removal of the Original Tooth Material as Compared to Other Crown Types
8.5 Craniomaxillofacial Implants
8.5.1 Titanium and Vitallium are the Most Preferred Materials for Craniomaxillofacial Implants
8.5.2 Facial Implants
8.5.2.1 Increasing Incidence of Congenital Deformities and the Rising Number of Road Accident Injuries are Driving Market Growth
8.5.3 Cranial Implants
8.5.3.1 Cranial Implants Account for the Largest Share of the Craniomaxillofacial Implants Market
8.6 Brain Implants
8.6.1 Rising Disease Incidence is Driving Demand for Brain Implants

9 Metal Implants and Medical Alloys Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 The US is the Largest Market for Metal Implants and Medical Alloys Globally
9.2.2 Canada
9.2.2.1 Rising Prevalence of Chronic Diseases to Support Market Growth in Canada
9.3 Europe
9.3.1 Germany
9.3.1.1 Germany Holds the Largest Share of the European Metal Implants and Medical Alloys Market
9.3.2 UK
9.3.2.1 Rising Prevalence of Chronic Diseases to Drive Market Growth in the UK
9.3.3 France
9.3.3.1 Presence of a Strong Healthcare System in France Allows the Adoption of Technologically Advanced Products for the Management of Various Disease Conditions
9.3.4 Italy
9.3.4.1 Rising Geriatric Population and the Subsequent Increase in the Incidence of Various Age-Related Disorders to Increase the Demand for Metal Implants and Medical Alloys in Italy
9.3.5 Spain
9.3.5.1 One-Third of Spain's Population is Expected to be Over 65 Years of Age By 2050
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 China to Hold the Largest Share of the APAC Market During the Forecast Period
9.4.2 Japan
9.4.2.1 Growth in the Aging Population and Consequent Rise in Disease Prevalence Will Contribute to Market Growth
9.4.3 India
9.4.3.1 The Indian Market is Among the Fastest-Growing in APAC
9.4.4 Rest of Asia Pacific
9.5 Latin America
9.5.1 The Prevalence of Cvd and Neurological Diseases has Increased in Latin America
9.6 Middle East & Africa
9.6.1 A Number of Middle Eastern Countries are Investing in the Modernization of Their Healthcare Systems

10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping, 2018
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Market Ranking Analysis
10.4 Competitive Situation and Trends
10.4.1 New Product Launches
10.4.2 Agreements, Partnerships, and Joint Ventures
10.4.3 Expansions
10.4.4 Acquisitions

11 Company Profiles
11.1 Carpenter Technology Corporation
11.1.1 Business Overview
11.1.2 Products Offered
11.1.3 Recent Developments
11.1.4 SWOT Analysis
11.2 Royal DSM
11.3 Johnson Matthey PLC
11.4 Fort Wayne Metals
11.5 ATI Specialty Alloys & Components
11.6 Ametek Specialty Metal Products
11.7 QuesTek Innovations LLC
11.8 Wright Medical Group
11.9 Zimmer Biomet Holdings Inc.
11.10 aap Implantate AG
11.11 Depuy Synthes
11.12 Aperam S.A.

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