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Metal Implants and Medical Alloys Market Size to Hit US$ 19.5 Bn By 2026

/EIN News/ -- Acumen Research and Consulting, Recently Published Report on “Metal Implants and Medical Alloys Market Size, Share, Growth, Trends and Forecast 2019 - 2026”.

LOS ANGELES, Dec. 12, 2019 (GLOBE NEWSWIRE) -- The global metal implants and medical alloys market is expected to grow at a CAGR of around 9.2% from forecast period 2019 to 2026 and reach the market value of over US$ 19.5 Bn by 2026.

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The Asia Pacific region is projected to register maximum growth over the forecast period from 2019 to 2026 owing to improving healthcare infrastructure coupled with the rising awareness among the residents. In 2019, researchers from IIT Roorkee, India have come up with a new method to improve orthopedic implants by minimizing the chances of bacterial infections at the implant site. The new method is particularly focusing on antibacterial drug coating on the surface of metallic implants that will prevent infection by gradually releasing the drug on the implant site. Furthermore, the region is also gaining positive growth due to the high incidences of accidents.

By type, titanium segment is expected to account for the maximum market share over the forecast period. Based on type the titanium segment is projected to exhibit maximum share during the forecast period from 2019 to 2026 owing to its properties of high strength, rigidity and biocompatibility along with the greater strain-bearing capacity, and corrosion resistance. Moreover, a company named Carpenter Technology has introduced CARTECH PURIS 5+ in 2017, a high-strength, low-oxygen titanium powder solution.

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The orthopedic implants segment is likely to lead by application during the forecast period from 2019 to 2026. The rising prevalence of orthopedic disorder particularly for joint reconstruction is supporting the segment growth. For instance, Garwood Medical Devices LLC. has received a “Breakthrough Device” designation from FDA for BioPrax device. It’s a tool developed to eliminate biofilm infections on prosthetic knee implants. Also, Texas-based DiFusion Technologies, Inc. has announced that a pro-macrophage spinal implant named Xiphos-ZF has received clearance for commercial sale in the US from FDA in November 2019.

Some of the leading global competitors in the metal implants and medical alloys market are ATI Specialty Alloys & Components (US), Ametek Specialty Products (US), Aperam S.A. (Luxembourg), QuesTek Innovations LLC (US), Fort Wayne Metals (US), Carpenter Technology Corporation (US), Royal DSM (Netherlands), and Johnson Matthey Plc (UK). Metal implants and medical alloys companies have announced mergers and acquisitions to expand their position in the metal implants and medical alloys industry. For instance, Carpenter Technology Corporation has announced the acquisition of LPW Technology Ltd. in 2018 for a total of around US$81 million. The acquisition is intended to produce highly engineered metal powders additively manufactured components. In the same year, the company has also acquired MB CalRAM LLC, a manufacturer of powder-bed fusion additive metal printing services. Major players are also moving into new regions and advanced technologies.

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For instance, Carpenter Technology Corporation has acquired LPW Technology Ltd. in 2018 for around US$ 81Mn to produce highly engineered metal powders and additively manufactured components. The company has also acquired a manufacturer of powder-bed fusion additive metal printing services, MB CalRAM LLC in the same year.

Some of the key observations regarding metal implants and medical alloys industry include:

  • RMIT University, Melbourne, Australia’s researchers have reported that the nanodiamonds coated medical implants can enhance the biocompatibility of titanium additively manufactured orthopedic implants.
  • The Smith & Nephew has launched a system based on OXINIUM technology named OR3O Dual Mobility System in 2019. It is designed for use in primary and revision hip arthroplasty.
  • NUS Centre for Additive Manufacturing (AM.NUS) and TÜV SÜD likely to introduce 3D-printed implants in humans.
  • According to C&EN’s annual survey 2019, Johnson Matthey is listed under the top 50 global chemical companies in 47th position.
  • A global engineering company, Renishaw is creating lightweight spinal implants using additive manufacturing (AM) technology that can reflect the mechanical characteristics of bone.
  • FDA planed an advisory panel to discuss immunology concerns about metal implants and dental alloys in November 2019.
  • Zimmer Biomet Holdings, Inc. has received 510(k) clearance from FDA in January 2018 for Persona Trabecular Metal (TM) Tibia. Trabecular Metal (TM) is a porous biomaterial made from elemental Tantalum.
  • In 2019, the FDA announced that it is proposing new guidelines for Nitinol implants testing. It’s a titanium-nickel alloy having great importance in medical implants. According to an article published in The Journal of Hand Surgery in 2018, Nitinol is used in orthopedics for internal fixation by the use of fixatives.
  • According to a study done by the researchers in New York from the Hospital for Special Surgery (HSS), the dual mobility hip implant reduces the risk of dislocation. The study was held in 2018 by Geoffrey Westrich, M.D., with colleagues from HSS and other joint replacement centers.

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