The rising cases of road traffic accidents and chronic disorders have fueled the metal implants and medical alloys market.

NEW YORK , NEW YORK, UNITED STATES, September 23, 2021 /EINPresswire.com/ -- According to the current analysis of Reports and Data, the metal implants and alloys market 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.

The lack of trained professionals is a restraint for the market. The metal implant surgeries are complex and risky as these implants may cause severe trauma to the patient if the medical procedure fails. Also, the cost of medical implants is quite high, which would significantly hamper the growth of the market. Lack of awareness about such implants in developing countries is a challenge for the market.

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Key participants include

Carpenter Technology Corporation, 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.)

Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.

Further key findings from the report suggest

Various new combinations of technologies such as wireless and high frequency technologies, monitoring, recording and others are collaborated with medical implants owing to the growth of the market.

Furthermore, implants fitted using energy or power source such as a battery called as active implants are being developed by companies. Neuroprosthetics is a huge field in the metal implants under research and development. For instance, Cortec has developed a closed loop system which measures and stimulates the activity of brain.

Additive manufacturing or 3-D printing is escalating the development in implants. A company called Tsunami Medical S.r.l in Italy has developed custom spine cages. Spine cages, used for leveling and relieving pressure on spine, are made using titanium and additive manufacturing. Although titanium is a widely used metal for developing these cages, it is more rigid than bones and has shown to affect the bone structure.

The metal alloy Niobium is in growing interest in the market owing to the metal’s inertness and physiological compatibility. It is significantly used in pacemaker devices for the heart

Regionally, North America consumed the largest share in the market. The reason for the same is expected to be the rise in chronic disorders in the region. For instance, 1.05 million people have had coronary events in 2019 in the US according to American College of Cardiology.

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For the purpose of this report, Reports and Data has segmented the metal implants and medical alloys market on the basis of type, application, end use and region:

By Type Outlook (Revenue in Million USD; 2020–2028)

Titanium

Stainless Steel

Cobalt- Chromium alloys

Other metals

Gold

Silver

Magnesium alloys

Application Outlook (Revenue in Million USD; 2020–2028)

Orthopedic reconstruction surgeries

Knee Reconstruction

Shoulder Reconstruction

Joint Reconstruction

Hip Reconstruction

Others

Cardiovascular Applications

Defibrillators

Pacemakers

Stents

Mechanical Heart Valves

Guidewires

Trauma Fixation Devices

Metal Plates & Screws

Wires

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)

Hospitals

Clinics

Ambulatory surgery centers

Others

Key Regional Markets Studied in the Report:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Major Highlights of the Metal Implants And Medical Alloys Market Report:

The Metal Implants And Medical Alloys market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Metal Implants And Medical Alloys market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

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