Metal Implants and Medical Alloys Market Size, Value, Outlook, Growth, Trends and 2024 Forecast Analysis

2019 Research Report on Global Metal Implants and Medical Alloys Market is a professional and comprehensive report on the Metal Implants and Medical Alloys industry.

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Key Players: 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”

The metal implants and medical alloys market is projected to reach USD 17.6 billion by 2024 from USD 11.2 billion in 2019, at a CAGR of 9.4%. 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.

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“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 Ro APAC 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.

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In the end, the Global Metal Implants and Medical Alloys Market report’s conclusion part notes the estimation of the industry veterans.

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This release was published on openPR.