Rising Incidence of Cardiovascular Disease Fuel Demand for PEEK

The medical PEEK industry has garnered $582.4 million revenue, and it is projected to rise at a 7.8% CAGR from 2021 to 2030, to generate $1,146.6 million revenue in 2030.

Over the last few years, the industry for medical-grade engineered plastics has experienced a rise in FDA approvals for in-vitro and in-vivo uses and the advantages they offer. The rising progress in the growing replacement of metallic implants with PEEK is led by rising healthcare funding by the government and private sector.

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The high-performance plastic is widely used for cardiovascular devices, trauma fixation, dental implants, and various other medical applications. Concerning this, the rising elderly population in North American, Asian, and European countries and the increasing prevalence of sports injuries are projected to boost industry growth in the coming years.

The rising prevalence of cardiac vascular issues, including heart attacks, coronary artery disease, and stroke is projected to rise. It accounts for 0.7 million U.S. population suffering from heart disease, while more than 0.8 million people suffer from heart attacks every year.

Dental implants are experiencing high PEEK usage, led by its ability to replace titanium, and it is projected to experience growth at an 8.5% rate in the coming years.

Therefore, the surging usage of semi-crystalline engineering thermoplastics for cardiovascular, trauma fixation, orthopedic and orthodontic applications is projected to fuel the sales of medical PEEK.

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North America holds the largest industry share. Moreover, the U.S.-based industry is projected to experience rapid growth in the near future, due to the growing penetration of healthcare facilities and media device innovations.

Therefore, the rising demand for PEEK is ascribed to the growing prevalence of cardiac diseases.

Browse more published reports:

Dental Implants and Prostheses Market - https://www.psmarketresearch.com/market-analysis/dental-implants-market

3D Bioprinting Market Report - https://www.psmarketresearch.com/market-analysis/3d-bioprinting-market

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This release was published on openPR.