Growing Preference for Titanium Alloys and Zirconium to Reshape Future of Implantable Medical Devices, reports TMR Date: 03-09-2017 07:22 PM CET Category: Health & Medicine Press release from: Transparency Market Research - Medical Devices
The global implantable medical devices market features a largely consolidated competitive landscape, with the top five companies accounting for a share of more than 50% in 2015, reports TMR in a recent report. These companies, including Zimmer Biomet, Johnson & Johnson, Stryker Corporation, Medtronic plc, Institut Straumann AG, hold sway owing to innovation, rapid introduction of newer and more effective product varieties, and presence across several key regional markets. Being a technology- and research-intensive field, governed by stringent approval regulations, the implantable medical devices market faces a low threat of new entrants in the next few years. However, the introduction of more promising substitutes to traditionally used materials is expected to intensify competition. Download Exclusive Brochure of This Report : www.transparencymarketresearch.com/sample/sample.php?flag... Transparency Market Research estimates that the global implantable medical devices market will witness expansion at a healthy 4.9% CAGR over the period between 2016 and 2024. At this pace, the market, which had a valuation of US$32.3 bn in 2015, is expected to rise to US$49.8 bn by 2024. Of the key materials used for manufacturing medical implants, titanium is presently the most preferred but is expected to lose its prominence to other options such as titanium alloys and zirconium. Over the period between 2016 and 2024, the market for titanium implants is expected to expand at a 4.7% CAGR. The markets for titanium alloy implants and zirconium implants are expected to expand at 5.5% and 6.4% CAGR over the same period, respectively. Rising Prevalence of Chronic Degenerative Disease and Dental Problems to Stimulate Demand for Implantable Medical Devices Globally A plethora of factors are boosting the global consumption of medical implantable devices. Some of the chief ones of these are the rising numbers of people suffering from chronic degenerative diseases such as arthritis and cardiovascular issues and the high prevalence of dental problems, which could require orthodontic and periodontics interventions. While busy lifestyles,
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unhealthy dietary habits, lack of physical activities, and rising geriatric population are triggering chronic health diseases, the rising intake of junk/fast food is leading to the increased incidences of dental issues. Over the next few years, these factors are expected to arise as high-impact drivers of the global implantable medical devices. Along with these factors, the rising prevalence of a number of congenital diseases and the increased awareness and consciousness regarding body’s appearance, and the alleged boost to self-esteem that cosmetic surgeries bring, have also been underlined as the key drivers of the global implantable medical devices market. The increased awareness regarding body aesthetics has given a huge boost to the market for dental surgeries involving implantations, thus driving the global implantable medical devices market. Concerns Regarding Corrosion, Developments in Surgical Field Threaten to Hurt Demand for Conventional Implants Studies have demonstrated that implants made from materials such as nickel and chromium are prone to corrosion and can trigger cancers. Implants made from cobalt alloy are known to pose risks to human health owing to in vivo ion release; polyethylene implants could be a potential trigger for bone lysis and localized tissue ruptures. Owing to the potential health issues that many varieties of implants cause, patients are more prone to opt for other alternatives. Along with this, the vast developments in the surgical field could also stimulate the consumer to prefer surgeries that promise minimal risk to health. Moreover, the high costs of medical implants and the concerns regarding post-implantation infections, which may add to the overall cost of implanting a medical device in the body, are also restraining the overall growth prospects of the global implantable medical devices market to a certain extent. This review is based on a recent report by Transparency Market Research, titled “Implantable Medical Devices Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024.� Browse Global Strategic Business Report: www.transparencymarketresearch.com/global-implantable-med... For this study, the market has been segmented as follows: Implantable Medical Devices Market, by Product Type Orthopedic Implants Spinal Implants Thoracolumbar Implants Intervertebral Spacers Non-bone Implants Reconstructive Joint Replacement Shoulder Implants Ankle Implants Elbow Implants Hip Implants Knee Implants Dental Implants Cardiovascular Implants Implantable Medical Devices Market, by Material Stainless Steel Cobalt Chromium (Co-Cr) Alloy Titanium Titanium Alloy Zirconium Implantable Medical Devices Market, by End-user
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Hospitals +500 Beds 200-499 Beds Less than 200 Beds Ambulatory Surgery Centers (ASCs) Clinics Implantable Medical Devices Market, by Geography North America Western Europe Eastern Europe Asia Pacific Ex. Japan Japan Middle East & Africa Latin America About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge. Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement. US Office Contact 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: sales@transparencymarketresearch.com Website: www.transparencymarketresearch.com You can find this press release here
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