Europe Metal Implants and Medical Alloys Market

Europe Metal Implants and Medical Alloys Market Size (2023 to 2028)

The size of the European region's metal implants and medical alloys market is forecasted to be worth USD 6.99 billion by 2028 from USD 4.49 billion in 2023, growing at a CAGR of 9.27% from 2023 to 2028.

Metal implants and medical alloys are used in many minimally invasive surgical procedures involving orthopedic disorders such as herniated discs, degenerative diseases of the spine, an increasing number of sports injuries, tumors, spinal collapse, road traffic trauma impaired discs seen in syndrome cauda equina, spondylosis/spondylolisthesis, stenosis, pseudoarthrosis, hip fractures, rhinoplasty, partial knee injuries, and joint bone implants. The rising prevalence of degenerative neuron diseases and the growing geriatric population are driving the growth of the European metal implants and medical alloys market. According to Arthritis Research UK, around 18 million people are estimated to be living with musculoskeletal disease in the UK, representing about 29.1% of the total population, creating a high demand for orthopedic surgeries. According to a clinical Orthopedics and Related Research study, the risk of developing surgical site infections is 5.8 times higher in open operations than in minimally invasive surgeries.

Other factors affecting the growth rate involve the increasing incidence of chronic diseases such as cardiovascular disease, congenital disorders, oral and maxillofacial surgeries, and the launch of technologically advanced products. Dental implants have a positive effect on the growing market. According to a recent report, approximately 150,000 dental implants were used as a dental prostheses in the UK in 2015, and this number is estimated to have now doubled. Almost 98% of dental clinics in the UK use implants for prostheses of teeth. These various applications are responsible for the growth of the European metal implants and medical alloys market during the forecast period.

Newer technologies and devices are helping the market expand, with research for the most biocompatible metal with minor side effects gaining popularity. The use of metals in the medical field has grown tremendously, finding their use in the various device. In developing countries, where surgical procedures are increasing at a high rate, the use of metal will give longer sustainability and less frequent surgeries to correct the same issue. Metallurgy industry and business are building many small businesses to meet this growing demand in the European countries, which will lead to many growth opportunities in Europe.

However, European countries such as Germany and the UK are experiencing a shortage of surgeons in their respective healthcare systems; failing to meet the growing demand for procedures is expected to affect the European market negatively. In addition, the lack of adequate awareness and use of these metals and the cost of surgeries is expected to restraint the growth of this market.

This research report on the European metal implants and medical alloys market has been segmented and sub-segmented into the following categories.

By Type:

• Titanium
• Stainless Steel
• Cobalt-Chromium
• Other Metal Implants and Medical Alloys (Gold, Silver)

By Application:

• Orthopedic
• Dental
• Spinal Fusion
• Craniofacial
• Stent
• Others

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Geographically, the German market is expected to expand with a large dominant market share during the projected period, owing to high dental services in the region. The growing geriatric population, high prevalence of chronic disease, and high healthcare expenses will also drive this regional market. According to the Centers for Disease Control and Prevention (CDC), by 2040, about 79 million adults aged 18 and older will have arthritis.  According to the Lancet Commission on Global Surgery, there is high demand for minimally invasive surgeries.

Switzerland's regional market is expected to grow at the highest CAGR during the forecast period. The increase in adoption of advanced technologies in the metal implants and medical alloys market, expanding dental market, growing rate of road traffic accidents, and the presence of well-established healthcare institutions are boosting the growth of this regional market to a large extent. According to data released, around € 85 billion was spent on dental care in the European Union in 2019. Given that there were nearly 520 million EU citizens, this equates to about 165 euros per capita. Furthermore, the number of road fatalities increases steadily in this region, reaching 1.35 million in 2019, up from 1.05 million in 2000.

KEY MARKET PARTICIPANTS:

Companies playing a promising role in the European metal implants and medical alloys market profiled in this report are Carpenter Technology Corporation, Royal DSM, Johnson Matthey PLC, Fort Wayne Metals, ATI Specialty Alloys & Components, Ametek Specialty Metal Products, Questek Innovations LLC, Supra Alloys Inc., and Materion Corporation.