North America Metal Implants and Medical Alloys Market

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

The market size for metal implants and medical alloys in North America is estimated to value USD 5.09 billion in 2022 and USD 8.02 billion by 2028, growing at a CAGR of 9.52% from 2022 to 2028.

Y-O-Y growth in the incidence of degenerative joint diseases is one of the key factors driving the metal implants and medical alloys market in North America. A repair can be performed on cartilage, bone, or trauma-damaged tissue using metal implants. The market growth for metal implants and medical alloys has been accelerated by several factors, such as the growing geriatric and obese population, the increasing number of road accidents and trauma cases, the rising demand for minimally invasive surgical procedures, and the rise in lifestyle disorders. In addition, developing on-demand, digitally enabled, and seamlessly integrated clinician-patient contacts to manage the patient base is projected to boost the pharmaceutical and healthcare business in the future.

Various novel combinations of wireless and high-frequency technologies, monitoring, recording, and others interact with medical implants due to the market's expansion. Active implants with an energy or power source, such as a battery, are also being developed by companies. Furthermore, neuroprosthetics is a broad field of metal implants that is continuously being investigated and improved. There has been an uptick in public-private vaccination research collaborations due to increased demand from regional governments. Health-care providers and other stakeholders have spent a lot of money pivoting, adapting, and inventing therapies at a quick pace.

Despite a vast target patient population, the severe shortage of surgeons available to handle the growing demand for surgeries is projected to limit implant adoption in the coming years. Metal implant procedures are challenging and risky because the patient may suffer significant trauma if the medical procedure fails. Furthermore, the cost of medical implants is relatively high, hindering expansion in the North American market. Moreover, the market has difficulties in impoverished nations due to a lack of understanding of such implants. Since 2020, COVID-19 has considerably slowed the growth of the metal implants and medical alloys market.

This research report on the North American 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:

• The United States

• Canada

• Rest of North America

Due to the expanding geriatric population, North America is predicted to have a significant share of metal implants and medical alloys worldwide throughout the forecast period. By the year 2040, an estimated 78 million (24.9%) adults over 18 will have a diagnosis of arthritis, the Centers for Disease Control and Prevention (CDC) estimates. The regional market is developing due to the presence of well-established healthcare institutions in the region and the deployment of innovative technologies in the metal implants and medical alloys sector. From 2022 to 2027, the United States is predicted to have the highest share in this region, followed by Canada. In addition, the American Academy of Implant Dentistry (AAID) estimates that approximately 3 million Americans have dental implants. Accordingly, the rising incidence of chronic diseases such as cardiovascular disorders, congenital disorders, neuropathic conditions, and osteoarthritis, along with the introduction of technologically advanced products, have been the key factors driving the metal implants and medical alloys market.

KEY MARKET PLAYERS:

Companies playing a prominent role in the North American 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.