London, 25 March 2015: Technavio, the independent tech-focused global research firm, has published a report on the Global Biomedical Metal Market 2015-2019, which is expected to grow steadily during the forecast period of 2014-2019, posting a CAGR of 7.27 percent.
There is a robust demand for reconstructive joint replacement, spinal, orthopedic, and cardiovascular implants. The metals used for making implants are generally non-magnetic and have high density.
Several medical equipment companies in North America and Europe are subcontracting their manufacturing processes to the APAC region, especially to China, India, and South Korea, to reduce overall manufacturing costs, which is increasing the demand for biomedical metal products in this region.
“Titanium-based alloys have exceptional mechanical, physical, and biological properties. These alloys are being developed as an alternative to orthopedic implants as they ensure ideal biological fixation through ingrowth of bone tissue,” says Faisal Ghaus, Vice President of TechNavio.
“Titanium-based alloys have biochemical properties such as stiffness, fracture toughness, strength, fatigue strength, corrosion resistance, wear and tear resistance, and biocompatibility.”
Key Market Drivers
- Increased Demand for Orthopedic Implants
- Need for Lightweight and Corrosion-resistant Products
- Growth in Aging Population
Key Market Trends
- New Developments in Titanium-based Alloys
- Use of Metal Foam as Biomedical Implants
- Platinum in Biomedical Applications
- Demand for Osseointegration
- Use of Magnesium-based Alloys
Key Market Vendors
- Biomet Inc.
- DENTSPLY International Inc.
- Invibio Ltd.
- Wright Medical Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
