Metal implants and medical alloys are popular in the medical sector to counteract the effects of ageing or reconstruct a damaged body part. Here is a preview on what to expect in the sector.
In today’s world, more people are vulnerable to accidents and traumas from technological and socioeconomic evolution. From patients suffering from cancer, to those who had to undergo transplants and reconstructive procedures, metal implants have become increasingly popular to help individuals restore their daily lives as much as possible.
A Booming Market
Reports and Data released a paper which revealed the global metal implants and medical alloys market was valued at US$ 11.97 billion in 2020. It is expected to reach US$ 23.96 billion 2028, at a CAGR of 9 percent.
These are extensively used in cases of chronic disorders, accidents, or reconstructive surgeries. Approximately 17.7 million reconstructive procedures were performed in the United States, according to the American Society of Plastic Surgeons (ASPS).
The metal implants serve a replacement of the damaged part of the body and remove the retrains of the ongoing body functions. Selection of metals for metal implants is generally done on the basis of bio-compatibility of the metal.
The metals permitted for use in implants and alloy formation have to be bio-compatible, which are easily adapted in the body and extremely inert (inactive). Vitallium, an alloy made of cobalt-chromium (CoCr) is widely used in dental procedures and commands a huge demand.
Titanium is also a popular alternative for the same properties, albeit it also has a presence in the orthopedic sector. While many other alternatives are under further studies for possible rejections or adverse effects, both CoCr and titanium remain as the choice of metals for surgical procedures.
Apart from that, the only deterrent in the growth is the lack of experienced surgeons to perform the operation. Essentially, titanium metal implants and medical alloys are expected to account for the largest share of the metal implants and alloys market.
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