Market Trends of Metal Implants and Medical Alloys Industry
This section covers the major market trends shaping the Metal Implants & Medical Alloys Market according to our research experts:
Dental Segment Expected to Hold a Major Market Share in the Metal Implants and Medical Alloys Market
Dental implants are artificial tooth roots that can be surgically implanted in the jawbone. Dental implants are made up of two key components: the fixture and the abutment, which are typically made of zirconium and titanium. The growing burden of dental problems in the country, as well as the growing senior population, are driving segment growth. According to the research study in International Dental Journal in August 2022, dental caries and periodontal disease were common in Jiangsu, China, and oral illnesses remained a major problem for local residents in China. As a result of the country's high prevalence of dental problems, the demand for dental implants is predicted to rise during the research period.
Additionally, the geriatric population is more prone to dental diseases, which is likely to contribute to the growth of the segment. According to the World Population Prospects 2022, on November 15, 2022, the world's population is expected to surpass 8 billion. According to the United Nations' most recent forecasts, the global population might reach 8.5 billion in 2030, 9.7 billion in 2050, and 10.4 billion in 2100. Thus, the geriatric population is highly affected by dental diseases, thereby boosting segment growth.
Furthermore, product launch by the key market players is expected to boost the segment growth. For instance, in June 2022, ZimVie Inc. announced the US availability of the new, FDA-cleared T3 PRO Tapered Implant with Encode Emergence Healing Abutment. The T3 PRO is the newest member of ZimVie's dental implant family, and it builds on the proven solutions of the T3 Tapered Implant. Thus, all the above-mentioned factors are expected to boost segment growth.
North America Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global metal implants and medical alloys market due to the increasing geriatric population and growing prevalence of chronic diseases and product launches by the key market players.
According to the Centers for Disease Control and Prevention (CDC) updated in October 2021, compared to the 58.5 million individuals with arthritis in 2013-2015, it is predicted that by 2040, 78.4 million adults aged 18 and older (or 25.9% of the anticipated total adult population) are likely to be diagnosed with the condition. Furthermore, according to America's Health Rankings Senior Report published in 2021, the number of older adults living in the United States is significant and growing; by 2050, it is anticipated that there will be 85.7 million adults in the country who are 65 or older. Such a high prevalence of this disease and the aging population are likely to increase the adoption of metal implants, thereby boosting market growth.
Growing research and development activity is likely to support the market growth in the region. For instance, in December 2021, CHU de Québec-Université Laval and Investissement Québec CRIQ revealed Health Canada's clearance of the first 3D-printed medical implant by the 3D anatomical reconstruction laboratory (LARA 3D) at Investissement Québec - CRIQ's facilities in Quebec City, Canada. This is the first time a Canadian organization has been granted permission to manufacture a 3D-printed implanted medical device in Canada.
Thus, due to the abovementioned factors, the studied market is expected to grow during the study period in the region.
