PEEK implants are lightweight, colorless and radiolucent biomaterial used for medical implants and surgical procedures. It replaces traditional metals, plastics and ceramics as the base for bone fracture and spinal fusion implants due to its advantages like biocompatibility, durability & imaging compatibility. PEEK implants have high tensile strength and modulus of elasticity similar to bone making it suitable for load bearing bones and joints.
The global PEEK Implants Market is estimated to be valued at US$ 852.5 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The demand for PEEK implants is increasing rapidly due to growing prevalence of orthopedic diseases and rising elderly population worldwide which is prone to bone diseases. PEEK implants are highly desirable for dental and spinal fusion procedures owing to their bio-compatibility and strength. Technological advancements with development of 3D printing technology for customized PEEK implants have increased its application in complex surgeries. Rising awareness among patients and physicians about benefits of durable bioimplants is fueling the adoption of PEEK implants over traditional implants. This is a major trend driving the growth of global PEEK Implants market during the forecast period.
Segment Analysis
PEEK implants have achieved success as spinal implants, contributing to the largest revenue share. Properties such as biocompatibility, radiolucency, and toughness have enabled PEEK to become a common material for spinal fusion cages. Developments in 3D printing have allowed manufacturers to tailor cages of varying pore sizes and structures to better suit fusion requirements. This sub-segment is expected to continue dominating owing to the high incidence of spinal disorders and the benefits offered by PEEK over metal implants.
Key Takeaways
The Global PEEK Implants Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis shows that North America currently dominates the PEEK implants market. Factors such as the growing geriatric population, high incidence of osteoarthritis and other musculoskeletal disorders have been driving the demand for joint reconstruction and spinal fusion surgeries in the region.
Key players operating in the PEEK Implants are Invibio, PEEK Implants by Cendres+Métaux, SisoMM, MKPrecision, Evonik Industries AG.
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