Global Biomedical Metal Market 2017-2021
About Biomedical Metal
Biomedical metals are used in the medical sector for their properties such as corrosion and wear resistance. They find applications in medical and dental implants as well as surgical equipment and other medical devices. The growing healthcare industry, with advancements in technology, has increased the demand for biomedical metals that are used in various medical treatments.
Technavio’s analysts forecast the global biomedical metal market to grow at a CAGR of 7.44% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global biomedical metal market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biomedical Metal Market 2017-2021
Technavio recognizes the following companies as the key players in the global biomedical metal market: Carpenter Technology, Dentsply Sirona, Wright Medical Group, and Zimmer Biomet.
Other Prominent Vendors in the market are: Arthrex, DePuy Synthes, Heraeus Holding, Materion, and Supra Alloys.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emerging medical tourism in developing economies. The medical devices industry is growing as the vendors are expanding their businesses by gradually moving to offshore regions. Many medical device innovation centers are dominated by the US.”
According to the report, one driver in the market is rise in demand for stainless steel in medical applications. Stainless steel is widely used in various medical applications such as implants, surgical instruments, dental fixtures, and so on. Properties such as corrosion and wear resistance, inertness, durability, cost effectiveness through mass production, recyclability, and easy to clean and sterilize have made stainless steel a suitable material for medical applications.
Further, the report states that one challenge in the market is high cost of development and maintenance. Biomedical metal manufacturers should invest huge amounts in developing metal products used in medical applications. This is because of the quality and performance that are expected from these products by end-users. Biomedical metal manufacturers should maintain the quality of products to sustain in the market, which will, in turn, increase the manufacturer's cost of production.
Carpenter Technology, Dentsply Sirona, Wright Medical Group, Zimmer Biomet, Arthrex, DePuy Synthes, Heraeus Holding, Materion, and Supra Alloys.
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