The Polyether ether ketone (PEEK) is a thermoplastic polymer characterized by heat resistance, mechanical strength and biocompatibility which makes it suitable for medical implant applications. PEEK is used to manufacture cranial and spinal implants, dental crowns, bridges and bone fillers owing to its advantage over titanium, stainless steel and other metals.
The global PEEK Implants Market is estimated to be valued at US$ 982.08 billion in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of PEEK in dental implants is expected to drive the market growth over the forecast period. PEEK provides an exceptional biocompatibility resembling the natural bone structure and does not interfere with diagnostic imaging modalities like CT and MRI scans. It has a modulus of elasticity closer to human bone and reduces stress shielding as compared to titanium implants. In addition, PEEK implants can be easily customized as per patient's anatomical structure using 3D printing technology. Due to its superior advantages, more number of dentists and surgeons are opting for PEEK based dental implants thus accelerating the market growth.
Segment Analysis
The global PEEK implants market size is dominated by the knee and hip implants sub-segment. PEEK implants are becoming increasingly popular for knee and hip replacement procedures as PEEK provides similar strength and elasticity to natural bones, making it a preferable choice over traditional metal alloys. PEEK causes less irritation, has a lower risk of revision surgeries, and allows for easy detection under diagnostic imaging tests. These advantages have resulted in the knee and hip implants sub-segment accounting for over 60% of the global PEEK implants market share.
Key Takeaways
The global PEEK implants market is expected to witness high growth over the forecast period of 2024 to 2031. The global PEEK Implants Market is estimated to be valued at US$ 982.08 billion in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031.
Regional analysis: North America currently dominates the global PEEK implants market and is expected to maintain its leading position over the next few years as well. The large market share of the region can be attributed to the significant prevalence of orthopedic surgeries in countries like the US and Canada coupled with advanced healthcare infrastructure and higher acceptance of novel implant materials like PEEK among surgeons and patients.
Key players: Fresnillo PLC and operate in the global PEEK implants market. Fresnillo PLC has a strong foothold in North America while has a wider international presence across European and Asian countries. Both companies have extensive product portfolios catering to knee, hip and spinal implants using PEEK material. They are constantly investing in R&D to develop 3D printed and customized PEEK implants.
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