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Medical Grade Titanium Materials Market Growth, Future Prospects and Competitive Analysis, 2017-2025

Overview:

Titanium is a widely used element which has a wide number of uses in human life. Due to the unique properties of titanium such as low density, high strength, anti-corrosion and high heat resistance, medical grade titanium materials find their way in several medical and healthcare applications. Currently, the medical and healthcare sector has been promoted from titanium materials owing to the unique ability of titanium to bond with the human bone as well as its excellent non-toxic property. There are several titanium based alloys which are used for numerous industries, although the titanium materials compatible with medical uses include titanium 6AL4V ELI and Titanium 6AL4V. These titanium materials are alloyed with vanadium (4%) and aluminum (6%). Also known as Grade 23 and Grade 5 medical grade titanium materials, they have an exceptional compatibility with the human body. There are various suppliers of medical grade titanium materials across the globe who specialize in providing titanium materials for specific medical applications. In addition, titanium Ti-6Al-4V ELI and Ti-6Al-4V are widely used for dental implants. A titanium screw is implanted inside the jaw, which acts as the root of the tooth. Once the implant sets in the jaw bone, an artificial tooth is placed into the implant. Titanium materials are unreactive with body acids and fluids making it relatively durable and long-lasting. Medical grade titanium materials are utilized for prosthetics such as plates, pins, cages and rods that are inserted into the human body. Moreover, medical grade titanium materials find major applications in knee and hip replacement surgeries. Medical grade titanium materials are also used in shoulder and elbow replacement surgeries. Furthermore, medical grade titanium pegs are used in aesthetic procedures including stands for false eyelashes. Also, titanium heart valves are used widely in heart transplants and bypass surgeries.

Increasing number of orthopedic patients across the globe is escalating the demand for joint replacement surgeries which is driving the global medical grade titanium materials market. In addition, increasing number of bone related ailments especially among the geriatric population is further anticipated to accelerate the growth of the global medical grade titanium materials market. Moreover, technological advancements in introducing cost effective manufacturing procedures along with superior weight to strength ratio as compared to traditional options such as steel is projected to augment the market in the foreseeable years. Furthermore, increasing initiatives by the governments of several developed and developing economies to provide high-tech medical facilities coupled with increasing spending capacities of consumers are further expected to accelerate the overall market growth. However, scarcity of raw materials coupled with volatile prices are some of the major factors expected to hinder the market growth over the forecast period. Although, increase in investments on research & development for the introduction of more efficient and cost effective products is projected to tender lucrative opportunities for the key vendors in the coming years. 

The global medical grade titanium materials market is segmented on the following bases:

  • Type
    • Titanium 6AL4V
    • Titanium 6AL4V ELI
    • Others
  • Application
    • Medical Devices
    • Medical Implants
    • Bone Plates
    • Others (Screws, wires etc.)
  • Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • UK
      • France
      • Rest of Europe
    • Asia-Pacific (APAC)
      • China
      • India
      • Japan
      • Rest of APAC
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa (MEA)
      • GCC Countries
      • Rest of MEA

Key Players Identified for Medical Grade Titanium Materials Market Include but are Not Limited to:

Alcoa Inc., ATI Metals, AMETEK inc., Carpenter Powder Products, Daido Steel, Kyocera Medical Corporation, Puris LLC, Hermith GmbH, Westen Super Conducting, XI’AN Saite Metal Materials, Development Co. Ltd. and Western Metal Materials among other notable players.

This report offers:

  • An overview of the global markets for medical grade titanium materials market
  • Market trends assessment for the period 2015-2025, with historical information for 2015, and projections through 2025, with respective CAGR during 2017-2025
  • Qualitative assessment tools such as market drivers, challenges and future prospects, and market attractiveness
  • Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics
  • A general overview of the industry structure
  • Company profiles highlighting key information about the major players operating in the medical grade titanium materials market
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