Market Insights
Titanium is a widely used element that has a wide variety of uses in human life. Due to the unique properties of titanium, such as its low density, high strength, anti-corrosion properties, and high heat resistance, medical-grade titanium materials find their way into several medical and healthcare applications. Currently, the medical and healthcare sectors are promoting titanium materials owing to the unique ability of titanium to bond with human bone as well as its excellent non-toxic property. There are several titanium-based alloys that are used in 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 exceptional compatibility with the human body. There are various suppliers of medical-grade titanium materials across the globe that specialize in providing titanium materials for specific medical applications. In addition, titanium (Ti-6Al-4V ELI and Ti-6Al-4V) is widely used for dental implants. A titanium screw is implanted inside the jaw, which acts as the root of the tooth.
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Once the implant has healed in the jaw bone, an artificial tooth is placed in it. Titanium materials are unreactive with body acids and fluids, making them 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.
The increasing number of orthopedic patients across the globe is escalating the demand for joint replacement surgeries, which is driving the global market for medical-grade titanium materials. Furthermore, an increase in bone-related ailments, particularly among the geriatric population, is expected to accelerate the growth of the global medical-grade titanium materials market. Moreover, technological advancements in introducing cost-effective manufacturing procedures and a superior weight-to-strength ratio as compared to traditional options such as steel are projected to augment the market in the foreseeable future. Furthermore, rising government initiatives in several developed and developing economies to provide high-tech medical facilities, combined with rising consumer spending capacity, are expected to accelerate overall market growth. However, raw material scarcity and volatile prices are two major factors expected to stymie market growth over the forecast period. Although an increase in investments in research and development for the introduction of more efficient and cost-effective products is projected to create lucrative opportunities for the key vendors in the coming years,
The global market for medical-grade titanium materials is classified as follows:
By Type
- Titanium 6AL4V
- Titanium 6AL4V ELI
- Others
By Application
- Medical Devices
- Medical Implants
- Bone Plates
- Others (screws, wires, etc.)
By Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified for the 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, Hermit GmbH, Westen Super Conducting, Xi’an Saite Metal Materials, Development Co. Ltd., Western Metal Materials are among other notable players.
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This report offers the following:
- An overview of the global markets for medical-grade titanium materials
- Market trends assessment for the period 2015-2025, including historical data for 2015 and projections through 2025, as well as respective CAGRs for 2017-2025.
- Qualitative assessment tools such as market drivers, challenges, future prospects, and market attractiveness
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlight key information about the major players operating in the medical-grade titanium materials market.
