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Global Medical Polyetheretherketone Market – Industry Trends and Forecast to 2031

Chemical and Materials

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Global Medical Polyetheretherketone Market – Industry Trends and Forecast to 2031

  • Chemical and Materials
  • Upcoming Report
  • Mar 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Medical Polyetheretherketone Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 418.20 USD Billion
Diagram Market Size (Forecast Year) USD 809.14 USD Billion
Diagram CAGR %

Major Markets Players

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Global Medical Polyetheretherketone Market, By Form (PEEK-LT1, PEEK-LT2, and PEEK-LT3), Application (Spine Surgery, Orthopedic Surgery, and Maxillo-Facial Surgery) - Industry Trends and Forecast to 2031.

Medical Polyetheretherketone Market Analysis and Size         

Polyetheretherketone (PEEK) is a high-performance thermoplastic polymer that has found applications in various industries, including the medical field. In the medical context, PEEK is often used as a biomaterial for certain medical devices and implants due to its unique properties. The rising prevalence of musculoskeletal disorders, dental issues, and other health conditions has led to an increased demand for implantable medical devices which contributes significantly to the demand for stainless steel tubes.

Data Bridge Market Research analyses that the global medical polyetheretherketone market was valued at USD 418.20 million in 2023 and is expected to reach a value of 809.14 million by 2031, at a CAGR of 8.6% during the forecast period of 2024 to 2031. The spine surgery segment is expected to dominate the market due to the ongoing advancements in medical technology have led to the development of innovative medical devices and implants. PEEK is often chosen for its ability to meet the demanding requirements of these advanced technologies. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

CBase Year

2023

Historic Years

2022 (Customizable to 2016-2021)

Quantitative Units

Revenue in USD Million, Pricing in Units, Volumes in Units

Segments Covered

 Form (PEEK-LT1, PEEK-LT2, and PEEK-LT3),  Application (Spine Surgery, Orthopedic Surgery, and Maxillo-Facial Surgery)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Superior Polymers (India),  Evonik Industries AG (Germany), Solvay (Belgium), Medtronic (U.S.), Victrex Plc (U.K.) among others.

Opportunity

 

  • Increasing Demand for Implantable Medical Devices
  • Advancements in Medical Technology

Market Definition

Medical polyetheretherketone (PEEK) is a high-performance polymer that is used in various medical applications. PEEK is a semi-crystalline thermoplastic known for its excellent mechanical and chemical properties. In the medical field, PEEK is often used in the manufacturing of medical implants, devices, and components due to its biocompatibility, radiolucency (allows for better imaging), and high strength-to-weight ratio.

 Global Medical Polyetheretherketone Market Dynamics

Drivers

  • Preference for Minimally Invasive Procedures

The trend towards minimally invasive surgeries often involves the use of medical devices and implants made from materials such as PEEK, which can be designed with complex geometries and are compatible with minimally invasive techniques.

  • Increasing Demand for Implantable Medical Devices

The rising prevalence of musculoskeletal disorders, dental issues, and other health conditions has led to an increased demand for implantable medical devices. PEEK's biocompatibility and mechanical properties make it a preferred material for implants and thus drives the maket.

Opportunity

  • Increasing Awareness among Healthcare Professionals

The medical polyetheretherketone (PEEK) market has witnessed a surge in awareness among healthcare professionals owing to the material's exceptional properties and diverse applications in the medical field. PEEK's biocompatibility, radiolucency, and mechanical strength make it a versatile choice for various medical devices, including implants, spinal cages, and dental components. As healthcare professionals increasingly recognize the benefits of PEEK, such as reduced artifact interference in imaging and minimal inflammatory response, there has been a growing preference for its use in surgical and orthopedic applications

Restraints/Challenges

  • High Costs Limits Adoption

PEEK is a relatively expensive material compared to traditional materials used in medical applications. The cost of manufacturing and processing PEEK can be a limiting factor for its adoption, especially in regions with budget constraints in healthcare.

  • Competitive Materials

There are alternative materials available in the market, such as titanium and other polymers, which may compete with PEEK in certain medical applications. The choice of materials often depends on specific requirements and cost considerations, and PEEK may face competition from other materials with similar or lower costs.

This global medical polyetheretherketone market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global medical polyetheretherketone market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In October 2023, Superior Polymers introduced medical-based polyetheretherketone (PEEK), namely, Magnolia Trinity. This polymer is a combination of three biomaterials including hydroxyapatite, carbon fiber, and polyether ether ketone, designed for medical devices such as surgical instruments and orthopedic implants

Global Medical Polyetheretherketone Market Scope

The global medical polyetheretherketone market is segmented on the basis of form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Form

  • PEEK-LT1
  • PEEK-LT2
  • PEEK-LT3

Application

  • Spine Surgery
  • Orthopedic Surgery
  • Maxillo-Facial Surgery

Global Medical Polyetheretherketone Market Regional Analysis/Insights

The global medical polyetheretherketone market is analyzed and market size insights and trends are provided by form and application as referenced above.

The countries covered in the global medical polyetheretherketone market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of the Middle East and Africa.

North America dominated the market and is expected to grow at the fastest CAGR of during the forecast period. The region is likely to continue its dominance over the forecast period due to the increasing geriatric population in the U.S and Canada and increasing per capita healthcare spending in the form of health insurance in the U.S. have been among the major trends impacting the market growth in North America.

Europe, which held the second-largest revenue share is expected to grow at the second-fastest CAGR over the forecast period. Countries such as the U.K. and Germany have witnessed increased demand for these products due to increasing incidences of lifestyle-related disorders and diseases in the region, including diabetes and cardiac arrests, have resulted in increased spending on healthcare by the population.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Medical Polyetheretherketone Market Share Analysis

The global medical polyetheretherketone market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global medical polyetheretherketone market.

Some of the major players operating in the global medical polyetheretherketone market are:

  • Superior Polymers (India)
  • Evonik Industries AG (Germany)
  • Solvay (Belgium)
  • Medtronic (U.S.)
  • Victrex Plc (U.K.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The Medical Polyetheretherketone Market size will be worth USD 809.14 million during the forecast period.
The Medical Polyetheretherketone Market growth rate is 8.6% during the forecast period.
The Preference for Minimally Invasive Procedures and Increasing Demand for Implantable Medical Devices are the growth drivers of the Medical Polyetheretherketone Market.
The form and application are the factors on which the Medical Polyetheretherketone Market research is based.
The major companies in the Medical Polyetheretherketone Market are Superior Polymers (India), Evonik Industries AG (Germany), Solvay (Belgium), Medtronic (U.S.), Victrex Plc (U.K.).
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