Carpenter Technology Corporation (US), Royal DSM (US), and Johnson Matthey Plc (US) are the leading players in the Metal Implants and Medical Alloys Market
The metal implants and medical alloys market is projected to reach USD 17.6 billion by 2024 from USD 11.2 billion in 2019, at a CAGR of 9.4%. Growth in this market is driven by the growing geriatric population globally, rising prevalence of chronic disorders, the availability of technologically advanced products, and the growing number of accident/trauma cases and sports-related injuries. On the other hand, the high cost of implants and stringent product approval process are expected to limit market growth to a certain extent.
Players in the global metal implants and medical alloys market such as Carpenter Technology Corporation (US), Royal DSM (Netherlands), Johnson Matthey Plc (UK), ATI Specialty Alloys & Components (US), Ametek Specialty Products (US), Aperam S.A. (Luxembourg), QuesTek Innovations LLC (US), and Fort Wayne Metals (US) are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies, such as product launches, expansions, agreements, collaborations, and acquisitions.
Carpenter Technology Corporation (US) is a leader in high-performance, specialty, alloy-based materials and process solutions for critical applications in the aerospace, defense, transportation, energy, medical, industrial, and consumer markets. The company has evolved to become a pioneer in premium specialty alloys, including titanium, nickel, and cobalt, as well as alloys specifically engineered for additive manufacturing (AM) processes and soft magnetic applications. The company has expanded its AM capabilities to provide complete “end-to-end” solutions to accelerate materials innovation and streamline parts production. As part of its overall business strategy, Carpenter Technology seeks out opportunities related to strategic acquisitions, divestitures, and joint collaborations as well as possible business unit dispositions aimed at broadening its offerings in the marketplace.
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Royal DSM (Netherland) is one of the largest materials and biomedical solution providers, mainly for medical device manufacturing companies. The company has expertise in material science to create innovative solutions for its customers. DSM focuses on its additive manufacturing (AM) activities. By aligning all its AM activities within the Materials cluster and promoting a partnership approach, DSM can provide customers with an open and flexible infrastructure. This will help customers find exactly the right materials and production systems for their applications. The company is also expanding its customer base, product portfolio, and expertise in the area of biomaterials through partnerships and collaborations.
Johnson Matthey (UK) is one of the prominent manufacturers of metal alloys. The company focuses on innovation and sustainability. It has established capabilities and has successfully integrated its operations to serve multiple industries. Johnson Matthey is involved in the raw material and manufacturing part of the value chain. The company has established itself as one of the leading manufacturers of SMAs, especially for medical applications. It invests in expansions and agreements. These investments are in line with the company’s strategy to establish its share in the metal implants and medical alloys market.
Related Reports:
Metal Implants and Medical Alloys Market by Type (Titanium, Stainless Steel, Cobalt Chrome), Application (Orthopedic, Dental, Spinal Fusion, Craniofacial, Pacemaker, Stent, Defibrillator, Hip, Knee, & Shoulder Reconstruction) - Global Forecast to 2024
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