Medical Polyetheretherketone Market Size Is Expected To Reach USD 1,003.25 Million By 2030

Posted by Neha Bora on March 12th, 2024

San Francisco, 12 March 2024: The Report Medical Polyetheretherketone Market Size, Share & Trends Analysis Report By Application (Trauma Fixation, Cardiovascular, Orthopedic, Dental Implant & Fixtures), By Region, And Segment Forecasts, 2024 - 2030

The global medical polyetheretherketone market size is expected to reach USD 1,003.25 million by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at CAGR of 7.4% over the forecast period. The demand can be attributed to the increasing adoption of medical polyetheretherketone (PEEK) for use in medical implants such as knee & hip implants, vascular medical devices, spinal implants, and dental fixtures.

The market is expected to register growth due to the high adoption of the product on account of its superior chemical inertness, heat and superior fatigue resistance. However, the high cost of the polyetheretherketone compared to other plastics may hinder the market growth over the forecast period.

Rise in global healthcare expenditure and replacement of metals with polyetheretherketone (PEEK) are the major factors contributing to the growth of the market. Healthcare spending in the country is likely to accelerate in the near future owing to the growing awareness about healthcare. Factors such as rising needs of the geriatric population (65 years of age or above), an increase in the prevalence of chronic disorders & diseases, infrastructure improvements, and technological advancements are expected to drive the healthcare sector, thereby leading to an increase in the demand for medical medical-grade PEEK.

PEEK has many advantages over metals like titanium or stainless steel in medical applications. PEEK can be used to produce innovative interbody fusion cages. These can be designed with microporous structures and can be further enhanced with hydroxyapatite or zeolite, which naturally promote bone growth. PEEK is chemically inert and is preferred over metals in areas where the reaction of chemicals with metals is not fully understood. PEEK is also preferred for medical devices as it reduces the weight of the device. Due to its radiopacity, PEEK is preferred as certain scanning devices cannot scan through metallic parts. Finally, because of its high-temperature resistance, tools made of PEEK can be easily sterilized by autoclaving and reused many times.

Another added advantage is that PEEK can be 3D printed to produce patient-specific designs and porous geometries ideal for stable integration with bone. PEEK polymers can be 3D printed to make ergonomic, strong, and light tools and can be used as reusable surgical instruments. These can reduce surgeon fatigue and thus prevent potentially harmful mistakes during long surgeries. PEEK tools, because of their radiopacity, do not interfere with the surgeon’s view for minimally invasive surgeries, live x-ray imaging, or guided by fluoroscopy, unlike metal tools.

Access Research Report of Medical Polyetheretherketone Market @ https://www.grandviewresearch.com/industry-analysis/medical-polyetheretherketone-peek-market-report

Medical Polyetheretherketone Market Report Highlights

• Spine implantation was the largest application segment in 2023, driven by high-volume consumption of polyetheretherketone in the manufacturing of spinal cages or spacers. These are used for patients suffering from degenerative spondylolisthesis, degenerative disk disease, spinal stenosis, and degenerative scoliosis, among other deformities of the spine.
• The demand for polyetheretherketone in spine implantation is expected to remain high due to the superior properties of this plastic, including high flexural strength, radiopacity, similar bone modulus, impact resistance, and lightness, as compared to metals like titanium. Furthermore, the growing elderly population in countries such as the U.S., Italy, and Japan is likely to propel the demand for polyetheretherketone in spine implants.
• PEEK is witnessing growing demand in spinal interbody fusion implants. Spinal procedures are categorized by implant type and the region of the spine where they are applied. Spinal implants include interbody devices, plates, pedicle screws, and rod fixation systems. Interbody fusion procedures, cervical fixation, and thoracolumbar fixation were found to be the most commonly performed spinal procedures.
• Processing of PEEK is time-consuming. For example, polytetrafluoroethylene (PTFE) can be molded using cold compression and can be put into a sintering oven in batches. On the contrary, PEEK has to be sintered during the compression stage itself and needs to be annealed, which is a time-consuming process.

Medical Polyetheretherketone Market Report Scope

List of Key Players in the Medical Polyetheretherketone Market

• Superior Polymers
• Evonik Industries AG
• Invibio Ltd.
• Solvay
• Medtronic
• Victrex plc
• Ensinger
• Boedeker Plastics, Inc.
• Röchling
• PEEKCHINA

Access Press Release of Medical Polyetheretherketone Market @ https://www.grandviewresearch.com/press-release/global-medical-polyetheretherketone-peek-market