The global Polyether Ether Ketone Interbody Devices market demand is expected to grow at a 7.4% CAGR from 2023 to 2033. Polyether Ether Ketone Interbody Devices sales are expected to increase to US$ 4525 million by 2033, from US$ 2207.89 million in 2023.
Growing demand for polyether ether ketone from the electronics, automotive, and aerospace industries, as well as increased development, are expected to fuel the Polyether Ether Ketone Interbody Devices industry growth over the forecast period.
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Escalating Demand for Polyether Ether Ketone in the Healthcare
Industry to Accelerate Sales Growth
The growing demand for polyether ether ketone (PEEK) interbody devices in the healthcare industry may drive the growth of the Polyether Ether Ketone Interbody Devices business. The advantages of polyether ether ketone are its small weight, high mechanical strength, thermal resistance, electrical integrity, and chemical resistance. Because of these characteristics, it is a preferred alternative to metals, resulting in growing demand for artificial bone and surgical equipment in the healthcare business.
The polymer is also used in dental implants, cranioplasty, joint replacements, interbody fusion, heart surgery, and soft-tissue treatments. The expanding healthcare industry, as well as the growing preference for PEEK over metals, will drive the growth of the polyether ether ketone (PEEK) interbody devices market.
High Price of PEEK Interbody Devices May Curtail Market Growth
Because PEEK interbody devices are frequently complex and difficult to get, healthcare organisations must put aside a large portion of their budget to purchase them. Many practitioners’ unwillingness to purchase costly interbody implant technology limits progress.
Polyether ether ketone’s applicability in many applications is limited due to its high manufacturing cost. As a result, the market for polyether ether ketone (PEEK) interbody devices may be confined.
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Regional Analysis:
- In Asia Pacific, the market for polyether ether ketone (PEEK) interbody devices will grow at an exponential rate. The growth is attributed to the product’s growing polyether ether ketone uses in aerospace and defence.
- The rapid growth of the Polyether Ether Ketone Interbody Devices business in Europe, particularly in the United Kingdom and Germany, may be supported by strong product uptake in the vehicle industry.
- The market for polyether ether ketone (PEEK) interbody devices in North America is expected to grow significantly due to growing healthcare product demand.
- Increased product utilisation in the electrical and electronics sector is expected to drive significant growth in the Middle East and Africa.
- The polyether ether ketone (PEEK) interbody devices market in Latin America is being driven by the escalating demand from the oil and gas industry for glass-filled and carbon-filled PEEK.
Key Takeaway:
- The polyether ether ketone peek interbody fusion device segment is expected to grow at a 7.4% CAGR between 2023 and 2033.
- The hospitals category is expected to grow at an 8.8% CAGR between 2023 and 2033 in the Polyether Ether Ketone Interbody Devices market.
- The market in the United States is expected to grow at a 6.9% CAGR and reach US$ 2800.5 million by the end of 2033.
- The market for polyether ether ketone (PEEK) interbody devices in the United Kingdom is expected to grow at a 7.1% CAGR and reach US$ 46.9 million by the end of 2033.
- China’s market will grow at a 9.5% CAGR and hit US$ 576.1 million by 2033.
- Germany market to record a CAGR of 9.7% and achieve US$ 122.5 million by 2033.
- Canada Polyether Ether Ketone Interbody Devices market to advance at a CAGR of 9.5% and attain US$ 3160 million by 2033.
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Competitive Analysis of the Polyether Ether Ketone (PEEK) Interbody Devices Industry
Market competition for polyether ether ketone (PEEK) interbody devices is highly consolidated. Leading Polyether Ether Ketone Interbody Devices businesses in the global market place a high priority on expanding their manufacturing facilities, developing new products, entering unexplored markets, and reinforcing their core strengths.
The report includes information on a number of leading polyether ether ketone (PEEK) interbody devices manufacturers, including Zimmer Biomet Holdings Inc., Medtronic Plc., Stryker Corporation, B. Braun Melsungen AG, SeaSpine Holdings Corporation, Shandong Weigao Group Medical Polymer Company Limited, Alphatec Holdings Inc., Xtant Medical Holdings, Inc., Life Spine, Inc., and others.
Business Investments for Polyether Ether Ketone (PEEK) Interbody Devices
- Launch
A new PEEK-based 3D printed filament called INFINAM PEEK was introduced by Evonik Industries in March 2021 (Polyether Ether Ketone). The new ready-to-use polymer filament might aid the company in diversifying its product line and is the perfect metal substitute in a wide range of industrial 3D applications.
- Joint Venture
A joint venture between Yingkou Xingfu Chemical Company Ltd and Victrex Hong Kong Limited was formed in January 2020 to construct a PEEK polymer production facility in Liaoning, China. Both businesses are estimated to benefit from this partnership in terms of meeting customer needs.
Key Segments
By Product:
- Posterolateral Fusion Devices
- Interbody Fusion Devices
- Anterior Lumbar Interbody Fusion Devices (ALIF)
- Extreme Lateral Interbody Fusion Devices (XLIF)
- Posterior Lumbar Interbody Fusion Devices (PLIF)
- Transforaminal Lumbar Interbody Fusion Devices (TLIF)
- Other Devices
By End Use:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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