The global polyether ether ketone (PEEK) interbody devices market is expected to grow at a 7.4% CAGR between 2023 and 2033. Sales of polyether ether ketone interbody devices are expected to increase from US$ 2207.89 million in 2023 to US$ 4525 million by 2033.
The expanding demand for polyether ether ketone from the electronics, automotive, and aerospace industries, as well as rising development are the factors estimated to drive polyether ether ketone interbody devices industry growth throughout the forecast period.
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Escalating Demand for Polyether Ether Ketone in the Healthcare
Industry to Accelerate Sales Growth
The booming demand for polyether ether ketone (PEEK) interbody devices from the healthcare industry may stimulate polyether ether ketone interbody devices industry expansion. Polyether ether ketone is good for its lightweight, great mechanical strength, temperature resistance, electrical integrity, and chemical resistance. These qualities make it a favored alternative over metals, resulting in increased demand for artificial bone and surgical equipment in the healthcare industry.
Dental implants, cranioplasty, joint replacements, interbody fusion, heart surgery, and soft-tissue treatments are also made from the polymer. The growing healthcare industry, as well as the rising preference for PEEK over metals, to fuel polyether ether ketone (PEEK) interbody devices market expansion.
High Price of PEEK Interbody Devices May Curtail Market Growth
Healthcare organizations must set aside a significant percentage of their money to buy PEEK interbody devices because they are frequently complex and difficult to obtain. The lack of willingness among many practitioners to buy peek interbody implant technologies restricts growth.
Due to its expensive manufacturing, polyether ether ketone’s use in various applications is constrained. As a result, polyether ether ketone (PEEK) interbody devices market expansion may get constrained.
Regional Analysis:
- The polyether ether ketone (PEEK) interbody devices market is going to expand at exponential rates in Asia Pacific. The expansion is linked to the product’s expanding polyether ether ketone applications in the aerospace and defense sector.
- The polyether ether ketone interbody devices industry expansion in Europe, where the United Kingdom and Germany are the major contributors, might be fueled by the high product adoption in the automobile industry.
- The polyether ether ketone (PEEK) interbody devices market in North America is to expand significantly as a result of increased healthcare product demand.
- The Middle East and Africa are to experience significant growth as a result of increased product usage in the electrical and electronics sector.
- 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:
- By product, the polyether ether ketone peek interbody fusion device segment is anticipated to register a CAGR of 7.4% between 2023 and 2033.
- By end-user in the polyether ether ketone interbody devices market, the hospitals segment to register a CAGR of 8.8% between 2023 and 2033.
- The United States market to record a CAGR of 6.9% and hit US$ 2800.5 million by the end of 2033.
- The United Kingdom polyether ether ketone (PEEK) interbody devices market to advance at a CAGR of 7.1% and reach US$ 46.9 million by the end of 2033.
- China market to develop at a CAGR of 9.5% and surpass 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
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