Polyether ether ketone (PEEK) is a semi-crystalline thermoplastic polymer, which has gained widespread recognition as an alternative biomaterial to metals in orthopedic and spinal applications due to its low elastic modulus matching that of bone. PEEK implants are highly preferred over traditional metal implants due to their biocompatibility, lightweight nature, and radiolucency enabling better post-surgery scans. They are used in hip, knee, spinal, cranial, and extremities reconstructive applications. Growing demand for minimally invasive surgeries and increasing number of trauma cases are augmenting the adoption of PEEK implants.
The global PEEK Implants Market is estimated to be valued at US$ 852.5 Mn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Growing preference for PEEK polymers over metal implants: The aforementioned growing preference for PEEK implants over metal implants owing to better biocompatibility and similar elasticity to bones is augmenting the market growth. PEEK implants cause lesser inflammation, nerve damage, and bone resorption post-surgery as compared to metals. Further, factors such as increasing number of spine, trauma and reconstructive surgeries along with rising investment in R&D of advanced PEEK implants is also driving the market growth.
The global PEEK Implants market is dominated by the spinal implants segment. PEEK implants are increasingly being used for spinal fusion procedures owing to their favorable biocompatibility properties and biointegration capabilities. Spinal implants made of PEEK offer strength and flexibility similar to bone, which enables better healing process and recovery for patients undergoing spinal fusion surgeries. PEEK spinal implants facilitate bone ingrowth while eliminating stress shielding effect experienced with metal implants.
Political: Regulations around new medical device approval and adoption of innovative biomaterials for implants are expected to boost the PEEK implants market.
Economic: Rising healthcare spending on orthopedic and neurosurgeries along with growing economy will drive the demand for advanced PEEK implants.
Social: Increasing geriatric population susceptible to degenerative bone diseases coupled with growing public awareness about innovative biomaterial implants are fueling the PEEK implants industry.
Technological: Continuous R&D into development of customized PEEK implants designs and 3D printing of implants has enhanced the biomechanical compatibility of these implants.
The Global PEEK Implants Market Growth is expected to witness high at a CAGR of 8.6% during the forecast period of 2023 to 2030. Regional analysis reveals North America dominates currently due to presence of major players and early availability of advanced implant technologies. North America is followed by Europe in terms of adoption of innovative biomaterial implants for orthopedic applications.
Key players operating in the PEEK implants market are Invibio, PEEK Implants by Cendres+Métaux, SisoMM, and MKPrecision. Invibio offers a wide range of customized PEEK Optima polymer and composite formulations used for developing spinal, cranial and joint replacement implants. Cendres+Métaux has a comprehensive portfolio of 3D printed PEEK interbody cages and dowels for posterior and transforaminal lumbar interbody fusion procedures.
Rising number of aging population, increasing joint replacement volumes, and continuous technological advancements in customized PEEK implant designs will remain key growth drivers for the market during the forecast period. The demand for minimally invasive neurosurgical procedures requiring superior biocompatible implant materials will augment the revenue generation opportunities across the PEEK implants industry.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it