Medical Polyether Ether Ketone Market Is on Track To Hitting $1,146.6 Million by 2030, Says P&S Intelligence

NEW YORK, July 19, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, the global medical polyether ether ketone market accounted for $582.4 million worth in 2021, which is predicted to touch $1,146.6 million by 2030, growing at a CAGR of 7.8% from 2021 to 2030. In terms of the FDA's clearance to medical-grade plastics for in-vitro and in-vivo purposes, as well as the advantages they provide, the market for these materials has made tremendous progress in recent years.

In many medical applications, including dental implants, cardiovascular devices, and trauma fixation, this plastic is preferred. Thus, the market expansion throughout the forecast period will be driven by the rising elderly population in the North American, European, and Asian nations as well as the increasing prevalence of sports injuries.

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Prime Market Revenue Contributor in Market Is North America

• During the forecast period, the U.S. medical polyether ether ketone market is expected to advance rapidly, due to a rise in the number of healthcare facilities and advancements in medical technology. The expanding population in the U.S. is predicted to surge the demand for knee and hip implants, heart valves, stents, and spinal implants, which will further encourage the usage of medical-grade polymers.
• In Canada, the sales of medical-grade PEEK are expected to increase with a CAGR of around 7% over the forecast year. Both the private and public sectors are making considerable investments in Canada's healthcare sector, this driving R&D.
• The large elderly population in the region is also advancing the medical polyether ether ketone market. In the U. S., there are now 54 million persons over the age of 65, and this figure is expected to increase to 74 million by the year 2030. The population of those over 85, who require the most-extensive care, is increasing even more rapidly.

Products with Fastest Revenue Growth Are Heart Valves and Stent Implants

• The category of stents and heart valve implantation products will grow at an around 9% CAGR, the highest in the medical polyether ether ketone market. PEEK is presently used to create a sizable variety of cardiovascular devices and implants, including cannulae, stents, and artificial heart valves.

Browse detailed report on Global Medical Polyether Ether Ketone Market Analysis, Development and Demand Forecast to 2030

• Due to PEEK's capacity to replace titanium, it is also being utilized more frequently in dental implants. For this reason, this category will advance at a CAGR of 8.5% in the coming years. Therefore, it is expected that the demand for semi-crystalline engineering thermoplastics to produce cardiovascular, orthopedic, trauma fixation, and orthodontic applications would significantly increase the demand for medical-grade PEEK.

Medical Polyether ether ketone Market Report Coverage

By Product

• Dental Implants
• Knee and Hip Implants
• Spine Implants
• Stent and Heart Valve Implantation Products

By Grade

• Unfilled
• Carbon-Filled

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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SOURCE P&S Intelligence