Peek Implants Market experts predict $1545.76 Million & 7.2% CAGR by 2032

Peek Implants Market Size Worth $1,545.76 Million By 2032 | CAGR: 7.2%


The global peek implants market size is expected to reach USD 1,545.76 million by 2032, according to a new study by Polaris Market Research. The report “Peek Implants Market Share, Size, Trends, Industry Analysis Report, By Application (Dental Implant, Joint Implant, Spine Implant, Others); By End-User; By Region; Segment Forecast, 2023- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

PEEK (polyetheretherketone) implants are crafted from the high-performance thermoplastic polymer PEEK. These implants find diverse medical applications, including spinal fusion, maxillofacial reconstruction, and trauma intervention. Noteworthy advantages of PEEK implants encompass their biocompatibility, optical clarity, resistance to chemicals, robust mechanical properties, and long-lasting durability. The market's expansion is propelled by the escalating incidence of osteoarthritis, a growing aging demographic, and the distinct advantages PEEK implants offer in comparison to their metal counterparts.

There is a growing need for Peek implants in the elderly population and to cater to this expanding patient base. The surge in life expectancy and age-related issues will further drive the preference for Peek implants among older adults. This significant demographic shift is poised to influence the growth trajectory of the Peek Implants market profoundly.

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Furthermore, there has been a significant surge in the uptake of minimally invasive medical techniques like arthroscopy, laparoscopy, and endoscopy worldwide. These procedures present notable benefits, including rapid recovery, diminished discomfort, minimal scarring, and lower risk of complications. This surge in popularity has led to an increased demand for minimally invasive Peek implants like interbody cages and pedicle screw systems, particularly in spinal fusion surgeries. Given Peek's remarkable biocompatibility and radiolucency, it stands as an optimal material for these advanced procedures. The escalating trend towards minimally invasive surgeries is expected to significantly bolster the adoption of Peek implants in the healthcare industry.

However, the elevated cost of PEEK implants can lead to limited or nonexistent reimbursement in various regions. Many insurance plans may not cover procedures involving PEEK implants, resulting in substantial out-of-pocket expenses for patients. Additionally, regulatory bodies may need to offer more reimbursement for innovative materials like PEEK. Consequently, PEEK implant surgeries become costly for individuals, presenting a barrier to market expansion.

Peek Implants Market Report Highlights

  • Dental implant segment is expected to grow at a highest CAGR during the projected period, on account of increasing viability and reliability
  • Clinics segment accounted for largest market share in 2022, which is mainly driven by cost-effectiveness, higher performance, and flexibility
  • North America region dominated the market with majority share in 2022, owing to exponential growth in the technology and surge in orthopedic procedures
  • The global key market players include Evonik Industries AG, Exactech, Inc., Invibio Ltd. (Victrex plc), Medtronic plc, MicroPort Scientific Corporation

Polaris Market Research has segmented the Peek implants market report based on application, end-user, and region:

Peek Implants, Application Outlook (Revenue - USD Million, 2019 - 2032)

  • Dental Implant
  • Joint Implant
  • Spine Implant
  • Others

Peek Implants, End-User Outlook (Revenue - USD Million, 2019 - 2032)

  • Clinics
  • Hospitals
  • Ambulatory Surgical Centers
  • Others

Peek Implants, Regional Outlook (Revenue - USD Million, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Peek Implants Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 827.47 million

Revenue forecast in 2032

USD 1,545.76 million

CAGR

7.2% from 2023 – 2032

Base year

2022

Historical data

2019 – 2021

Forecast period

2023 – 2032

Quantitative units

Revenue in USD million and CAGR from 2023 to 2032

Segments covered

By Application, By End-User, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, region and segmentation.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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