PEEK implants are medical devices made of polyetheretherketone (PEEK), a semi-crystalline thermoplastic that has similar properties to human bone. It is used to replace or regenerate bone tissues lost due to trauma, disease, or defect. PEEK implants provide greater flexibility and comfort over metallic implants as it is radiolucent and biomechanically compatible with bone and soft tissues. They can be used in spine and spinal fusion surgery, joint replacements, and dental and cranial reconstructive surgeries. PEEK implants minimize implant rejection, offer resistance to corrosion and stress shielding, and prevent metal irritation to promote faster healing.
Market key trends:
Growth in the 3D printing technology and computer-aided surgery is boosting demand for personalized PEEK implants. 3D printing allows accurately replicating patient's anatomy which helps in pre-surgical planning, enhances surgical accuracy, and reduces post-operative complications. It permits fabricating PEEK implants of complex shapes and porous structures to promote osseointegration. This, in turn, is driving adoption of 3D printed PEEK implants in spine surgeries. It reduces surgery time, shortens hospital stay, and improves clinical outcomes. Additionally, rising prevalence of degenerative joint diseases like osteoarthritis and spondylosis is increasing number of joint and spine replacement surgeries. This is anticipated to propel the growth of PEEK implants market during the forecast period.
Threat of new entrants: The threat of new entrants is moderate as the PEEK Implants Market Demand requires huge capital investments and infrastructure. Also, established key players dominate the market.Bargaining power of buyers: The bargaining power of buyers is low due to the availability of limited alternatives and new disease conditions. Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials used in PEEK implants are available and suppliers have established supply chains.Threat of new substitutes: The threat of new substitutes is low as PEEK implants have advantages over conventional implant materials and there are no close substitutes.Competitive rivalry: High as key players compete on product quality, reliability and innovation.
The global PEEK implants market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing prevalence of orthopedic diseases and rising number of implant surgeries. Regional analysis: North America dominates the global PEEK implants market due to the high prevalence of degenerative bone diseases in the region. Moreover, increasing number of spinal fusion surgeries in the U.S and Canada is also anticipated to drive the market growth. Asia Pacific exhibits the fastest growth rate during the forecast period due to growing geriatric population, increasing healthcare spending and emergence of regional key players.Key players: Key players operating in the PEEK implants market are Invibio, PEEK Implants by Cendres+Métaux, SisoMM, and MKPrecision. Evonik Industries AG is one of the leading supplier of PEEK polymers to the implant manufacturers. The key players mainly compete on product quality, reliability and innovation.