PEEK Implants Market

PEEK Implants Market Expected to be Flourished by Increasing Number of Orthopedic Procedures


Polyetheretherketone (PEEK) are a family of semi-crystalline thermoplastic polymers used in medical implants and devices. Due to its biocompatibility and stress resistant properties, PEEK implants are used in applications such as spinal implants, trauma fixation devices, dental implants, and others. The global PEEK implants market is fragmented with a large number of companies offering a variety of products. PEEK implants are used as an alternative to titanium and stainless steel implants, due to its closer bone density which reduces stress shielding. Rise in geriatric population has increased the number of orthopedic procedures globally. Road accidents and sports injuries have also contributed to the demand.

The global PEEK Implants Market is estimated to be valued at US$ 982.08 Bn in 2024 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Increase in the Number of Orthopedic Procedures: Rise in geriatric population has increased the number of orthopedic procedures globally as the elderly are more susceptible to bone diseases. As per data by the Centers for Disease Control and Prevention, over 9.4 million children and adults participated in sports in 2018. Increased participation in sports has resulted in higher injuries requiring surgical intervention. This is expected to drive the demand for PEEK implants in trauma fixation applications over the forecast period.

Superior Mechanical Properties: PEEK has higher mechanical strength as compared to polymers and lower stiffness than titanium. Its elastic modulus is similar to bones which prevents stress shielding. Presence of aryl–ether–ketone units provide superior toughness, tensile strength, and creep resistance to PEEK over other implant materials. PEEK implants offer osteoconductivity, thereby assisting in bone healing process. This reduces healing time and improves compatibility with surrounding tissues.

Segment Analysis

The global PEEK implants market size is dominated by the trauma segment, which accounts for more than 35% share of the overall market. This is because PEEK implants are extensively used to treat fractures caused due to trauma injuries in spine, shoulder, and lower and upper extremities. These implants offer superior biocompatibility and radiolucency properties compared to titanium and stainless steel implants, making them an ideal choice for treatment of traumatic injuries.

Pest Analysis

Political: Regulations around implant materials and approval processes are well defined by government bodies like FDA to ensure patient safety. This encouraging regulatory environment supports the growth of new biocompatible polymers like PEEK.

Economic: Developing economies are witnessing high economic growth and increasing healthcare spending, thus driving the demand for advanced implants. Additionally, rising aging population globally is augmenting the patient pool for orthopedic procedures and joint replacements.

Social: Increasing public awareness about advantages of minimally invasive surgeries and personalized medical care is driving patients to opt for advanced biocompatible implants like PEEK.

Technological: Major players are continuously investing in R&D to further enhance material properties of PEEK implants through additions of carbon nanotubes, bioceramics, etc. This is improving fatigue resistance and osseointegration capabilities of these implants.

Key Takeaways

The global PEEK implants market is expected to witness high growth at a CAGR of 9.5% during the forecast period of 2024 to 2031. The market size is projected to reach US$ 982.08 Bn by 2024.

Regional analysis: North America dominates the global market with over 30% share due to advanced healthcare infrastructure and rising prevalence of degenerative diseases in the region. Moreover, presence of major players is supporting market growth in North America. Asia Pacific is expected to witness fastest growth during the forecast period supported by increasing medical tourism, rising healthcare spending, and growing geriatric population.

Key players: Key players operating in the PEEK Implants market are Fresnillo PLC, Nabors Industries, Pan American Silver, Industrias Penoles and Fresnillo. Fresnillo is the market leader with over 20% market share owing to its wide product portfolio and global distribution network.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it