The global polyether ether ketone (PEEK) interbody devices market is to advance at a 7.4% CAGR from 2023 to 2033. Polyether ether ketone interbody device sales are to increase to USD 4525 million by 2033, from USD 2207.89 million in 2023.
PEEK is a high-performance semi-crystalline engineering thermoplastic with superior chemical resistance, low moisture uptake, outstanding fire performance, exceptional mechanical strength across a wide temperature range, and good dimensional stability.
Strengthening demand for polyether ether ketone from the electronics, automotive, and aerospace industries, as well as rising development, may fuel expansion in the polyether ether ketone (PEEK) interbody devices market over the forecast period.
Polyether ether ketone interbody devices currently account for 20.3% of the global market for orthopedic trauma devices. The growing senior population, as well as their vulnerability to various backbone and spinal cord ailments, are positively influencing the global polyether ether ketone interbody devices demand.
The development of spine surgery has led to a rise in the adoption of polyether ether ketone interbody devices. These devices are utilized to help with spine fusion. These operations are used to halt a painful spinal section from moving.
PEEK interbody devices, which were initially created in the United States for the aerospace sector, are now being employed in the medical area to aid in a number of surgical procedures. These PEEK interbody implants are bone-friendly and compatible with diagnostic imaging.
| Attributes | Details |
|---|---|
| Polyether Ether Ketone (PEEK) Interbody Devices Market CAGR (From 2023 to 2033) | 7.4% |
| Polyether Ether Ketone (PEEK) Interbody Devices Market Size (2023) | USD 2207.89 million |
| Polyether Ether Ketone (PEEK) Interbody Devices Market Size (2033) | USD 4525 million |
| Global Market Absolute Dollar Growth (USD million/billion) | USD 176 million |
PEEK interbody cage system, also known as PEEK spinal cages, is deployed during spinal fusion surgeries to substitute a damaged spinal disc and generated an ideal environment for two vertebrae to join. When the spine is harmed by a degenerative disorder or is harmed, fusion is advised. From 2017 to 2022, the polyether ether ketone interbody devices market experienced a CAGR of 6.7%, achieving revenue of USD 2040.7 million in 2022.
PEEK interbody devices have been a significant development in the clinical industry as they are being used by many medical care settings to streamline their spinal implantation procedures. Given that they are constructed of natural thermoplastic polymers and are environmentally friendly.
Solid-state machining is simple for PEEK. A CNC milling machine, for instance, can be used to machine PEEK-filled grades to produce high-quality, stable plastic parts. Due to its high performance, it is frequently utilized in biological applications such as orthopaedic surgery, spine surgery, and maxillofacial surgery.
The global polyether ether ketone interbody devices market is estimated to reach revenue of USD 4525 million by 2033, progressing at a CAGR of 7.4% between 2023 and 2033.
The market notices a decrease in BPS values, and the reasons for the decrease include the high processing temperature needed for polymer polyetheretherketone (PEEK) compared to accessible thermoplastics, as well as the expensive price of PEEK interbody devices. These elements limit the rate of product acceptance and consequently limit polyether ether ketone (PEEK) interbody devices market expansion.
The polyether ether ketone interbody devices market is susceptible to changes in accordance with macroeconomic and industrial norms, with regard to the legal requirements, safety requirements, and licencing of medical devices.
Due to improvements in material development and the increasing use of hybrid material devices, PEEK interbody implants have the properties of being radiolucent and having a lower elastic modulus, which are likely to favor patients.
Sales of PEEK Interbody Devices Accelerated by Spinal Implant Progression
As the number of elderly people increases globally, spinal disorders have become more common. In order to find fresh solutions to the issue, healthcare specialists have intensified their research efforts. This research led to the development of PEEK interbody devices, the first of which were used in the 1980s and gained considerable clinical acceptance later.
The popularity of PEEK interbody devices for spine procedures has been supported by the availability of a bone-like modulus, high radiolucency to ensure precision and high biocompatibility, and polyether ether ketone (PEEK) interbody devices market trend are projected to continue during the forecast period.
Demand for Organic Polymers is Sprouting as PEEK Interbody Device Application is Spreading
Recent years have seen increased environmental concerns over the use of synthetic polymers in medical PEEK interbody implants, which has improved the outlook for organic polymer growth. PEEK interbody devices are a class of organic thermoplastic polymers having a V-O flammability rating, meaning that they produce few dangerous emissions when exposed to flames. This characteristic has made it a popular material selection for a range of end-use applications.
The ability to recycle polyether ether ketone thermoplastics may expand their application in the mass production of polyether ether ketone interbody devices in the healthcare sector.
Sales of Polyether Ether Ketone Interbody Devices may Be Empowered by the Demand Growth for Less Invasive Surgery
The development of minimally invasive spine procedures is the focus of recent surgical advancements aimed at reducing patient trauma. With minimally invasive spine implants, PEEK interbody implants are being used to decrease tissue dissection and nerve root retraction.
The well-known PEEK interbody implants manufacturer, Vertebral Technologies Inc. concentrates on minimally invasive interbody devices. The Interfuse Interbody System, which uses a less invasive method to construct a sizable anterior lumbar PEEK interbody cage system footprint, is one of its product lines.
PEEK Interbody Device Sales May Be Affected by High Manufacturing Costs
Since PEEK interbody devices are prevalently complex and difficult to get, healthcare organizations must put aside a significant percentage of their money to purchase them. As a result, many practitioners are hesitant to make investments in these tools, limiting their ability to expand.
Due to the high manufacturing expenses, the price of polyether ether ketone is high, curtailing its use in diverse applications. As a result, polyether ether ketone (PEEK) interbody devices market expansion is probably going to be slow.
| Attributes | Details |
|---|---|
| Top End User | Hospitals |
| CAGR % 2017 to 2022 | 8.3% |
| CAGR % 2023 to End of Forecast (2033) | 8.8% |
PEEK Interbody Devices are Performing well due to Rising Hospital Demand.
Hospitals’ polyether ether ketone applications may account for 48.9% of the market. Hospitals lead the market due to the spread of healthcare settings in developed economies and an increase in hospitalisations as a result of a rise in the incidence of road accidents and other sports injuries.
Short wait times for patients and better trauma care arise from improved hospital infrastructure and hospital expansion. PEEK interbody fusion devices are becoming common in specialist clinics. In 2023, specialty clinics are expected to account for 30.4% of the global market share, while ambulatory surgical centres to account for 20.8% of the global market share.
| Attributes | Details |
|---|---|
| Top Product | PEEK Interbody Fusion Devices |
| CAGR % 2017 to 2022 | 6.7% |
| CAGR % 2023 to End of Forecast (2033) | 7.4% |
| Country | The United State |
|---|---|
| HCAGR (From 2017 to 2022) | 5.9% |
| CAGR (From 2023 to 2033) | 6.9% |
| Country | The United Kingdom |
|---|---|
| HCAGR (From 2017 to 2022) | 6.6% |
| CAGR (From 2023 to 2033) | 7.1% |
| Country | China |
|---|---|
| HCAGR (From 2017 to 2022) | 10.3% |
| CAGR (From 2023 to 2033) | 9.5% |
| Country | Germany |
|---|---|
| HCAGR (From 2017 to 2022) | 9.2% |
| CAGR (From 2023 to 2033) | 9.7% |
| Country | Canada |
|---|---|
| HCAGR (From 2017 to 2022) | 9.7% |
| CAGR (From 2023 to 2033) | 8.8% |
| Attributes | Details |
|---|---|
| The United States Market Size (USD million/ billion) by End of Forecast Period (2033) | USD 2800.5 million |
| The United States Market Absolute Dollar Growth (USD million/billion) | USD 99.3 million |
PEEK Interbody Device Consumption Driven by the Increasing Degenerative Disc Disease Cases.
The market in the United States may produce significant revenue among all nations and is anticipated to expand at a healthy rate due to its high consumption rate. In contrast to the 500,000 persons who have spinal stenosis, more than 3% of people in America have degenerative disc disease.
Also, the PEEK interbody devices market in the nation is reaching new heights thanks to the FDA's growing approval rate. These advancements are fantastic for polyether ether ketone interbody devices to proliferate around America market for the anticipated time period.
| Attributes | Details |
|---|---|
| Canada Market Size (USD million/ billion) by End of Forecast Period (2033) | USD 316 million |
| Canada Market Absolute Dollar Growth (USD million/billion) | USD 15.50 million |
Canada polyether ether ketone interbody devices market is predicted to increase rapidly by 2033. Due to the high frequency of degenerative disc disease, patients are seeking therapy, which is increasing adoption across healthcare settings.
The polyether ether ketone (PEEK) interbody devices market is to grow as a result of increased product adoption in the automotive industry. This pattern indicates that PEEK interbody devices may grow in Canada market throughout the anticipated timeframe of 2023 to 2033.
| Attributes | Details |
|---|---|
| The United Kingdom Market Size (USD million/ billion) by End of Forecast Period (2033) | USD 46.9 million |
| The United Kingdom Market Absolute Dollar Growth (USD million/billion) | USD 1.7 million |
PEEK is Becoming Increasingly used in a Variety of Industries.
Many new uses for this polymer in the automotive, oil & gas, electronics, medical, and aerospace sectors may further boost the polyether ether ketone (PEEK) interbody devices market in Europe. In the plastics business, polyether ether ketone (PEEK) is recognised as a prominent high-performance polymer.
| Attributes | Details |
|---|---|
| Germany Market Size (USD million/ billion) by End of Forecast Period (2033) | USD 122.8 million |
| Germany Market Absolute Dollar Growth (USD million/billion) | USD 5.2 million |
Strict Controls are in Place to Decrease CO2 Emissions.
PEEK is emerging as an eco-friendly alternative in a variety of applications. Its use produces fewer carbon emissions than other polymers such as polyester laminate, polyvinyl chloride, and polystyrene. By providing superior corrosion resistance, PEEK extends the service life of the goods in which it is utilised. It works well in hot environments. It is one of the most adaptable products in terms of production design freedom, resulting in less reliance on manpower.
| Attributes | Details |
|---|---|
| China Market Size (USD million/ billion) by End of Forecast Period (2033) | USD 576.1 million |
| China Market Absolute Dollar Growth (USD million/billion | USD 28.5 million |
Demand for PEEK Interbody Devices Stimulated by the Presence of Market Participants and Growing Healthcare Sector
In East Asia, China is the country with a considerable polyether ether ketone interbody devices market. China is expected to have promising growth as a result of growing awareness of healthcare services and expanding infrastructure.
The adoption of contemporary technologies in medical equipment may help China market generate sizable profits in the upcoming years. The expanding healthcare industry and the presence of significant polyether ether ketone interbody device manufacturers have increased demand for PEEK interbody devices.
Many polyether ether ketone interbody devices manufacturers, notably Medtronic Plc., Stryker Corporation, Zimmer Biomet Holdings Inc., and Alphatec Holdings Inc., have established supremacy in East Asia market, with the majority of their manufacturing facilities in China.
The polyether ether ketone (PEEK) interbody devices market has become extremely consolidated. Expansion of existing manufacturing capacities, new developments, forays into untapped markets, and enhancement of core strengths are all key considerations for pioneering businesses in the global PEEK interbody devices market.
Since the system's launch, over 84% of chronic back pain-treated patients with Medtronic's DTMTM Spinal Cord Stimulation Treatment have reported at least 50% pain relief. This has pushed the business to keep investing in more effective pain control technology.
Recent Developments:
Introduction
| Date | March 2021 |
|---|---|
| Company | Evonik |
| Details | Evonik developed a new 3D printing filament based on PEEK INFINAM PEEK. INFINAM PEEK is compatible with extrusion-based 3D printing processes (FFF/FDM) |
Partnerships/Joint Venture
| Date | March 2022 |
|---|---|
| Company | Mitsubishi Chemical Advanced Materials |
| Details | Solvay teamed with Mitsubishi Chemical Advanced Materials to recycle end-of-life medical components in order to recycle and recover additional high-performance polymers, such as KetaSpire polyetheretherketone (PEEK). |
| Date | January 2020 |
|---|---|
| Company | Yingkou Xingfu Chemical Company Limited |
| Details | Yingkou Xingfu Chemical Company Limited and Victrex Hong Kong Limited formed a joint venture to establish a manufacturing facility for a novel PEEK polymer in Liaoning, China. This arrangement may assist both organisations in meeting the needs of their customers. |
The projected CAGR of the market by 2033 is 7.4%.
The projected market value for 2033 is USD 4,525 million.
The market is estimated to secure a valuation of USD 2,207.89 million in 2023.
The healthcare industry is the key consumer.
Due to the increasing prevalence of spinal disorders.
Explore Therapeutic Device Insights
Polyether Ether Ketone (PEEK) Interbody Devices Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
