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Titanium metal implants and medical alloys to account for the largest share of the metal implants and alloys market

The metal implants and medical alloys market is projected to reach USD 17.64 billion by 2024 from USD 11.25 billion in 2019, at a CAGR of 9.4%. Market growth is driven mainly by factors such as the rising geriatric and obese populations globally, the increasing number of road accidents & trauma cases, the growing demand for minimally invasive surgical procedures, and the growing incidence of lifestyle disorders.

Based on type, the metal implants and medical alloys market is broadly segmented into titanium, stainless steel, cobalt-chromium, and other metal implants and medical alloys. Titanium metal implants and medical alloys accounted for the largest share of the market, and this trend is expected to continue during the forecast period. A large share of this segment s growth can be attributed to the advantages offered by titanium, such as high biocompatibility, strength, rigidity, greater strain-bearing capacity, and higher corrosion-resistance properties as compared to other materials. Moreover, it is non-allergic, non-magnetic, and non-radio-opaque, and adheres easily to the bone without any additional coating.
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