Global Medical Polyetheretherketone (PEEK) Market: Trends, Growth, and Forecast 2030
The global medical polyetheretherketone market size is expected to reach USD 1,003.25 million by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at CAGR of 7.4% over the forecast period. The demand can be attributed to the increasing adoption of medical polyetheretherketone (PEEK) for use in medical implants such as knee & hip implants, vascular medical devices, spinal implants, and dental fixtures. The market is expected to register growth due to the high adoption of the product on account of its superior chemical inertness, heat and superior fatigue resistance. However, the high cost of the polyetheretherketone compared to other plastics may hinder the market growth over the forecast period. Rise in global healthcare expenditure and replacement of metals with polyetheretherketone (PEEK) are the major factors contributing to the growth of the market. Healthcare spending in the country is likely to accelerate i...