Demand for platinum increases also in healthcare trends including anti-cancer drugs

In 2024, medical demand for platinum represented 4% of total platinum demand, growing for the fourth consecutive year to reach 308 koz. This year, it is expected to grow by a further 4% to 320 koz.

In percentage terms, demand for platinum in cancer treatments was the fastest-growing segment of medical demand last year, while growth in the medical devices segment remained the largest contributor to overall volume and absolute growth. While platinum is the main platinum group metal (PGM) used in APIs, ruthenium is currently being evaluated for future cancer treatments. There is also ongoing research into palladium- and iridium-based anti-cancer drugs.

In this regard, Tanaka Precious Metals is advancing the use of high-quality precious metals in medical devices for a range of procedures, from cardiovascular to neurovascular treatments, having recently launched a series of highly radiopaque precious metal materials, including platinum alloy wire.