Summary
The global implantable medical devices market reached a value of US$ 120.5 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 168.3 Billion by 2027, exhibiting a CAGR of 5.54% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sector. These insights are included in the report as a major market contributor.
Medical implants are devices that are used to replace or act as a fraction for a particular body part or for the whole biological structure. Every year thousands of people enhance the quality of their lives by going through surgical procedures that involve the fixing or removal of implantable medical devices. At present, implants are used for various parts of the body for different functions such as orthopedics, pacemakers, cardiovascular stents, defibrillators, neural prosthetics or drug delivery system. Implants are introduced either completely or partially via surgical or medical methods into the human body. The device can be implanted permanently or temporarily, depending upon the need and can be removed later on. There has been an increase in the number of age-related diseases with concurrent rise in the life-span of people. This has further increased the demand of various life prolonging medical aids such as new treatments, implants, prostheses, and long-term pharmaceutical usage. Implantable devices are made up of various types of materials such as tissues, metals, bones, plastics, skin, ceramics, etc.
Global Implantable Medical Devices Market Trends:
Catalyzed by a strong growth of consumers’ inclination towards body aesthetics and physical appearance, cosmetic surgeries are becoming increasingly common, driving the demand of implantable medical devices. Moreover, advancing technological innovations that enable an individual to enhance his/her beauty such as dental implants, pectoral implants, deltoid implants, thigh augmentation, breast implants, cochlear implants, etc. have further added to the rising demand of these devices. Additionally, rising occurrence of chronic diseases such as heart failures, arthritis, motor, sensory or cognitive modality, etc. that require various types of implants to sustain the life of a patient are also creating a positive impact on the growth of the market. Moreover, an increase in the geriatric population across both developed and developing regions has resulted in a rising prevalence of various chronic diseases which is further propelling the demand of these products.
Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global implantable medical devices market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, material and end-user.
Breakup by Product Type:
Orthopedic Implants
Dental Implants
Facial Implants
Breast Implants
Cardiovascular Implants
Others
Based on the product type, the market has been segmented into orthopedic implants, dental implants, facial implants, breast implants, cardiovascular implants and others.
Breakup by Material:
Polymers
Metals
Ceramics
Biologics
Based on the material, the market has been segmented into polymers, metals, ceramics and biologics.
Breakup by End-User:
Hospitals
Ambulatory Surgery Centers (ASCs)
Clinics
Based on the end-user, the market has been segmented into hospitals, ambulatory surgery centers and clinics.
Breakup by Region:
North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. North America currently represents the largest market.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Abbott Laboratories, Biotronik, Boston Scientific Corporation, C. R. Bard, Inc., Cardinal Health, Inc., Conmed Corporation, Globus Medical, Inc., Integra Lifesciences Holdings Corporation, Johnson & Johnson, LivaNova PLC, Medtronic plc, Nuvasive, Inc., Smith & Nephew Plc, St. Jude Medical, Inc., Institut Straumann AG., Stryker Corporation, Wright Medical Group N.V. and Zimmer Biomet Holdings, Inc.
This report provides a deep insight into the global implantable medical devices market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the implantable medical devices industry in any manner.
Key Question Answered in this Report
1. What is the market size for the global implantable medical devices market?
2. What are the global implantable medical devices market drivers?
3. What are the key industry trends in the global implantable medical devices market?
4. What is the impact of COVID-19 on the global implantable medical devices market?
5. What is the global implantable medical devices market breakup by product type?
6. What is the global implantable medical devices market breakup by material?
7. What is the global implantable medical devices market breakup by end-user?
8. What are the major regions in the global implantable medical devices market?
9. Who are the key companies/players in the global implantable medical devices market?
