Implantable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global implantable medical devices market was worth US$ 96.6 Billion in 2018. 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.
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. Looking forward, the market value is projected to reach US$ 143.3 Billion by 2024, exhibiting a CAGR of 6.8% during 2019-2024.
Based on the product type, the market has been segmented into orthopedic implants, dental implants, facial implants, breast implants, cardiovascular implants and others.
Based on the material, the market has been segmented into polymers, metals, ceramics and biologics.
Based on the end-user, the market has been segmented into hospitals, ambulatory surgery centers and clinics.
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.
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 Questions Answered in This Report:
How has the global Implantable medical devices market performed so far and how will it perform in the coming years?
What are the key regional markets in the global implantable medical devices industry?
What is the breakup of the global implantable medical devices market on the basis of product type?
What is the breakup of the global implantable medical devices market on the basis of material?
What is the breakup of the global implantable medical devices market on the basis of end-user?
What are the various stages in the value chain of the global implantable medical devices market?
What are the key driving factors and challenges in the global Implantable medical devices market?
What is the structure of the global implantable medical devices market and who are the key players?
What is the degree of competition in the global implantable medical devices market?
How are Implantable medical devices manufactured?
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