Implantable Medical Devices Market is Forecasted to Magnify at a CAGR of 6.1% by 2027
Worldwide implantable medical devices market is forecasted to accelerate at a CAGR of 6.1% from 2022 to 2027. Increase in chronic disease prevalence, rising ageing population, and advancements in active implanted medical devices are contributing to the market growth for implantable medical devices.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7728?PS
Moreover, higher investments and funding for the development of technologically advanced products, increased awareness of medical implant improvements, and an increase in the use of neurostimulators are also aiding market expansion.
Recently, more patients have undergone total knee and hip transplant surgeries as a result of an increase in bone fractures and injuries. The incidence of fractures, arthritis, and knee pain is also increasing the demand for orthopedic implants.
The incidence of cardiovascular diseases is rising, and obesity rates are high, which are the main drivers that are likely to fuel market growth for implantable medical devices.
Medical professionals and patients can monitor their illnesses to receive an early update with the use of implantable medical devices. These wireless, automated devices assess a patient's sensitivity to a prescribed medicine dosage. The rising prevalence of neurological illnesses such as Parkinson's disease and spasticity is driving the demand for active implantable medical devices.
๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ ๐๐ซ๐จ๐ฆ ๐๐๐ซ๐ค๐๐ญ ๐๐ญ๐ฎ๐๐ฒ
โข The global implantable medical devices market is predicted to reach US$ 155 billion by 2027.
โข Market in Canada is projected to evolve at a CAGR of 5.5% over the forecast period (2022-2027).
โข Market in Germany is forecasted to rise at a CAGR of 4% through 2027.
โข Demand for cardiovascular implants is predicted to increase at a CAGR of 5.8% from 2022 to 2027.
"Increasing investments in R&D by government organizations for product innovations, rising adoption of innovative implantation methods such as robot-assisted orthopedic surgeries, growing awareness of the accessibility of implantable medical devices, rising disposable income, and growing consumer spending on healthcare services are factors driving market growth," says a Fact.MR analyst
๐๐ก๐ฒ ๐ข๐ฌ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐จ๐ซ ๐ข๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐๐๐ฅ๐ ๐ฆ๐๐๐ข๐๐๐ฅ ๐๐๐ฏ๐ข๐๐๐ฌ ๐ ๐ซ๐จ๐ฐ๐ข๐ง๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ?
The drivers driving market expansion in the U.S. include rising consumer healthcare spending, increased use of minimally invasive procedures, and increased public knowledge of the availability of different medical implants.
Constant improvements in medical technology, the availability of state-of-the-art healthcare facilities with qualified medical staff, expanding consumer demand for active implanted devices, and rising government spending in the healthcare system all contribute to the market's value growth.
๐๐ฆ๐ฉ๐ฅ๐๐ง๐ญ๐๐๐ฅ๐ ๐๐๐๐ข๐๐๐ฅ ๐๐๐ฏ๐ข๐๐๐ฌ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
By Product Type :
Orthopedic Implants
Cardiovascular Implants
Dental Implants
Intraocular Lens
Breast Implants
Others
By Material :
Ceramic
Metal
Polymer
By Nature of Device :
Active
Passive
By End User :
Hospitals
Ambulatory Surgical Centers
Multi-specialty Centers
By Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
๐๐ข๐ง๐ง๐ข๐ง๐ ๐๐ญ๐ซ๐๐ญ๐๐ ๐ฒ
Top market participants are concentrating on creating customized implants. Additional factors driving market growth include established distribution channels and strategic alliances with significant service providers to broaden product reach. Key market players are offering technologically advanced implantable medical devices to gain an advantage in the extremely competitive industry.
For instance,
In 2021, a total knee system without cement was introduced by Smith & Nephew. Conceloc Advanced Porous Titanium, a proprietary material that is patented for 3D printing, is used to make the implant.
Medtronic obtained innovative device designation from the FDA for completely implantable left ventricular assist equipment for patients with severe heart failure. This recognition will enable the organization to treat or diagnose diseases that are life-threatening more effectively, increasing the size of its clientele.
๐๐๐ฒ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐๐ซ๐จ๐๐ข๐ฅ๐๐
โข Silimed
โข Straumann
โข Stryker Corporation
โข Allergan PLC
โข CEREPLAS
โข BioHorizons IPH, Inc.
โข Implantech
โข Dentsply Sirona, Inc.
โข Establishment Labs S.A.
โข GROUPE SEBBIN SAS
โข Heraeus Holding GmbH
โข Ideal Implant Inc.
โข Ivoclar Vivadent AG
โข Nobel Biocare Holding AG
โข Osstem Implant Co., Ltd.
โข Polytech Health & Aesthetics Gmb
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ซ ๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ:https://www.factmr.com/connectus/sample?flag=RC&rep_id=7728?PS
๐๐จ๐ซ๐ ๐๐๐ฅ๐ฎ๐๐๐ฅ๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ง ๐๐๐๐๐ซ
Fact.MR, in its new offering, presents an unbiased analysis of the global implantable medical devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product type (orthopedic implants, cardiovascular implants, dental implants, intraocular lens, breast implants, others), material (ceramic, metal, polymer), nature of device (active, passive), and end user (hospitals, ambulatory surgical centers, multi-specialty centers), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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