Medical Implants Market - Improved Patient Awareness and Rise in Disposable Incomes in the Developing Countries
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Key factors driving market growth include technological advances such as bioabsorbable stents, an increase in the incidence of chronic diseases, and an increase in the elderly population worldwide. Improving patient awareness and increasing disposable income in developing countries will further increase the adoption of medical implants. Demand for medical implants is expected to increase due to the emergence of emerging market market opportunities and minimally invasive surgical procedures. Alternatively, high-cost medical implants and limited coverage are key factors that impede market growth.
This device is classified as reconstructive arthroplasty, orthopedic surgery, and trauma and craniomaxillofacial, among which rehabilitation arthroplasty took first place in market share in 2015.
Nerve stimulants have emerged as the fastest growing segment, registering a CAGR of 12.7% over the forecast period. The main contributing factor to the growth of this sector is the increased prevalence of neurological diseases, higher adoption rates in developed countries and the number of clinical trials. The metal segment was the major biomaterial in 2015 as it increased its use as a prosthetic implant and a load on dental implants.
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Key findings of Medical Implants Market:
• Orthopaedic implant generated the highest revenue in 2015, and is projected to grow at a CAGR of 7.2% during the forecast period.
• The neurostimulators segment is expected to grow at a remarkable CAGR of 12.7% during the analysis period.
• U.S. is the major shareholder accounting for 70.7% share of the overall North American medical implants market.
• Dental implants market is projected to grow at a CAGR of 8.2%.
• Germany accounted for around one-fourth share of the European medical implants market in 2015.
• Japan medical implants market is expected to continue to be the highest revenue-generating market in Asia-Pacific.
The major strategies adopted by the leading market players include new product launches & approvals and collaborations. In March, 2016, Zimmer Biomet launched the hip replacement offering and knee implant systems. It enhanced the companys implant and musculoskeletal treatment product portfolio and helped to strengthen their existing product portfolio.
The major companies profiled in this report include Stryker Corporation, Boston Scientific Corporation, Johnson & Johnson, Integra Lifesciences Holdings Corporation, Medtronic Plc., Smith & Nephew Plc., St. Jude Medical, Inc., Zimmer Biomet Holdings, Inc., C.R. Bard Inc., LivaNova Plc., and Straumann AG.
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