Active Implantable Medical Devices Market 2021 - 2027 Size, Industry Share, Growth, COVID-19 Analysis, Top Key Players : Boston Scientific Corporation, Biotronik, LivaNova PLC, Globus Medical, Inc., NuVasive

Rise in prevalence of chronic diseases, supportive initiatives from medical health insurance companies for critical issues, and increase in awareness regarding different types of implants drive the growth of the global medical implant market. However, high cost of treatment and stringent approval process restrain the market growth. Contrarily, technological advancements in implants present new opportunities in the coming years.

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According to the report published by Allied Market Research, the medical implant industry estimated $85.38 billion in 2019, and is estimated to generate $147.46 billion by 2027, manifesting a CAGR of 7.2% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, top investment pockets, key segments, major winning strategies, product performance, and competitive scenario.

The growth of the global medical implants market is attributed to increase in geriatric population, surge in awareness about therapeutic applications of medical implants, and alarming increase in prevalence of chronic diseases. Furthermore, innovation and technological advancements in medical implants notably contribute toward the growth of the global medical implant market.

As per the industry experts, long-term effect of COVID-19 outbreak is expected to be witnessed over the coming years. The outbreak has led to financial crisis in many countries. Thus, the number of vascular surgeries has been significantly reduced. This measure is expected to keep hospital beds and healthcare providers available for COVID-19 patients, as well as to save personal protective equipment (PPE) and reduce viral transfer between patients and staff.

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Covid-19 Scenario

New guidelines regarding medical implantation have been released by governing authorities. The American College of Surgeons (ACS) released guidelines for triage of vascular surgery patients. These guidelines outlined that non-emergency peripheral vascular procedures such as endovascular therapy for claudication and others should be postponed.

The implant surgeries are restricted to life or limb salvaging cases only and the staff has been reallocated to take care of patients infected with coronavirus. Moreover, this step has been taken to avoid possibility of cross-contamination.

The metallic biomaterials segment to maintain its lead position by 2027

Based on biomaterial type, the metallic biomaterials segment contributed to the highest share in 2019, accounting for nearly two-thirds of the global medical implant market, and is projected to maintain its lead position by 2027. This is attributed to rise in aging population, increase in research and development investments, surge in applications of biomaterials, demand for plastic surgery, and reimbursements provided by Center for Medicare and Medicaid Services. However, the polymers biomaterials segment is expected to portray the highest CAGR of 9.4% during the forecast period. This is due to prevalence of chronic diseases across the globe and demand for cardiac regeneration.

Leading market players

Medtronic Plc.
Johnson and Johnson
Boston Scientific Corporation
Biotronik
LivaNova PLC
Globus Medical, Inc.
NuVasive, Inc.
Integra LifeSciences Holding Corporation
Institut Straumann AG
Conmed Corporation

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