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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
Active Implantable Medical Devices Market
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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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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