Medical Implant Market Business Development, Size, Share, Analysis And Opportunities To 2027

Rise in prevalence of chronic diseases and increase in awareness regarding different types of implants drive the growth of the global medical implant market.

According to the report, the medical implants industry garnered $85.38 billion in 2019, and is projected to generate $147.46 billion by 2027, witnessing a CAGR of 7.2% from 2020 to 2027.

Prime determinants of growth

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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The orthopedic implants segment to maintain its lion's share during the forecast period

Based on product type, the orthopedic implants segment held the largest market share, accounting for nearly two-fifths of the global medical implant market in 2019, and will maintain its lion's share during the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 7.3% from 2020 to 2027. This is due to surge in rate of obesity and increase in osteoporosis-related fractures amongst all age groups. The research also analyzes segments including cardiovascular implants, spinal implant, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants.

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.

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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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