Implantable Medical Devices Market Projections 2025 | Medtronic, Zimmer Biomet, Stryker, Johnson & Johnson, and Abbott
As per reports by the Centers for Disease Control and Prevention, a person dies every second from some kind of cardiovascular disorder in the United States. Furthermore, some disorders cannot be alleviated through medication alone, as a consequence, implantable medical devices which provide faster recovery and better results are being rapidly adopted.
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Thousands of people are improving their quality of life by adopting implantable medical devices through surgical procedures, which would further contribute in the market growth considerably over the projected timeline.
Additionally, prominent market players are adopting new technologies as well as right surface materials, in order to eliminate recall rates and provide effective methods of treatment to patients, thereby accelerating the customer preference towards the implantable medical devices market.
Moreover, consequent approvals from FDA for implantable medical devices would further impact the market share.
As per a research report by GMI, global implantable medical devices market is estimated to surpass $138.5 billion by 2025.
The cardiovascular implantable medical devices segment registered a revenue share of 26.0% in 2018. The number of people suffering from cardiovascular diseases is growing at a distinguished pace across the globe. Cardiovascular devices like coronary stents, artificial heart valves, pacemakers and others have saved numerous lives while also improving the quality of life for millions of people.
As per WHO, cardiovascular disorders are one of the most prominent causes of death across the globe and the number of people suffering from this ailment is further expected to increase to nearly 23 million by 2030. This growing demographic is anticipated to further accelerate segmental growth in coming years.
Meanwhile, factors like growing awareness among people, adoption of improved cardiovascular devices and growing healthcare expenditure for the improved healthcare services will also help boost the industry growth.
On the geographical front, the market of implantable medical devices in India is expected to record a momentous CAGR of 10.3% during the projected timeline. High frequency of chronic diseases, increasing number of road accidents and rising awareness among population about medical implants would promote industry growth in the region.
Furthermore, India is one of the fastest developing countries in terms of technology and economy, which further favors the Indian medical device industry to prosper. Key market players have also built themselves a local presence by starting up new business or acquiring domestic companies, thereby playing a crucial role in shaping the industrial growth.
All in all, the above-mentioned factors are likely to offer a wide range of growth opportunities for global implantable medical devices market. The competitive landscape of global implantable medical devices market includes companies like Abbott Laboratories, Allergan, Medtronic, Boston Scientific Corporation, Cochlear and Zimmer Biomet among others.
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Partial Chapter of the Table of Content
Chapter 5. Implantable Medical Devices Market, By Type
5.1. Key segment trends
5.2.1. Market size, by region, 2014-2025 (USD Million)
5.3.1. Market size, by region, 2014-2025 (USD Million)
Chapter 6. Implantable Medical Devices Market, By Nature of Device
6.1. Key segment trends
6.2.1. Market size, by region, 2014-2025 (USD Million)
6.3.1. Market size, by region, 2014-2025 (USD Million)
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