Worldwide Sales Of Implantable Medical Devices Are Forecasted To Magnify At A CAGR Of 6.1% By 2027

As per the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, worldwide sales of implantable medical devices are forecasted to accelerate at a CAGR of 6.1% from 2022 to 2027.Recently, more patients have undergone total knee and hip transplant surgeries as a result of an increase in bone fractures and injuries. The incidence of fractures, arthritis, and knee pain is also increasing the demand for orthopedic implants.

Increase in chronic disease prevalence, rising ageing population, and advancements in active implanted medical devices are contributing to the market growth for implantable medical devices. Moreover, higher investments and funding for the development of technologically advanced products, increased awareness of medical implant improvements, and an increase in the use of neurostimulators are also aiding market expansion.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:https://www.factmr.com/connectus/sample?flag=S&rep_id=7728?PJ

Incidence of cardiovascular diseases is rising, and obesity rates are high, which are the main drivers that are likely to fuel market growth for implantable medical devices.

Medical professionals and patients can monitor their illnesses to receive an early update with the use of implantable medical devices. These wireless, automated devices assess a patient's sensitivity to a prescribed medicine dosage. The rising prevalence of neurological illnesses such as Parkinson's disease and spasticity is driving the demand for active implantable medical devices.

𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬 𝐟𝐫𝐨𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲

• The global implantable medical devices market is predicted to reach US$ 155 billion by 2027.
• Market in Canada is projected to evolve at a CAGR of 5.5% over the forecast period (2022-2027).
• Market in Germany is forecasted to rise at a CAGR of 4% through 2027.
• Demand for cardiovascular implants is predicted to increase at a CAGR of 5.8% from 2022 to 2027.

"Increasing investments in R&D by government organizations for product innovations, rising adoption of innovative implantation methods such as robot-assisted orthopedic surgeries, growing awareness of the accessibility of implantable medical devices, rising disposable income, and growing consumer spending on healthcare services are factors driving market growth," says a Fact.MR analyst

𝐖𝐡𝐲 𝐢𝐬 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐟𝐨𝐫 𝐢𝐦𝐩𝐥𝐚𝐧𝐭𝐚𝐛𝐥𝐞 𝐦𝐞𝐝𝐢𝐜𝐚𝐥 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬?

The drivers driving market expansion in the U.S. include rising consumer healthcare spending, increased use of minimally invasive procedures, and increased public knowledge of the availability of different medical implants.

Constant improvements in medical technology, the availability of state-of-the-art healthcare facilities with qualified medical staff, expanding consumer demand for active implanted devices, and rising government spending in the healthcare system all contribute to the market's value growth.

𝐈𝐦𝐩𝐥𝐚𝐧𝐭𝐚𝐛𝐥𝐞 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

• By Product Type :

• Orthopedic Implants
• Cardiovascular Implants
• Dental Implants
• Intraocular Lens
• Breast Implants
• Others

• By Material :

• Ceramic
• Metal
• Polymer

• By Nature of Device :

• Active
• Passive

• By End User :

• Hospitals
• Ambulatory Surgical Centers
• Multi-specialty Centers

• By Region :

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲

Top market participants are concentrating on creating customized implants. Additional factors driving market growth include established distribution channels and strategic alliances with significant service providers to broaden product reach. Key market players are offering technologically advanced implantable medical devices to gain an advantage in the extremely competitive industry.

𝐅𝐨𝐫 𝐢𝐧𝐬𝐭𝐚𝐧𝐜𝐞,

• In 2021, a total knee system without cement was introduced by Smith & Nephew. Conceloc Advanced Porous Titanium, a proprietary material that is patented for 3D printing, is used to make the implant.

• Medtronic obtained innovative device designation from the FDA for completely implantable left ventricular assist equipment for patients with severe heart failure. This recognition will enable the organization to treat or diagnose diseases that are life-threatening more effectively, increasing the size of its clientele.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

• Silimed
• Straumann
• Stryker Corporation
• Allergan PLC
• CEREPLAS
• BioHorizons IPH, Inc.
• Implantech
• Dentsply Sirona, Inc.
• Establishment Labs S.A.
• GROUPE SEBBIN SAS
• Heraeus Holding GmbH
• Ideal Implant Inc.
• Ivoclar Vivadent AG
• Nobel Biocare Holding AG
• Osstem Implant Co., Ltd.
• Polytech Health & Aesthetics GmbH

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 - https://www.factmr.com/connectus/sample?flag=RC&rep_id=7728?PJ

𝐌𝐨𝐫𝐞 𝐕𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐨𝐧 𝐎𝐟𝐟𝐞𝐫

Fact.MR, in its new offering, presents an unbiased analysis of the global implantable medical devices market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.

The study divulges essential insights on the market on the basis of product type (orthopedic implants, cardiovascular implants, dental implants, intraocular lens, breast implants, others), material (ceramic, metal, polymer), nature of device (active, passive), and end user (hospitals, ambulatory surgical centers, multi-specialty centers), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

𝐅𝐚𝐜𝐭.𝐌𝐑'𝐬 𝐃𝐨𝐦𝐚𝐢𝐧 𝐊𝐧𝐨𝐰𝐥𝐞𝐝𝐠𝐞 𝐢𝐧 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector.

Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

𝐆𝐞𝐭 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨: https://www.factmr.com/report/implantable-medical-devices-market

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This release was published on openPR.