Press release
The Promising Future of Smart Medical Implants: A Booming Market with Cutting-Edge Innovations
The global smart medical implants market is poised for remarkable growth, with a projected Compound Annual Growth Rate (CAGR) of 18.1% from 2023 to 2031. As per a recent report published by Transparency Market Research (TMR), this burgeoning market is expected to reach a valuation of US$ 24.8 billion by 2031, compared to its 2023 value of US$ 5.7 billion. Several factors are driving this phenomenal growth, including the aging population, increasing prevalence of chronic diseases, technological advancements, and rising healthcare expenditures. In this article, we delve into the key trends, growth drivers, regional dynamics, and major players in the smart medical implants market.๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ณ๐ผ๐ฟ ๐ฎ ๐๐ฎ๐บ๐ฝ๐น๐ฒ ๐ผ๐ณ ๐๐ต๐ถ๐ ๐ฟ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฟ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ฎ๐ (๐จ๐๐ฒ ๐๐ผ๐ฟ๐ฝ๐ผ๐ฟ๐ฎ๐๐ฒ ๐ ๐ฎ๐ถ๐น ๐๐ฑ ๐ณ๐ผ๐ฟ ๐ค๐๐ถ๐ฐ๐ธ ๐ฅ๐ฒ๐๐ฝ๐ผ๐ป๐๐ฒ) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85785
๐๐ฟ๐ถ๐๐ถ๐ป๐ด ๐๐ผ๐ฟ๐ฐ๐ฒ๐ ๐๐ฒ๐ต๐ถ๐ป๐ฑ ๐๐ต๐ฒ ๐๐ฟ๐ผ๐๐๐ต
Aging Population and Chronic Diseases: The global population is aging rapidly, leading to a higher demand for medical interventions. With age comes a higher likelihood of chronic diseases that require advanced medical implants for treatment and monitoring.
Technological Advancements: Smart medical implants are benefiting from continuous technological advancements. These devices can incorporate user interfaces and smartphone apps that provide patients with real-time information, exercise recommendations, and medication reminders, which enhance patient engagement and adherence to treatment regimens.
Minimally-Invasive Procedures: Growing patient preference for minimally-invasive surgical methods has boosted the adoption of advanced medical technologies, including smart medical implants, which offer less invasive and more precise treatment options.
Increasing Healthcare Expenditure: Developed countries, in particular, are witnessing a surge in healthcare expenditures, which supports the adoption of advanced medical technologies aimed at improving patient care, including smart medical implants.
Rapid Urbanization and Rising Disposable Income: As urbanization accelerates and disposable income levels rise, more individuals can afford advanced medical treatments and implants, contributing to market growth.
Research and Development: Intensive research and development efforts by key industry players are spurring innovation in smart medical implants, leading to more effective and patient-friendly devices.
๐๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐
Market Valuation: In 2022, the smart medical implants market was valued at US$ 5.7 billion, showcasing its remarkable growth potential.
Application Trends: Among various applications, Chronic Obstructive Pulmonary Disease (COPD) treatments are expected to experience significant demand, contributing to a high revenue share during the forecast period.
Product Dominance: Mouthpieces and oxygen masks are anticipated to dominate the product segment, reflecting the importance of respiratory health in the market.
End-User Dynamics: Hospitals are expected to generate high revenue due to increased demand for respiratory disposables in hospital settings.
๐๐๐ ๐๐ต๐ถ๐ ๐ฃ๐ฟ๐ฒ๐บ๐ถ๐๐บ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ | ๐๐บ๐บ๐ฒ๐ฑ๐ถ๐ฎ๐๐ฒ ๐๐ฒ๐น๐ถ๐๐ฒ๐ฟ๐ ๐๐๐ฎ๐ถ๐น๐ฎ๐ฏ๐น๐ฒ ๐ฎ๐ -
https://www.transparencymarketresearch.com/checkout.php?rep_id=85785<ype=S
๐๐ฒ๐ ๐ง๐ฟ๐ฒ๐ป๐ฑ๐ ๐ฎ๐ป๐ฑ ๐ข๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐๐ถ๐ฐ ๐๐ฟ๐ผ๐ป๐๐ถ๐ฒ๐ฟ๐
Personalized Medicine: The increasing demand for personalized medicine and patient-centric care is driving the need for smart medical implants that provide targeted treatments tailored to individual patient needs.
Consumer Acceptance: As consumers increasingly accept smart implantable devices, both healthcare professionals and patients are contributing to the growth of the smart medical implants market during the forecast period.
Battery Life: Manufacturers are focusing on developing smart implants with improved battery life, ensuring they can operate for extended periods without frequent replacements or recharging.
๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป๐ฎ๐น ๐๐ป๐ฎ๐น๐๐๐ถ๐
North America: Leading the smart medical implants market, North America benefits from factors like the high rate of orthopedic implants and expanding use of aesthetic dental procedures. The presence of significant market participants and technological innovations further drives growth in the region.
Asia Pacific: This region is poised to account for a significant market share, driven by increased disposable income, government and corporate investments in cutting-edge healthcare infrastructure, rising adoption of minimally-invasive operations, and improved public awareness regarding medical implants.
๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐๐ฎ๐ป๐ฑ๐๐ฐ๐ฎ๐ฝ๐ฒ
The smart medical implant market is highly consolidated, with a few major players dominating the industry. Leading companies are investing in new product development, mergers, and acquisitions to maintain a competitive edge. Some notable players in the market, according to TMR, include:
Ibex Medical Analytics
EarlySign
Cancer Center.ai
Microsoft
Flatiron
Path AI
Therapixel
Tempus
Paige AI, Inc.
Kheiron Medical Technologies Limited
SkinVision
Freenome
Whiterabbit.ai
Mindpeak GmbH
๐๐ฒ๐ ๐๐ฒ๐๐ฒ๐น๐ผ๐ฝ๐บ๐ฒ๐ป๐๐
Medtronic: The company has developed the Micra Transcatheter Pacing System, a leadless pacemaker that eliminates the need for pacing leads, enhancing patient comfort and reducing complications. Medtronic continues to research and develop innovative cardiac and neurological implants with smart capabilities.
Abbott Laboratories: Abbott introduced the CardioMEMS Heart Failure System, an implantable pulmonary artery pressure sensor that enables remote monitoring and early detection of heart failure symptoms. The company focuses on developing advanced cardiovascular and neuromodulation devices with connectivity and monitoring features.
๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐ฒ๐ด๐บ๐ฒ๐ป๐๐ฎ๐๐ถ๐ผ๐ป
The smart medical implants market can be segmented by application, product, end-user, and region:
๐๐ฝ๐ฝ๐น๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป:
Orthopedic Implants
Cardiovascular Implants
Ophthalmic Implants
Dental Implants
Others
๐๐ป๐ฑ-๐๐๐ฒ๐ฟ:
Hospitals and Clinics
Ambulatory Surgical Centers
Research Institutes and Academic Centers
Others
๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป:
North America
Europe
Asia Pacific
Middle East & Africa
South America
๐๐๐ฏ๐ ๐๐ง๐ฒ ๐๐ฎ๐๐ซ๐ฒ? ๐๐ฌ๐ค ๐๐ฎ๐ซ ๐๐ฑ๐ฉ๐๐ซ๐ญ๐ฌ:-
https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=85785
๐ ๐ผ๐ฟ๐ฒ ๐ง๐ฟ๐ฒ๐ป๐ฑ๐ถ๐ป๐ด ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐๐ ๐ฏ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฝ๐ฎ๐ฟ๐ฒ๐ป๐ฐ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต -
Teleradiology Services Market
https://www.globenewswire.com/en/news-release/2023/01/18/2591216/0/en/Teleradiology-Services-Market-to-Reach-US-26-4-Billion-by-2031-Transparency-Market-Research-Inc.html
Cardiac Implantable Electronic Device Market
https://www.globenewswire.com/en/news-release/2023/01/17/2590390/0/en/Cardiac-Implantable-Electronic-Device-Market-to-reach-US-16-1-Billion-by-End-of-2031-Reveals-Transparency-Market-Research-Inc.html
๐๐ฏ๐ผ๐๐ ๐จ๐ ๐ง๐ฟ๐ฎ๐ป๐๐ฝ๐ฎ๐ฟ๐ฒ๐ป๐ฐ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐ผ๐ป๐๐ฎ๐ฐ๐ ๐จ๐
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
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