Implantable Medical Devices Market Share Report | Growth Outlook 2022 to 2030

Market Insights and Analyst View:

An implantable medical device is a device that is either completely or partially implanted into the body. These medical devices are often implanted during surgical procedures by physicians. Implantable medical devices, as compared to surgical medical devices, remain in the body after the surgery. Key factors driving the implantable medical devices market growth include the growing areas of application of implantable medical devices and rising cases of spinal cord injury.

Growth Drivers and Restraints:

According to the WHO, in 2022, the US recorded 50 million epilepsy cases; 1 billion migraine cases; and 400,000 spinal cord injury cases. Spinal cord stimulation is one of the most preferred techniques in treating chronic back pain, primarily due to the anatomical and functional abilities of the spinal cord nerves to control the sensation of pain. The incidence of spinal cord injuries has rapidly increased over the past decade. The National Spinal Cord Injury Statistical Center (NSCISC) 2021 fact sheet states that the annual incidence of spinal cord injuries is 60 cases per million. According to the article "Epidemiology of traumatic spinal cord injuries: a large population-based study," published in April 2022, the overall age-sex standardized incidence rate of traumatic spinal cord injuries was 26.5 per 1 million population, and the rates were directly related to age in both sexes, in 2021. According to the same source, in the elderly population (65 years and older), the rate is 59.2 and 23.3 per 1 million in males and females, respectively.

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Market Players Density: Understanding Its Impact on Business Dynamics:

The Implantable Medical Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Competitive Landscape and Key Companies:

These companies focus on new technologies, advancements in existing products, and geographic expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios.

• Abbott Laboratories
• Boston Scientific Corp
• Dentsply Sirona Inc
• Johnson & Johnson
• Medtronic Plc
• Institut Straumann AG
• Smith & Nephew Plc
• BIOTRONIK SE & Co KG
• LivaNova Plc

SEGMENTATION:

The study conducts a SWOT analysis of each company to evaluate strengths and weaknesses. It also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Implantable Medical Devices market segments and regions.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Implantable Medical Devices Market based on various segments. It also provides market size and forecast with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Implantable Medical Devices Market by each region is later sub-segmented by respective countries and segments.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Food and Beverages, Consumers and Goods, Chemicals and Materials.

This release was published on openPR.