Global Implantable Medical Devices Market to reach US$ 49.8 Bn in 2024: Transparency Market Research

Transparency Market Research has published a new market report titled, “Implantable Medical Devices Market (By Product: Reconstructive Joint Replacement, Spinal Implants, Dental Implants, and Cardiovascular Implants; By Material: Titanium, Stainless Steel, Titanium Alloy, Co-Cr Alloy, and Zirconium): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the global implantable medical devices market was valued at US$ 32.3 Bn in 2015 and is anticipated to expand at a CAGR of 4.9% from 2016 to 2024 to reach US$ 49.8 Bn in 2024.

The report on the global implantable medical devices (IMD) market has been classified on the basis of four categories: product type, material, end-user, and geography (regions & countries). Major product segments are orthopedic implants, dental implants, and cardiovascular implants. Major material segments are titanium, stainless steel, titanium alloys, cobalt-chromium alloy, and zirconium. The report offers a detailed description behind the steady growth rate of the market and a possible growth trajectory at the global as well as regional level in terms of revenue, volume, and market share for each product, material, and end-user segment. The report is, thus, compiled with the intent of updating the stakeholders with the incumbent market dynamics through a graphical illustration and in-depth analysis of each segment considered within the study scope.

Browse the full report at http://www.transparencymarketresearch.com/global-implantable-medical-devices-market.html

Geographically, the market has been segmented into seven regions: North America, Western Europe, Asia Pacific Ex. Japan (APEJ), Eastern Europe, Japan, Middle East & Africa (MEA), and Latin America. These regions have been further segmented into major national markets such as North America (U.S. and Canada), Western Europe (U.K., Germany, France, Italy, and Spain), APEJ (China, India, Australia, New Zealand, and ASEAN), Middle East & Africa (GCC and South Africa), and Latin America (Brazil and Mexico). The regional markets have been further segmented based on key product type, material, and end-user segments.

North America accounted for the largest share of 42.2% of the global implantable medical devices market in 2015, followed by Europe and APEJ. North America is expected to continue its dominance during the forecast period from 2016 to 2024. Well-established health care infrastructure, availability of reimbursements, aging population, high obesity rates, and/or high purchasing power of the general population are attributed to the dominance of the region. Key national market, i.e. the U.S., is projected to be a leading market in North America from 2016 to 2024. The U.S. alone accounted for more than 93% share of the IMD market in the region in 2015. In terms of product type, the orthopedic implants segment dominated the market in North America, accounting for over 60% share in terms of revenue in 2015.

Western Europe held the second largest share of the global implantable medical devices market in terms of revenue in 2015. Germany was a major market for implantable medical devices in Europe in 2015. The titanium segment dominated the market in Western Europe, followed by the titanium alloys segment.

The implantable medical devices market in Asia Pacific excluding Japan is expected to witness the fastest growth rate from 2016 to 2024. This is due to improving health care infrastructure, growing medical tourism, rising health care awareness, and increasing purchasing power of the people in the region. In terms of product type, the orthopedic and dental implants segments are expected to witness high CAGRs in the region during the forecast period.

Japan is the second largest market for implantable medical devices after the U.S. The market in the country is expected to witness high growth during the forecast period from 2016 to 2024. Factors such as large geriatric population, high prevalence of orthopedic disorders, rising incidence of cardiovascular disorders, and continuous demand for advanced medical technologies are expected to contribute to the growth of the IMD market in Japan.

Brazil is a key market in Latin America. The country accounted for the largest share of the IMD market in the region in 2015. Due to increasing investments in health care, Brazil is expected to register high growth during the forecast period. Recent economic developments and ongoing investments in health care infrastructure within the country contribute largely to the growth of the market in the region.

You can download a Research PDF at http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=13946

Other regions such as Eastern Europe and Middle East & Africa (MEA) are also expected to contribute significantly to the global IMD market in the near future. Growth of the IMD market in these regions are attributed to increasing prevalence of chronic degenerative diseases, constantly growing geriatric population, increasing investment in medical technology and rapid advancement and upgrade of the health care systems in the regions.

Key players operating in the global implantable medical devices market are Abbott Laboratories, Boston Scientific Corporation, Danaher Corporation, Dentsply Sirona, Institut Straumann AG, Johnson & Johnson, Medtronic plc, Smith & Nephew plc, Stryker Corporation, Terumo Corporation, and Zimmer Biomet Holdings. The implantable medical devices market is largely consolidated, with the presence of several large global players and a few local players operating in the market.

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.