Global Medical Implants Market Size By Product Type (Cardiovascular Implants, Orthopedic Implants, Neurostimulators), By Material(Ceramic, Metallic, Polymers), By Geographic Scope And Forecast
Report ID: 306271|No. of Pages: 202
Global Medical Implants Market Size By Product Type (Cardiovascular Implants, Orthopedic Implants, Neurostimulators), By Material(Ceramic, Metallic, Polymers), By Geographic Scope And Forecast
Medical Implants Market Size And Forecast
Medical Implants Market size is growing at a moderate pace with substantial growth rates over the last few years and it is estimated that the market will grow significantly in the forecasted period i.e.2023 to 2030.
One of the major drivers of global Medical Implant Market growth is the growing elderly population. According to the World Health Organization (WHO), the number of people over the age of 65 is expected to rise from 524 million in 2010 to approximately 1.5 billion by 2050. By 2050, there will be 379 million people over the age of 80 in the world, which is expected to be 5.5 times the 65 million in 2000. Age is linked to a gradual decline in functional reserve in a variety of organ systems, including the heart, brain, and ears. The Global Medical Implants Market report delivers a holistic evaluation. The report thoroughly analyzes vital segments, trends, drivers, restraints, competitive landscape, and factors that play a substantial role in the market.
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Global Medical Implants Market Definition
Implantable medical devices or systems have advanced over the last six decades as a result of advances in science and engineering, particularly in microelectronics, biotechnology, and materials. A medical device is defined as implantable if it is surgically or medically implanted into a human body and is intended to remain there after the procedure. From Zoll’s first report on electrical heart stimulation in 1952 to Cardiomems’ introduction of the first commercialized wireless blood pressure measurement system in 2010, medical experts have made valiant efforts to improve the quality of patients’ lives with various medical devices such as the implantable cardiac defibrillator, cochlear implant, implanted bladder stimulator, and implantable wireless pressure sensor. Implantable medical devices of this type were created to detect physiological responses in vivo or to activate physiological organs.
Technological advancement has improved the monitoring, diagnosis, and treatment of a variety of diseases and conditions. Microelectronics and signal processing techniques are being used in the development of new Medical Implants. The wireless technology used in Medical Implants has the added benefit of combining diagnosis and treatment in one device. Pacemakers, cochlear implants, retinal implants, spinal cord stimulators, and other microelectronic Medical Implants are among the options. These gadgets have proven to be effective. Metals, ceramics, and polymers are among the materials used to make such implants.
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Global Medical Implants Market Overview
One of the major drivers of global Medical Implant Market growth is the growing elderly population. According to the World Health Organization (WHO), the number of people over the age of 65 is expected to rise from 524 million in 2010 to approximately 1.5 billion by 2050. By 2050, there will be 379 million people over the age of 80 in the world, which is expected to be 5.5 times the 65 million in 2000. Age is linked to a gradual decline in functional reserve in a variety of organ systems, including the heart, brain, and ears. As a result, it is not surprising that elderly patients make use of inequitable medical resources. Approximately 92 percent of the elderly have at least one chronic illness, and 77 percent have at least two chronic diseases.
The increase in COVID-19 cases, many countries have gone into lockdown, suspending trade with other countries and imposing travel restrictions, resulting in a drop in medical services. The number of visits to hospitals and clinics for medical reasons has been found to be declining, resulting in a drop in demand for surgeries and, as a result, Medical Implants. In addition, when compared to growth rates over the previous decade, manufacturers have seen a significant drop in revenue. However, these restraints were only in place for a limited time in 2020, and the market is expected to grow at a significant rate following the COVID-19 pandemic.
Moreover, the emergence of innovative implantable products with improved performance and simple surgical procedures is expected to support the market’s growth rate during the forecast period. Favorable government policies are likely to open up several opportunities for both new and established manufacturers in the market. Another promising factor in assisting the market to reach new heights of growth is the rising prevalence of cardiovascular diseases and increasing demand for active implantable devices, particularly in developing countries.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Medical Implants Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Medical Implants Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Global Medical Implants Market Segmentation Analysis
The Global Medical Implants Market is Segmented on the Basis of Product Type, Material, And Geography.
Medical Implants Market, By Product Type
- Cardiovascular Implants
- Orthopedic Implants
- Neurostimulators
- Spinal Implants
- Facial Implants
- Dental Implants
- Others
Based on Product Type, the market is segmented into Cardiovascular Implants, Orthopedic Implants, Neurostimulators, Spinal Implants, Facial Implants, Dental Implants, and Others. Orthopaedic Implants is likely to have the largest market share in the coming years.
Medical Implants Market, By Material
- Ceramic
- Metallic
- Polymers
Based on Material, the market is segmented into Ceramic, Metallic, and Polymers. In orthopedic implants, metals such as titanium, stainless steel, and cobalt-chromium alloys are commonly used for joint replacements and bone screws.
Medical Implants Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Based on Regional Analysis, the Global Medical Implants Market is classified into North America, Europe, Asia Pacific, Latin America, And Middle East and Africa. Due to largely untapped market potential, improving healthcare facilities, and a rapidly growing geriatric population in countries in the region, revenue from the Asia Pacific market for Medical Implants is likely to grow at the fastest rate among the regions covered in this report over the forecast period.
Key Players
The “Global Medical Implants Market” study report will provide valuable insight with an emphasis on the global market including some of the major players Smith & Nephew Plc, Stryker Corporation, Medtronic Plc, Institute Straumann AG, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Biotronik SE & CO., KG, Abbott Laboratories, C. R. Bard, Inc., Cardinal Health, Inc., CONMED Corporation, Globus Medical, Inc., Integra LifeSciences Holdings Corporation, Johnson and Johnson, LivaNova PLC.
Our market analysis also entails a section solely among others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| KEY COMPANIES PROFILED | Smith & Nephew Plc, Stryker Corporation, Medtronic Plc, Institute Straumann AG, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Biotronik SE & CO., KG, Abbott Laboratories, C. R. Bard, Inc., Cardinal Health, Inc. |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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