New York, Oct. 17, 2022 (GLOBE NEWSWIRE) -- The global medical implants market is projected to increase from a growth of US$ 14.75 Bn in 2022 to US$ 36 Bn by the end of 2032. The market is likely to progress at a high-value CAGR of 9.3% through 2032, as per the latest industry analysis by Persistence Market Research.
“Growing Prevalence of Chronic Diseases”
There is a significant rise in the population that is experiencing chronic diseases. In addition, the rapid rate of technological advancements in the implant industry is predicted to increase the adoption of these solutions. Increasing awareness among the global population related to artificial implants is also predicted to support the growth opportunities in the medical implants market in the coming years.
“High Prices of Implantation”
People need to invest a handsome amount in the process of implantation. Further, inadequate reimbursement policies are anticipated to limit the adoption of these solutions around the world. A dearth of skilled healthcare professionals is also likely to inhibit growth opportunities in the global market in the years ahead.
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Medical Implants Overview
Medical implants are artificial devices or tissues, which are used to replace damaged biological structures or enhance an existing biological structure. Some of the implants are made from skin, bone, or other body tissues. Others are made from metal, plastic, or ceramic materials. Medical implants can be permanent or can be taken out when they are no longer needed.
There are some risks and complications associated with medical implantation, such as infections, surgical risks, and implant failure. Medical implants are used in areas such as cardiovascular, orthopedic, neurological disorders, dental, and others.
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Medical Implants Industry Research by Category
By Product Type:
- Orthopedic Implants
- Cardiovascular Implants
- Stents
- Stent-related Implants
- Structural Cardiac Implants
- Spinal Implants
- Neurostimulators
- Opthalmic Implants
- Dental Implants
- Facial Implants
- Breast Implants
By Biomaterial Type:
- Metallic Biomaterials
- Ceramic Biomaterials
- Polymers Biomaterials
- Natural Biomaterials
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Key Market Players
An increasing number of mergers and acquisitions and rapid product launches are some of the latest trends that have been observed in the global medical implants market. Some of the major companies operating in the global medical implants market are Johnson & Johnson Limited, Abbott Laboratories, Edwards Life-sciences Corporation, Orthofix International N.V., Novartis International AG, Sorin S.p.A, Boston Scientific Corporation, Smith & Nephew plc, Tornier N.V., and StrykerCorporation.
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