- Increase in the number of obese and older population globally is expected to propel the implantable medical devices market, which is projected to cross US$ 56.9 Bn by 2027
ALBANY, N.Y., March 23, 2022 (GLOBE NEWSWIRE) -- The global implantable medical devices market is estimated to expand at a CAGR of 4.6% during the forecast period of 2019 to 2027, notes a report by Transparency Market Research (TMR).
Governments as well as private insurance companies from many developed countries across the globe are providing promising reimbursement policies for different surgical procedures including ENT surgeries. This factor is generating sizable sales opportunities in the global implantable medical devices market.
Major enterprises operating in the implantable medical devices market are focusing on different strategies such as acquisitions and collaborations in order to maintain their leading position in the market. Moreover, several companies are investing heavily in the development, regulatory approvals, and launch of technologically advanced products. Such activities are prognosticated to help the global implantable medical devices market to gain the valuation of US$ 56,997.0 Mn by 2027, states a report by TMR.
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Implantable Medical Devices Market: Key Findings
- Due to unhealthy eating habits and hectic lifestyles, the number of people dealing with lifestyle related diseases such as obesity has been increased in the recent years. Moreover, consuming junk food or unhealthy food is impacting negatively on the dental and overall health of people globally. As a result, there has been a surge in the number of dental implants in the recent years. Moreover, dental implants are also being used in periodontics and orthodontics. Besides, there has been rise in the population suffering from neurological and cardiovascular health disorders across the globe. These factors are boosting the growth opportunities in the global implantable medical devices market, note analysts at TMR.
- With improving spending power of people from many developed and developing nations across the globe, this population pool is inclining toward minimally invasive surgical procedures. Moreover, these surgeries are gaining traction, owing to their many advantages such as reduced side effects, minimum post-surgery complexities, and lesser recovery time. Hence, surge in the adoption of minimally invasive procedures is boosting the demand for implantable medical devices in these geographies. Owing to this factor, the global implantable medical devices market is likely to gain substantial growth prospects in the upcoming years.
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Implantable Medical Devices Market: Growth Boosters
- Growing inclination among global populace toward opting minimally invasive surgical procedures is propelling the global implantable medical devices market
- Increase in older population globally is boosting the sales prospects in the global market for implantable medical devices
- Improving disposable income of population from major parts of the globe is expected to help in driving the implantable medical devices market during the forecast period
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Implantable Medical Devices Market: Regional Analysis
- The implantable medical devices market in North America is prognosticated to maintain its dominant position during the forecast period, owing to factors such as existence of the Affordable Care Act in the U.S., presence of sturdy healthcare infrastructure, and availability of reimbursement policies in the region
- The Asia Pacific implantable medical devices market is anticipated to gain sizable business prospects during the forecast period, due to increase in cases of orthopedic disorders, presence of older population, and rise in understanding on implantable medical devices intended for therapeutics in the region
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Implantable Medical Devices Market: Key Players
Some of the key players profiled in the report are:
- Boston Scientific Corporation
- Abbott
- Dentsply Sirona
- Danaher Corporation
- Johnson & Johnson Services Inc
- Institut Straumann AG
- Smith & Nephew
- Medtronic
- Terumo Corporation
- Stryker
- Zimmer Biomet
Implantable Medical Devices Market Segmentation
Product
- Orthopedic Implants
- Spinal Implants
- Thoraco-lumbar Implants
- Inter-vertebral Spacers
- Non-bone Implants
- Reconstructive Joint Replacement
- Shoulder Implants
- Elbow Implants
- Ankle Implants
- Hip Implants
- Knee Implants
- Spinal Implants
- Dental Implants
- Cardiovascular Implants
Material
- Stainless Steel
- Cobalt-Chromium Alloys
- Titanium
- Titanium Alloys
- Zirconium
End-user
- Hospitals
- 500+ Beds
- 200-499 Beds
- Less than 200 Beds
- Ambulatory Surgery Centers
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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