Professional research study says global Implantable Medical Devices Market was valued at $72,265 million, and is expected to reach $116,300 million by 2022, supported by a CAGR of 7.1%, Ask Report Sample @ http://www.researchbeam.com/implantable-medical-devices-market/request-sample
Research Beam added report on “World Implantable Medical Devices Market Overview, Analysis, Demand, Report, Trends, Growth and Research – Implantable Medical Devices Market by Product Type (Orthopedic, Dental Implants, Breast Implants, Cardiovascular Implants, Intraocular lens, and Others) and By Material (Metallic, Ceramic, Polymers, and Natural) – Global Opportunities and Forecasts, 2014-2022”
An implant is a medical device, which is used to replace or support any damaged body organs, improve the functioning of body organs, or treat defects in normal body functions. These can be surgically implanted either permanently or temporarily in the human body, and can be removed when dispensable. These implantable devices comprise bones, tissues, skin, ceramics, metals, plastics, and other natural materials. The report analyzes the implantable medical devices market based on product and geography.
According to the AMR analysis, the other implants market, including neurostimulators, orthobiologics, trauma & craniomaxillofacial implants, glaucoma implants, and facial implants, has the largest scope of applications for implantable devices, owing to rise in consumer awareness, innovative technological advancements, increase in incidence of neurological disorders among geriatric population, upsurge in FDA approvals for clinical trials, spiraling development of advanced implantable devices, and improved clinical outcomes.
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The orthopedic implants segment bagged the largest market in terms of the total shares in global implantable medical devices market in 2015, due to rise in incidence of obesity and osteoporosis-related fractures. Furthermore, the number of patients opting for orthopedic implant surgeries have increased among in the age group of under 55 years to over 80 years. Moreover, increase in awareness about the benefits of such surgeries on the quality of life has fueled the adoption of these devices, especially in developing countries such as India and China. In addition, improvement of healthcare infrastructure in the developing countries has boosted the growth of the orthopedic implants market. New technologies, such as patient-specific implants, especially in knee arthroplasty, using 3D technology and sculptural CAD are being developed, which have numerous benefits over off-the-shelf implants.
The other implants market is estimated to generated output of 49,239 thousand units by 2019 at a CAGR of 14.8% from 2016 to 2022. This is due to the growth of the neurostimulation, orthobiologics, trauma & craniomaxillofacial, and facial implants segments. The neurostimulation segment has witnessed significant growth in the recent years, owing to innovative technological advancements, increase in incidence of neurological disorders among geriatric population, launch of cost-effective products, rise in consumer awareness, and growth in the number of regulatory approvals for these devices. In addition, the sales of orthobiologics has increased due to increase in cases related to sport injuries, accidents, ageing population and rise in awareness & preference among patients & surgeons. Similarly, the trauma & craniomaxillofacial implants market is driven by factors such as increase in the number of road and sports accidents every year, susceptibility of geriatric population to fractures, technological improvements such as use of robotic arm to assist CMF surgery, and introduction of bioabsorbable implants for cranial fixation. A similar trend was observed in the facial implants segment due to the development of 3D printed implants, hyaluronic acid facial fillers, and injectable implant treatment procedures.
Top Winning Strategies
The key players operating in the global implantable medical devices market have launched novel concepts and ideas, improved manufacturing techniques, and upgraded the current set of products to sustain the stiff competition in the market. Therefore, key players have adopted product approval and launch as their key developmental strategies to cater to the changing demands of end users. Companies have received approvals from different countries for launching new technologically advanced products and expanding their product offerings across geographical areas. Furthermore, they have launched cost-effective and technologically efficient treatment devices to strengthen their market position. For instance, Medtronic plc received the U.S. FDA approval for The Micra TPS, the world’s smallest pacemaker that is implanted directly into the heart with the help of a catheter. Moreover, it received the CE Mark approval for this device in April 2015. With this approval, Medtronic began a global clinical trial in the U.S. for facilitating 1.5T- and 3T full-body MRI scans. In addition, Zimmer Biomet launched its hip replacement offering and knee implant systems in March 2016, which expanded its portfolio of implants and musculoskeletal treatment products and strengthened its existing product portfolio with new developments and technologies.
Implantable Medical Devices Market Segmentaion
The global implantable medical devices market is segmented based on product type and geography.
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