Medical Implants Market – Synopsis:
As per the analysis of Market Research Future (MRFR), the global medical implants market is set to expand at a CAGR of 7.07% during the forecast period 2017 to 2023. The future trajectory of the market is likely to be dictated by the developments in the healthcare sector over the next couple of years.
Medical implants have gained popularity among the patient pool with the rise in the burden of chronic diseases. In addition, the research & development activities undertaken for the advancements in the implants are expected to boost the growth trajectory of the medical implant market in the upcoming years.
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A rise in the patient pool is forecasted backed by the growing aging population. It has been estimated that the elderly population is likely to get doubled by the end of 2020. This, in turn, is anticipated to have a favorable influence on the expansion of the medical implants market.
One of the key factors responsible for accelerating revenue creation for market participants includes the rising expenditure on healthcare. Furthermore, the rising awareness about these implants is presumed to accelerate the adoption of the medical implants market over the assessment period.
Medical Implants Market – Segmentation:
On the basis of type, the medical implants market has been segmented into orthopedic implants, spinal implants, cosmetic implants, dental implants, cardiac implants, ophthalmic implants, and others. Among these, the cardiac implants segment is likely to mark a relatively higher CAGR of 7.63% across the review period.
On the basis of type of material, the global medical implants market is segmented into ceramic material, metallic material, polymers material, and others.
On the basis of end-users, the medical implants market has been segmented into research laboratories, hospitals & clinics, and others.
Medical Implants Market – Regional Analysis:
The global medical implants market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is, at present, the largest market for medical implants and is anticipated to exhibit substantial growth over the assessment period. The factors such as early adoption of advanced technologies, high healthcare expenditures, availability of advanced medical implant devices, etc. are poised to drive the expansion of the medical implants market in the region.
Europe is prognosticated to retain its second position in the marketplace owing to high healthcare expenditure, increasing investments in research & development, etc. Meanwhile, Asia Pacific is anticipated to strike the highest CAGR of 7.55% over the assessment period. The high growth is attributable to the consolidation of fast-developing economies.
The Middle East & Africa is projected to witness sluggish growth due to limited access to developed healthcare facilities. However, the developing healthcare sector of Middle Eastern countries such as Qatar and Kuwait are forecasted to catapult the medical implants market on an upward trajectory.
Medical Implants Market – Competitive Tracking:
Some of the key players profiled in the report are Boston Scientific Corporation (U.S.), Johnson & Johnson Services, Inc. (U.S.), Medtronic (Ireland), Institute Straumann AG (Switzerland), Zimmer Biomet Holdings, Inc. (U.S.), 3M (U.S.), Smith & Nephew (U.K), Stryker Corporation (U.S.), and Dentsply Sirona (U.S.).
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Industry News:
In September 2018, North America-based Southern Implants has received approval for an internal hex dental implant system, Provata, by the FDA.
In September 2018, U.K. based medical device company, Johnson & Johnson Medical, has announced the acquisition of Emerging Implant Technologies (EIT), an established manufacturer of 3D-printed titanium interbody implants.
In December 2018, Medtronic, a global leader in medical technology, services, and solutions, has completed the acquisition of an Israeli Medical Device Company, Mazor Robotics, for USD 1.7 Bn.
In January 2019, Swedish-based Episurf Medical’s Episealer which has been personalized for knee implants has been approved by the Food & Drug Administration (FDA).
Brief Table of Contents:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Medical Implant Market, by Type
7 Global Medical Implant Market, by Type of Material
TOC CONTINUED…!
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