According to the latest report by IMARC Group, titled “Implantable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a value of US$ 120.5 Billion in 2021. Medical implants are artificial devices that are inserted into the human body either temporarily or permanently to support and replace the damaged biological structure. They include implantable cardiac defibrillators (ICDs), coronary stents, cardiac pacemakers, interocular lenses, and hip implants. These devices assist in monitoring and enhancing body organ functions, treating defects, and providing support to tissues. At present, implantable biomedical devices are commercially available in orthopedic, dental, breast, and cardiovascular implant types.
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The global implantable medical devices market is primarily being driven by the increasing prevalence of neurological and coronary arterial diseases, especially amongst the rising geriatric population. This, along with a rising awareness amongst consumers regarding the availability of cosmetic surgeries for enhancing physical appearance has further intensified the demand for implantable medical devices across the globe. In line with this, significant technological advancements, such as the introduction of three-dimensional (3D) printed implants and robotic arms to conduct cranio-maxillofacial surgery (CMF) is further propelling the market growth. Apart from this, the extensive utilization of ultra-high molecular weight polyethylene (UHMWPE) in orthopedic implants due to its high resistance to stress and cracking is contributing to the market growth. Looking forward, IMARC Group expects the market to reach US$ 168.3 Billion by 2027, exhibiting at a CAGR of 5.54% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Abbott Laboratories (NYSE: ABT)
- Boston Scientific Corporation (NYSE: BSX)
- R. Bard, Inc.
- Cardinal Health, Inc. (NYSE: CAH)
- Conmed Corporation ((NYSE: CNMD))
- Globus Medical, Inc. (NYSE: GMED)
- Integra Lifesciences Holdings Corporation (NASDAQ: IART)
- Johnson & Johnson (NYSE: JNJ)
- LivaNova PLC (NASDAQ: LIVN)
- Medtronic plc (NYSE: MDT)
- Nuvasive, Inc. (NASDAQ: NUVA)
- Smith & Nephew Plc (NYSE: SNN)
- Jude Medical, Inc.
- Institut Straumann AG. (OTCMKTS: SAUHY)
- Stryker Corporation (NYSE: SYK)
- Wright Medical Group N.V.
- Zimmer Biomet Holdings, Inc. (NYSE: ZBH)
Key Highlights of the Market Segmentation:
Breakup by Product Type:
- Orthopedic implants
- Dental implants
- Facial implants
- Breast implants
- Cardiovascular implants
Breakup by Material:
- Market trends
Breakup by End-User:
- Ambulatory surgery centers (ascs)
Breakup by Region:
- North america
- Asia pacific
- Middle east and africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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