BLOOMINGTON, Minnesota, August 16, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled "Global Next Generation Implants Market- Analysis and Forecast, 2017-2023", the global next generation implants (such as 3D printed implants) market was estimated to be $1.2 billion in 2016 and is estimated to grow over $3.9 billion by 2023. The global conventional medical implants market was estimated to be $72.25 billion in 2016 and is expected to be $106.90 billion in 2023. The rising geriatric population leading to increased prevalence of age related diseases along with the advent of next generation implants are the main reasons for the growth of this market.
As the world population is aging, the prevalence of age related degenerating diseases is gradually increasing. As per World Health Organization (WHO), the number of people aged 60 years & above will rise to 1.4 billion by 2030. Due to an increase in the geriatric population & improved life expectancy, the number of age related diseases has also increased. This is a major contributor to the increased demand of the medical implant devices. Some of the implants provide structural & functional support such as cardiac valves and joint replacement implants, while others can be life sustaining systems such as implantable pacemakers & defibrillators. The younger population is also a consumer group of these implants due to lifestyle changes. The increased prevalence of obesity, physical inactiveness, and increased consumption of fast food are also key contributors to such diseases & hence, contribute to the demand for implant devices.
Technological advancements such as subcutaneous ICDs, bioabsorbable stents, personalized joint replacements, leadless pacemakers along with minimally invasive procedures, and use of 3D printing technology are further driving the growth of the market.
According to Abdul Wahid Khan, an analyst at BIS Research, "Worldwide, the population of older people (65 years & above) is expected to grow by 60% in the next 15 years. Therefore, by 2030, the population of older people is expected to be about 1 billion, which would be 12% of the total world population. The global conventional medical implants market was dominated by the orthopedic segment with an estimated value of $34.7 billion in 2016.Within the orthopedic segment, joint replacement was the leading segment with an estimated value of $16.2 billion in 2016. "
Major contributor towards the market in 2016 was the orthopedic segment in the conventional implant market. The market for orthopedic segment was estimated to be $34.74 billion in 2016. Moreover, in the next generation implant market, the dental implant was leading segment with approximately 53% market share in 2016.
By raw material, metals & its alloys dominated the market with an estimated value of $25.84 billion in 2016.
Geographically, the largest contributor to the growth of the global next generation implants market was found to be North America due to the rising geriatric population and higher prevalence of diseases
This market intelligence report provides a multidimensional view of the global next generation implants market in terms of market size and growth potential. This research report aims at answering various aspects of the global next generation implants market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The study considers the growth-share matrix model for a comprehensive study of the global next generation implants market and assesses the factors governing the same.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to get acquainted with recent market activities such as product launches, regulatory clearance, certifications, partnerships, collaborations, business expansion, as well as mergers and acquisitions etc. The research report provides a comprehensive analysis of product sales, manufacturers and trend analysis by segments and demand by geographical regions.
This report is a meticulous compilation of research on more than 150 players in the market ecosystem and draws upon insights from in-depth interviews with key opinion leaders of more than 60 leading companies, market participants, and vendors. The report also profiles 27companies including many key players such as Novartis AG, Johnson & Johnson,Wright Medical Group N.V, Abbott Laboratories, Edwards Lifesciences Corporation, MEDTRONIC PUBLIC LIMITED COMPANY, Institut Straumann AG, Globus Medical Inc., Smith & Nephew plc and STRYKER CORPORATION, among others.
How do the medical implants market evolve and what is its scope in the future?
What is the market share of the leading segments and sub-segments of the global next generation implants market in 2016 and 2023?
How will each segment of the global next generation implants market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
What are the influencing factors that may affect the market share of the key players?
How will the industry evolve during the forecast period between 2016 and 2023?
What are the key developmental strategies implemented by the key players to stand out in this market?
What will be the growth rate of different segments during the forecast period? Which is the leading segment by application and raw material used?
Who are the key players for the next generation of implants market?
How has the market been segmented on the basis of application?
Which geographical location will dominate the next generation implants market by 2023?
Global Orthopedics Devices Market - Analysis & Forecast, 2017-2023:
The global Orthopedics devices market is expected to reach $61 billion by 2023. A growing geriatric population and use of better raw materials like shape memory alloys, improved surgical techniques, and personalized devices are boosting the market.
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defence, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
What distinguishes BIS Research from the rest of the players is that we don't simply provide data, but also complement it with valuable insights and actionable inputs for the success of our clients.