Implantable Medical Devices Market to grow by USD 51.1 billion from 2022-2027 | North America to account for 45% of market growth - Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The implantable medical devices market size is expected to grow by USD 51.1 billion from 2022 to 2027. In addition, the momentum of the market will progress at a CAGR of 8.25% during the forecast period, according to Technavio's Research. The market is segmented by Type (Orthopedic implants, Cardiovascular implants, Ophthalmic implants, Dental implants, and Other implants), End-user (Hospitals, Clinics, and Others), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 45% to the growth of the global market during the forecast period. The growth of the implantable medical devices market in the region can be attributed to the increasing prevalence of orthopedic and cardiovascular diseases and conditions, new product launches, favorable reimbursements for implant surgeries, and several initiatives by governments and non-profit organizations toward creating awareness about various healthcare conditions. Furthermore, there is an increase in demand for orthopedic implants due to the rising prevalence of orthopedic conditions. The conditions include osteoporosis, arthritis, spinal disorders, and knee injuries. Hence, such factors drive the growth of the regional market during the forecast period. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read Free PDF Sample Report

Company Profile:

Abbott Laboratories, AbbVie Inc., B.Braun SE, BIOTRONIK SE and Co. KG, Boston Scientific Corp., Cardinal Health Inc., Conmed Corp., Global Consolidated Aesthetics Ltd., Globus Medical Inc., Ideal Implant Inc., Institut Straumann AG, Johnson and Johnson, LivaNova Plc, Medtronic Plc, Nuvasive Inc., Orthofix Medical Inc., Osstem and Hiossen Implant UK, Smith and Nephew plc, Stryker Corp., Zimmer Biomet Holdings Inc.

Abbott Laboratories: The company offers implantable medical devices such as AVEIR DR dual chamber leadless pacemaker system, AVEIR VR leadless pacemaker, and Assurity MRI pacemaker.

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Implantable Medical Devices Market: Segmentation Analysis

By Segment - The orthopedic implants segment is significant during the forecast period. This segment includes reconstructive joint replacements, ortho biologics, trauma and craniomaxillofacial, and knee, hip, and spine replacement implants. Conditions like knee injuries, hip fractures, spinal injuries, joint disorders, and craniomaxillofacial defects drive segment growth. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View Free PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Implantable Medical Devices Market: Driver & Trend:

Driver

• Rise in the number of people with chronic illnesses
• Implantable medical product launches by vendors
• Increasing number of cosmetic implants

The rise in number of people with chronic illnesses drives the implantable medical devices market. Factors like the rise in the prevalence of orthopedic conditions, including osteoporosis, arthritis, hip and knee injuries, and bone deformities drive the demand for joint reconstruction implants. According to the Centers for Disease Control and Prevention (CDC), in the US, an estimated 54.4 million adults (22.7% of the total population) are diagnosed with some form of arthritis, rheumatoid arthritis, gout, lupus, or fibromyalgia every year. Hence, such factors drive the growth of the implantable medical devices market during the forecast period.

Strategic alliances among market vendors are a key trend in the implantable medical devices market. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

Related Reports:

The medical devices market size is estimated to grow by USD 177.95 billion at a CAGR of 5.87% between 2022 and 2027. Technavio has segmented the market into product, end-user, and geography. The increasing initiatives and awareness by public and private organizations driving market growth.

The global 3D printing medical devices market size is estimated to grow by USD 3,964.87 million at a CAGR of 18.81% between 2022 and 2027. Technavio has segmented the market into Application, End-user, and Geography. North America is estimated to contribute 39% to the growth of the global market during the forecast period. 

What are the key data covered in this implantable medical devices market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the implantable medical devices market between 2022 and 2027.
• Precise estimation of the implantable medical devices market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the implantable medical devices market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of implantable medical devices market vendors.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio