Covina, Jan. 05, 2023 (GLOBE NEWSWIRE) -- Implantable medical devices are placed in the human body either permanently or temporarily to support the functions of specific organs or tissues, monitor physical activity, or deliver drugs. Implant medical devices or tissues that are placed inside or on the surface of the body, many implants are prosthetics, intended to replace missing body parts, other implants deliver changes, monitor body functions, or support organs. Some implants are prosthetics and are intended to replace damaged body parts, these devices can be made of human tissue or exogenous materials such as metals, plastics and ceramics. A medical device is defined as implantable if it is either partially or completely, surgically, introduced into the human body and intended to remain there after the procedure. Three types of cardiac implantable electrical devices are in wide use: pacemakers, implantable cardioverter defibrillators, and cardiac resynchronization therapy devices. A cardioverter defibrillator is a battery-operated medical device that is implanted into the heart tissue, used to monitor heart rhythms and deliver electrical shocks to the heart muscle. In patients with frequent and persistent ventricular tachycardia, the device is implanted to restore a normal heart rhythm and prevent sudden cardiac death. A pacemaker is a small battery-operated device placed under the collarbone that sends electrical impulses to the heart through wires to maintain a normal heartbeat. Intraocular lenses are permanently implanted in the eye to improve vision, reducing the need for glasses or contact lenses. Lenses are made of plastic or silicone and are placed in front or behind the iris. An implantable medical device is a device that is either completely or partially inserted into the body, often, doctors implant these devices during surgery. The most common implants are cochlear implants, intraocular lenses, pacemakers, other cardiac implants, and intrauterine contraceptive devices. Market growth is fueled by an increase in medical research activities to create modern and aesthetically improved technologies due to increase in deformities. Globally, the shortage of organ donors, increase in the incidence of chronic diseases and organ failure will increase the market demand. Attractive reimbursement scenario, increasing prevalence of cardiovascular diseases and high rates of obesity are the key factors driving the expansion of the global implantable medical devices market.
The report “Implantable Medical Devices Market, By Type (Diagnostic, Treatment), By Product (Orthopedic Implants, Cardiovascular Implants, Intraocular Lens, Dental Implants, Breast Implants, Other Implants), By Biomaterial (Ceramic, Metallic, Polymers, and Natural), By Nature of Device (Active, Passive), End User (Hospitals, Ambulatory Surgery centers and clinics) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends Analysis and Forecast till 2032 “
Key Highlights:
- In September 2022, Johnson & Johnson is taking another step toward forming two independent, market-leading companies with the announcement of a new consumer health company planned for September called Kenvue.
- In February 2022, LivaNova PLC, a market-leading medical technology and innovation company, announced the first patient implanted in a diagnostic device suite clinical study “Treating Obstructive Sleep Apnea Using Targeted Hypoglossal Neurostimulation”.
- In December 2022, Medtronic plc, a global healthcare technology leader, announced an expanded URO U.S. contract for the Hugo robotic-assisted surgery system. Announced first patient enrolled in clinical trial.
- Abbott Laboratories ABT recently partnered with Americares India Foundation to upgrade 75 primary health centers across nine states in India into health and wellness centers. These centers are essential to support the government's Ayushman Bharat initiative and will help improve access to healthcare, optimize required resources and reduce the burden on secondary and tertiary health facilities.
Analyst View:
Implantable medical devices are important to healthcare because they improve patient safety and quality of life. Many implantable medical devices monitor vital signs such as heart rate and blood pressure, so they can alert medical professionals if any problems arise and direct individuals to appropriate care. Implant medical devices or tissues that are placed inside on the surface of the body, many implants are prosthetics, intended to replace missing body parts. Other implants deliver drugs, monitor body functions, or support organs and tissues. Innovation in the implantable medical devices market is increasing worldwide, driven by technological developments in implantable medical devices that are more efficient to use. Several major factors driving the growth of the industry in this market include increasing prevalence of various disorders in the fields of cardiovascular, ophthalmology, orthopedics, plastic surgery, dental, and neurology.
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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Implantable Medical Devices Market, By Type (Diagnostic, Treatment), By Product (Orthopedic Implants, Cardiovascular Implants, Intraocular Lens, Dental Implants, Breast Implants, Other Implants), By Biomaterial (Ceramic, Metallic, Polymers, and Natural), By Nature of Device (Active, Passive), End User (Hospitals, Ambulatory Surgery centers and clinics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Implantable Medical Devices Market accounted for US$ 98.6 billion in 2022 and is estimated to be US$ 166.3 billion by 2032 and is anticipated to register a CAGR of 7.2%. The Implantable Medical Devices Market is segmented based on type, product, biomaterial, and nature of device, end user and Region.
- Based on Type, Implantable Medical Devices Market is segmented into Food & Beverages, Oilfield, Paper & Pulp, Detergents, Coatings, and Others.
- Based on Product, Implantable Medical Devices Market is segmented into Thickening Agent, Stabilizer, Binder, Anti-Repository Agent, Lubricator, Emulsifier and Excipient.
- Based on Biomaterial, Implantable Medical Devices Market is segmented into Food & Beverages, Oilfield, Paper & Pulp, Detergents, Coatings, and Others.
- Based on Nature of Device, Implantable Medical Devices Market is segmented into Thickening Agent, Stabilizer, Binder, Anti-Repository Agent, Lubricator, Emulsifier and Excipient.
- Based on End User, Implantable Medical Devices Market is segmented into Food & Beverages, Oilfield, Paper & Pulp, Detergents, Coatings, and Others.
- By Region, the Implantable Medical Devices Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Implantable Medical Devices Market:
The prominent players operating in the Implantable Medical Devices Market includes, Abbott Laboratories, Boston Scientific Corporation, Globus Medical Inc., Johnson & Johnson Inc., LivaNova PLC, Medtronic plc, Nurotron Biotechnology Co., Ltd., Zimmer Biomet Holdings, Inc. Smith & Nephew Plc., Wright Medical Group. The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Scope of the Report:
- Implantable Medical Devices Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Diagnostic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Treatment
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Implantable Medical Devices Market, By Product
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Orthopedic Implants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Cardiovascular Implants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Intraocular Lens
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Dental Implants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Breast Implants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Other Implants
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Implantable Medical Devices Market, By Biomaterial
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Ceramic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Metallic
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Polymers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Natural
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Implantable Medical Devices Market, By Nature of Device
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Active
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Passive
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Implantable Medical Devices Market, By End User, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Ambulatory Surgery Centers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Clinics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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