Jersey City, New Jersey, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Implantable Medical Devices Market” By Equipment (Cardiovascular Implants, Dental Implants, Intraocular Lens), By Material (Metals, Ceramics, Polymers), By End-User (Hospitals, Clinics), and By Geography. According to Verified Market Research, the Global Implantable Medical Devices Market size was valued at USD 84.10 Billion in 2020 and is projected to reach USD 141.08 Billion by 2028, growing at a CAGR of 6.52% from 2021 to 2028.
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Browse in-depth TOC on “Implantable Medical Devices Market”
202 - Pages
126 – Tables
37 – Figures
Global Implantable Medical Devices Market Overview
Owing to the increasing number of diseases and disorders there has been an upsurge in the demand for implantable medical devices. These devices serve the purpose of supporting or replacement of any damaged body organs, and enhance, and treating the functioning of normal body functions. An implantable medical device is one of the important components of patient care.
The growing elderly population is one of the critical elements of globally active implantable medical devices market growth. With age, there is a gradual decline in the functioning of various parts of the human body. Thus, human has to rely on various medical devices for mobility and other assistance. This creates demand for implantable products. Some of the chronic diseases that affect adults include heart disease, arthritis, among others. Osteoarthritis (OA) is one of the most common joint disorders in the United States. Also called degenerative joint disease, it occurs most frequently in the hands, hips, and knees. Thus, with the expanding aging population, the demand for Orthopedic Implants and Reconstructive Joint Replacement is expected to increase in the country. With the rising prevalence of cardiovascular diseases demands for active implantable devices, including cardiovascular implants, is expected to increase, in both developed and developing countries.
The concerns related to the devices such as device failure and network security are likely to hamper the market growth. For instance, the device introduced in the human body may bring out an immune response from the surrounding tissues and resulting performance degradation makes it difficult to use these devices for a long period.
Key Players
The major players in the market are Smith & Nephew Plc, Stryker Corporation, Medtronic Plc, Institute Straumann AG, Zimmer Biomet Holdings, Inc., Boston Scientific Corporation, Biotronik SE & CO., KG, and the rest others.
Verified Market Research has segmented the Global Implantable Medical Devices Market On the basis of Equipment, Material, End-User, and Geography.
- Implantable Medical Devices Market, By Equipment
- Orthopedic Implants
- Cardiovascular Implants
- Dental Implants
- Intraocular Lens
- Breast Implants
- Other Implants
- Implantable Medical Devices Market, By Material
- Polymers
- Ceramics
- Metals
- Biologics
- Implantable Medical Devices Market, By End-User
- Hospitals
- Clinics
- Others
- Implantable Medical Devices Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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