Rockville , Feb. 22, 2024 (GLOBE NEWSWIRE) -- The medical implants market size is estimated to be US$ 86,687.2 million in 2024. The market has experienced significant growth and is expected to reach US$ 1,80,912.8 million by 2034, with a steady CAGR of 7.6%. These artificial devices or tissues replace or enhance damaged biological structures, mimicking the function of natural tissues and organs, thereby improving patients' quality of life and health outcomes.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9524
The medical implant industry is experiencing significant growth due to the rising prevalence of chronic disease among older adults, offering a practical alternative to conventional treatment methods, such as neurological, orthopedic, and cardiovascular implants. Moreover, the burden of musculoskeletal disorders is on the rise, which has further bolstered the demand for medical implants.
The high cost of implant treatment and the stringent rules and regulations or approval processes for medical implants likely hamper the market growth. The high cost of implant treatment can make it less affordable for patients, particularly in developing and underdeveloped countries, leading to lower demand for medical implants. On the other hand, the stringent approval processes can increase the time and cost of getting medical implants approved, making it difficult for manufacturers to bring new products to the market.
The medical implant market is expected to proliferate throughout the projection period, driven primarily by a robust product pipeline. Over the next ten years, the sector is anticipated to grow gradually as more innovative and potent implantations are developed and made available. As a result, businesses and start-ups will have an excellent opportunity to profit from the growing demand for organic implantations.
| Report Attribute | Details |
| Value Projection (2034) | US$ 1,80,912.8 million |
| Growth Rate (2024-2034) | 7.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Key Takeaways from the Market Study
- The medical implant market is expected to grow at 7.6% through 2034.
- The market for medical implants in North America is expected to expand with a CAGR of 8.1% through 2034.
- The medical implants industry in East Asia is projected to grow at a rate of 9.3% until 2034.
- In 2024, the United States medical implant market is likely to command 90.8% of the market.
- China is anticipated to have 57.1% of the market share in 2024 for medical implants.
“Development in smart implant technology embedded with sensors to reduce the failure rates of implants and improve patient satisfaction is the key focus of medical device manufacturers in developed and emerging economies.” States the Fact.MR. Analyst
Key Market Players Profiled in This Report
- Novartis International AG
- Sorin S.p.A
- Boston Scientific Corporation
- Smith & Nephew plc
- Tornier N.V.
- Stryker Corporation
- Johnson & Johnson Limited
- Abbott Laboratories
- Edwards Life-sciences Corporation
- Orthofix International N.V.
- Biotronik, Inc.
- Livanova Plc
- NuVasive, Inc.
- Institut Straumann AG
Medical Implants Market Fosters Novel Developments Worldwide
Market players focus on providing reasonably priced therapy and smart solutions to thrive in the highly competitive medical implant industry. Leading companies emphasize getting FDA clearance and developing regional distribution partnerships to expand their market reach and revenues. Local production helps businesses reach new markets, increase customer satisfaction, and reduce operating expenses.
To expand their range of medical implant products, healthcare industry players proactively devote resources to research and development. These companies aggressively extend their global reach by introducing new products, concluding agreements, seeking mergers and acquisitions, and raising awareness.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9524
Explore More Related Studies Published by Fact.MR Research:
Cochlear Implant Market: The global cochlear implant market size was valued at US$ 2.2 Billion and is anticipated to reach at US$ 9 Billion by the year 2032.
Ocular Implants Market: Ocular implants demand is forecast to be valued at US$ 19.47 Bn by 2032.
Brain Implants Market: The global brain implants market is valued at US$ 6.6 billion in 2022 and is predicted to expand at a high-value CAGR of 11% to reach US$ 11.1 billion by the year 2027.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
