Medical Implants Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence

November 04 19:45 2022
Medical Implants Market Size Share Trends Growth Demand and Competitive Analysis Insights 2022-2029 | DataM Intelligence
DataM Intelligence
The Medical Implants Market is expected to grow at a CAGR of 8.5% during the forecast period 2022-2029.

Market Overview:

Medical Implants Market size was valued US$ 97,920.4 million in 2021 and is estimated to reach US$ 183,724.6 million by 2029, growing at a CAGR of 8.5% during the forecast period (2022-2029).

The clinical enterprise has made use of metallic instruments for centuries, from the primary scalpels and forceps to modern implants and scopes. As clinical science has advanced, the packages of implants have increased and changed. Manufacturing strategies have also superior, growing the layout possibilities for scientific implants. Specifically, technological and scientific improvements have made clinical implants an crucial a part of contemporary medical tool manufacturing.

Implants are devices or tissues which might be inserted internal or at the floor of the frame. A few implants are made of the pores and skin, bone, or other body tissues while some are made from metallic, plastic, ceramic, or different substances. The maximum regularly used implants fall into the categories of cardiovascular, neuroprosthetic, and orthopedic implants.

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Market Dynamics

The worldwide scientific implants marketplace is developing due to numerous factors which includes, growing research and development activities, growing prevalence of chronic illnesses, and advancement in product through producers.

Increasing occurrence of persistent sickness and rising R&D sports are expected to drive the marketplace boom.

An increasing wide variety of chronic sicknesses is in general using the worldwide clinical implants market in current years and is anticipated to remain the same over the forecast duration. For example, in line with the Journal of Clinical and Diagnostic Research, greater than 20,000 pacemakers are implanted each yr in India and the numbers are developing yearly.

According to Ohio State University 2020, more than 600,000 knee replacement surgical procedures are completed in the United States every yr which is nearly double the surgeries achieved during 2011, technological improvements are improving the accuracy and reducing the surgical treatment time and restoration time.

Increasing studies and trends in clinical generation, surging geriatric population are growing the demand for international implants over the forecast period. For instance, in Jan 2021, Medtronic announced that DiamondTemp ablation device were given accepted via U.S.FDA for treatment of sufferers which have recurrent, paroxysmal atrial traumatic inflammation. It is the 1st FDA authorised irrigated radiofrequency ablation device that is temperature managed.

Market Segmentation:

By Implant Type

By Material Type

  • Ceramic
  • Polymer
  • Metallic

By End User

  • Hospitals
  • ASCs
  • Dental Hospitals
  • Orthopedic Centers

Competitive Landscape

The medical implants market is highly competitive with presence of large number of players. Some of the major players in the global Medical Implants market are: Boston Scientific Corporation, Medtronic, Johnson & Johnson Services, Inc, 3M, Institut Straumann AG, Stryker Corporation, Zimmer Biomet Holdings, Inc, Smith & Nephew, Dentsply Sirona, Tornier N.V.

The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Medical Implants market globally. For instance,

In Feb 2022, Medtronic announced U.S. FDA approved Freezor and Freezor Xtra cardiac cryoablation focal catheters. These are the first ablation catheters approved by FDA for the treatment of pediatric atrioventricular nodal reentrant tachycardia.

Trending Topics:

Retinal Implants Market

Cosmetic Implants Market

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