Implantable Medical Devices Market: Rise in Demand for Minimally Invasive Procedures to Driven the Market
- According to Transparency Market Research’s latest report on the global Implantable Medical Devices market for the historical period 2017–2018 and forecast period 2019–2027. Increase in prevalence of coronary arterial diseases (CADs), rise in demand for minimally invasive procedures and rise in geriatric population are projected to drive the global market during the forecast period.
- According to the report, the global implantable medical devices market was valued at US$ 37,700.8 Mn in 2018 and is anticipated to expand at a CAGR of 4.6 % from 2019 to 2027. In terms of volume, the global implantable medical devices were accounted at 10,712,732 units in 2018.
Rise in prevalence of coronary arterial diseases (CADs): Key Drivers
- The number of patients suffering from chronic degenerative ailments such as arthritis and chronic cardiac disease is increasing rapidly
- In many instances patients cannot be cured by pharmacological treatments. These implants can prove to be life savers. The baby boomers have increased with time. This will lead to high prevalence of chronic degenerative diseases, which in turn will increase demand for implantable devices
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Rising incidences of Dental Problems: Key Drivers
- Intake of junk/unhealthy food has increased across the globe in the past few years. This has had an adverse effect on the population’s overall health and even dental health. Hence, people are opting for dental implants. The dental implants are also utilized in orthodontics and periodontics as well.
Increase in Usage of Substitute Materials for Implants to Hamper Market
- Development of substitutes of traditional materials used in the manufacture of implants will lead to intense competition among companies that manufacture medical implants. Ultra-high molecular weight polyethylene (UHMWE) or high density polyethylene are popularly being used in orthopedic implants
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Global Implantable Medical Devices Market: Competitive Landscape
- This report profiles major players in the global implantable medical devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global implantable medical devices market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global Implantable Medical Devices market are
- Abbott
- Boston Scientific Corporation
- Danaher Corporation
- Dentsply Sirona
- Institut Straumann AG
- Johnson & Johnson Services Inc
- Medtronic
- Smith & Nephew
- Stryker
- Terumo Corporation
- Zimmer Biomet
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Global Implantable Medical Devices Market: Key Developments
Key players in the global implantable medical devices market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global implantable medical devices market. A few expansion strategies adopted by players operating in the global implantable medical devices market are:
- In January 2018, Zimmer Biomet launched Sidus Stem-Free Shoulder system, a total shoulder arthroplasty solution that allows the restoration of a range of motions through its strong clinical performance. This enabled the company to expand its product offering to customers in shoulder arthroplasty
- In September 2016, the company entered into an agreement to acquire the assets of Instratek, an orthopedic implants and endoscopic instrumentation manufacturer. This acquisition enabled the company strengthen its leadership in the forefoot and upper extremity segment
- In March 2015, Smith & Nephew plc acquired EuroCiencia Colombia (ECC), which has been Smith & Nephew's sole distributor for orthopedic reconstruction, trauma, and sports medicine products in Colombia since 2006
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The report on the global implantable medical devices market discussed individual strategies, followed by company profiles of manufacturers of implantable medical devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global implantable medical devices market.
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