According to QY Research Medical, the implantable medical devices market was estimated at $91,868.94 million in 2020, and is projected to surpass $179,032.75 million by 2030, growing at a CAGR of 7.2% from 2021 to 2030.
According to QY Research Medical, the implantable medical devices market was estimated at $91,868.94 million in 2020, and is projected to surpass $179,032.75 million by 2030, growing at a CAGR of 7.2% from 2021 to 2030.
Implantable medical devices are the devices or tissues, which are placed inside or on the surface of the body. Many implants are prosthetics, intended to replace missing body parts. Some other implants deliver medication, monitor body functions or provide support to organs and tissues. The implants are placed permanently for diagnostic, monitoring, or therapeutic purposes or they can also be removed once they are no longer needed. The long-term implants have the advantage of being in a constant-temperature environment where adhesive joint has the additional challenge of complex loading conditions and ever increasing device-lifetime requirements.
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The implantable medical devices market growth is driven by the rise in prevalence of chronic diseases coupled with the rapidly ageing population, surge in cardiovascular & neurological illnesses, and improvements in active implanted medical devices. Moreover, increased awareness and technological advancements in medical implant, rise in the investments & funds to develop technologically advanced products, and upsurge in the applications of neurostimulators contributes toward the growth of the market. However, high implantation cost and lack of trained professionals in the medical surgeries sector are expected to hinder the market growth. Conversely, the increase in number of the reimbursement policies offers implantable medical devices market opportunity.
Scope of the Report
| Report Coverage | Details |
| Market Size in 2020 | $91,868.94 Million |
| Revenue Forecast by 2030 | $179,032.75 Million |
| CAGR | 7.2% from 2021 to 2030 |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
Coronavirus (COVID-19) was discovered in late December, 2019, in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the reduced hospitals admissions of the patients to undergo implant surgery were observed. It was due to the reason that people feared getting infected during a period of distancing and lockdown. Various regions reported reduction in patients’ admission in the hospital indicating that many patients with moderate and severe disabilities avoided the hospital visits. Overall, the impact of COVID-19 on the implantable medical devices industry was recorded to be fairly negative. This was attributed to decrease in the demand for the implant surgeries. Moreover, the market players have reduced the investment in raw materials and resources owing to the decline in number of hospital admission of the patients to undergo the implant surgeries.
The implantable medical devices market is segmented on the basis of product and region. Based on product, the implantable medical devices market size is categorized into orthopedic implants, dental implants, breast implants, cardiovascular implants, intraocular lenses, and other implants. The orthopedic implants are further classified as spinal implants and reconstructive joint replacements. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Product segment review
By the product, the global implantable medical devices market is classified into orthopedic implants, dental implants, breast implants, cardiovascular implants, intraocular lenses, and other implants. Other implants segment was the major implantable medical devices market share to the global implantable medical devices market size in 2020, and is anticipated to remain dominant during the implantable medical devices market forecast period due to technological advancements in the implantable medical devices, increase in adoption of implantable medical devices, rise in incidence rate of chronic cardiovascular diseases, and surge in number of advanced and effective product launches.
Region Segment Review
North America accounted for major share of the global implantable medical devices market share in 2020, and is expected to remain dominant throughout the forecast period. This has attributed to increase in incidences of chronic diseases, surge in demand for implantable medical devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities coupled with large presence of key players, and upsurge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at high CAGR in Asia-Pacific implantable medical devices market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, surge in healthcare reforms, and technological advancements in the field of implants.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the implantable medical devices market analysis from 2020 to 2030 to identify the prevailing implantable medical devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the implantable medical devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global implantable medical devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- BY PRODUCT
- Breast Implants
- Other Implants
- Orthopedic Implants
- Cardiovascular Implants
- Intraocular Lens
- Dental Implants
- BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- North America
Key Market Players
- Abbott Laboratories
- Biotronik SE and Co. KG
- Boston Scientific Corporation
- C. R. Bard, Inc.
- Cardinal Health, Inc.
- CONMED Corporation
- Globus Medical, Inc.
- Integra LifeSciences Holdings Corporation
- Johnson and Johnson
- LivaNova PLC
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About Us
QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover China, US, EU, Asia, Middle East and Africa, South America, Australia, and other regions in the world.
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