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The global implantable medical device market value was USD 126.72 billion in 2023, driven by the advancements in implantable device technologies across the globe. The market size is anticipated to grow at a CAGR of 6.4% during the forecast period of 2024-2032 to achieve a value of USD 221.48 billion by 2032.
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The global implantable medical devices market is being driven by the rapid technological advancements and development in the field of medicine and the rise in the number of people undergoing surgeries. The number of age-related diseases with a corresponding increase in people's life span has been growing. This has increased the demand for several life prolonging medical aids, such as new treatments, implants, long-term pharmaceutical usage, and others. Every year thousands of people enhance the quality of their lives by performing surgical procedures involving the insertion or removal of implantable medical devices. Implants are commonly used in different parts of the body for various functions such as orthopaedics, cardiovascular stents, defibrillators, and others.
The orthopaedic implants segment, among other product types, dominates the market. Hospitals represent the largest end-user segment for the product. Currently, polymer is the most preferred material among manufacturers to produce implantable medical devices. Region-wise, North America represents the largest market for implantable medical devices, holding most of the industry share owing to the availability of advanced technology and improved healthcare infrastructure in the region. In emerging regions, such as the Asia Pacific, increased investment in the healthcare sector is expected to provide enhanced opportunities to the industry for its growth over the forecast period.
Medical implants are instruments used to replace or serve as a fraction for a certain part of the body or for the entire biological structure. Implantable devices are composed of different types of materials like tissues, metals, bones, skin, ceramics, and others. Implants are inserted into the human body either wholly or partially through surgical or medical methods. Depending on the need, it can be permanently or temporarily inserted and can be removed later.
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On the basis of product, the industry is divided into:
Based on material, the industry is segmented into:
On the basis of end-use, the industry is categorised into:
The report also covers the regional markets like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The global implantable medical devices market is being driven by the growth in the medical devices industry and the rise in the number of surgical procedures taking place across the globe. Currently, the demand for implantable medical devices is increasing in both developed and emerging economies due to the growing geriatric population and burgeoning age-related disorders. In addition, growing occurrences of chronic diseases such as arthritis and cardiac failure that require various types of implants to save patients' lives reinforce the growth of the industry. The rising disposable incomes, rapid urbanisation, and the growing global population are supporting the industry growth. The rise in the demand for cosmetic surgeries is further driving the demand for implantable medical devices.
With rapid technological advancements, the medical devices industry has been witnessing several innovations to enhance the treatment procedure and product-efficiency. To meet the rising consumer demand for minimally invasive surgical procedures, manufacturers are continuously enhancing their product range. Key players in the industry are increasingly investing in the research and development activities, which is expected to aid the industry growth over the forecast period.
The report gives a detailed analysis of the following key players in the global implantable medical devices market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansion, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Material |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The implantable medical device market was valued at USD 126.72 billion in 2023.
The market is expected to grow at a CAGR of 6.4% from 2024 to 2032 to reach a value of USD 221.48 billion by 2032.
The major drivers of the industry, such as the growth in the medical devices industry and rise in the number of surgical procedures, growing geriatric population, burgeoning age-related disorders, and growing occurrences of chronic diseases such as arthritis and cardiac failure, are expected to aid the market growth.
The key trend guiding the growth of the market includes the enhancements of product range to meet the rising consumer demand for minimally invasive surgical procedures.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest market share.
The major products of implantable medical devices in the industry are orthopaedic implants, dental implants, facial implants, breast implants, and cardiovascular implants, among others.
The major materials available within the market are polymers, metals, ceramics, and biologics.
The significant end-use sectors in the market are hospitals, ambulatory surgery centres (ASCs), and clinics.
The major players in the industry are Abbott, Biotronik, Inc., Boston Scientific Corporation, Stryker, and Medtronic, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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