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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Implantable Medical Devices Market Analysis
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.
Implantable Medical Devices Market Report Snapshots
Implantable Medical Devices Market Analysis
Implantable Medical Devices Companies
*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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Key Questions Answered in the Report
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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