Global Medical Implant Market Report and Forecast 2024-2032

Global Medical Implant Market Size

The global medical implant market attained a value of around USD 112.52 billion in 2023 driven by the development of advanced biomaterials and increased use of 3D printing technology across the globe. The market is further expected to grow at a CAGR of 7.1% in the forecast period of 2024-2032 to attain a value of USD 208.83 billion by 2032.

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Global Medical Implant Market Outlook

• The market share is influenced by the rising advancements in implant design, leading to the development of smaller, more precise, and easier-to-implant devices.

• The introduction of new and advanced biocompatible materials is a major market trend. The use of such innovative biomaterials is likely to reduce the risk of rejection and increase the durability of medical implants.

• Smart orthopedic implants are poised to gain significant market demand in the forecast period. This can be attributed to to their ability to provide continuous monitoring of patient health and the performance of the implant.

Global Medical Implant Market Overview

A medical implant is defined as a device or tissue intended to replace a missing body part or support a damaged biological structure. It is placed inside or on the surface of the body. These man-made devices can enhance an existing biological structure.

Technological advancements are a significant driver of the market. The rising introduction of advanced biocompatible metals, polymers, and ceramics, that improve the durability and functionality of medical implants is set to fuel the market demand. Innovation in 3D printing technology and growing demand for customized implants are also poised to shape the medical implant market dynamics. The rising prevalence of chronic diseases including a high incidence of orthopedic disorders, cardiovascular diseases, and dental issues are boosting the market size. Moreover, increased regulatory approvals of novel medical implants and continuous improvements in implant design are anticipated to affect the market landscape in the forecast period.

Global Medical Implant Market Growth Drivers

Rising Cases of Chronic Diseases to Affect the Market Landscape Significantly

The market is driven by the rising cases of cardiovascular and orthopedic diseases such as abnormal heart rhythms, aorta disease, congenital heart disease, osteoarthritis, rheumatoid arthritis, and cubital tunnel syndrome, among others. Additionally, the growing dental problems, owing to the rising consumption of junk food and less awareness about oral care, are likely to generate a significant demand for dental implants in the forecast period. Furthermore, the improving healthcare infrastructure, coupled with the increasing number of healthcare professionals and favourable reimbursement policies, is anticipated to boost the market growth in the coming years.

Strategic Collaborations Poised to Meet Rising Medical Implant Market Demand

In June 2024, Germany-based 3D printing medical implant maker BellaSeno GmbH announced its plans to launch a fully automated production facility by 2025 in Australia with the aim to manufacture its resorbable soft tissue and bone reconstruction implants. The facility, employing AI-driven, no-touch manufacturing 3D printing, is anticipated to generate around 100,000 custom-made breast scaffolds annually. The establishment of this 3D printing facility is a collaborative effort, receiving financing from the Queensland Government’s Industry Partnership Program amounting to USD 274 million and a strategic partnership with Queensland’s largest hospital and health service provider, Metro North Health. This initiative reflects the trend of international collaborations and increased financial support for advanced medical technologies, which is expected to drive market growth in the forecast period.

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Global Medical Implant Market Trends

The market is witnessing several trends and developments to improve the current global scenario. Some of the notable trends are as follows:

Global Medical Implant Market Segmentation

Market Breakup by Product Type

• Orthopedic Implants 
  • Reconstructive Joint Replacements
    • Hip Replacement Implants
    • Extremities
    • Knee Replacement Implants
  • Trauma & Craniomaxillofacial
  • Ortho biologics

• Cardiovascular Implants
  • Pacing Devices
  • Stents
    • Renal Stents
    • Peripheral Stents
    • Coronary Stents
    • Others
  • Structural Cardiac Implants
    • Implantable Ventricular-assist Devices
    • Mechanical Heart Valves

• Spinal Implants
  • Spinal Bone Stimulators
  • Spinal Fusion Implants

• Neurostimulators
  • Spinal Cord Stimulation (SCS)
  • Sacral Nerve Stimulation (SNS)
  • Vagus Nerve Stimulation (VNS)
  • Deep Brain Stimulation (DBS)
  • Other Neurostimulators

• Ophthalmic Implants
  • Glaucoma Implants
  • Intraocular Lens

• Dental Implants
  • Root Form Dental Implants
  • Plate Form Dental Implants

• Facial Implants
• Breast Implants

Market Breakup by Biomaterial Type

• Metallic

• Ceramic

• Polymers

• Natural

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Medical Implant Market Share

The Spinal Implant Segment Based on Product Type Holds a Significant Market Share
 
Based on the product types, the market is broadly segmented into orthopedic implants, cardiovascular implants, spinal implants, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants.

The spinal implant segment includes spinal bone stimulators and spinal fusion implants and accounts for a significant share of the medical implant market. This can be attributed to the ability of the product to provide relief to patients with chronic pain conditions such as neck pain, complex regional pain syndrome, and leg pain, among others. The rising cases of back pain owing to longer driving and sitting hours of working professionals are likely to propel the demand for spinal implants in the forecast period.

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Global Medical Implant Market Analysis by Region

The market is segmented into several key regions covering North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America dominates the market share driven by factors such as rising cases of chronic diseases, owing to sedentary lifestyles led by working professionals and the rising geriatric population in the region. Additionally, the market growth is anticipated to be aided by the rising healthcare expenditure by the government in countries like the United States and Canada.

Leading Players in the Global Medical Implant Market

The key features of the market report comprise patent analysis, funding and investment analysis, and strategic initiatives such as recent partnerships by the leading players. The major companies in the market are as follows:

Boston Scientific Corp

This multinational manufacturer of medical devices has a strong global presence and is known for its innovative products. The company holds a robust portfolio including cardiovascular implants, neurostimulators, and urological implants.

Globus Medical, Inc.

United States-based Globus Medical, Inc. is a musculoskeletal solutions company that sells spinal implants, orthopedic trauma implants, and joint replacement systems. It is highly focused on expanding its product offerings and market presence via strategic partnerships and new product launches.

Institut Straumann AG

Institut Straumann AG, a Swiss-based company specializing in dental implants, significantly contributes to the medical implant market growth by investing heavily in R&D activities for advancing its implant technology.
Johnson & Johnson Services, Inc.

This American multinational company plays a prominent role in the market through its subsidiary, DePuy Synthes. The company offers a wide range of orthopedic implants, including joint replacement systems and spinal implants.

Other key players in the market include NuVasive, Inc., Medtronic plc, Integra LifeSciences Holdings Corporation, CONMED Corporation, and BIOTRONIK SE & Co. KG.

Key Highlights of the Report

Key Questions Answered in the Global Medical Implant Market Report

• What was the global medical implant market value in 2023?
• What is the global medical implant market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product type?
• What is the market breakup based on biomaterial type?
• What are the major factors aiding the global medical implant market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• How do the prevalence and incidence of chronic diseases affect the market landscape?
• What are the major global medical implant market trends?
• How does the rise in the geriatric population impact the market size?
• Which product type will dominate the market share? 
• Which biomaterial type is expected to have a high market value in the coming years?
• Who are the key players involved in the medical implant market?
• What is the patent landscape of the market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, and mergers & acquisitions among the key market players shaping the market dynamics?

Medical Implant Market Report Snapshots

Medical Implant Market Size

Medical Implant Market Growth

Medical Implant Market Trends

Medical Implant Market Share

Medical Implant Market Regional Analysis

Medical Implant Companies