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The global smart implants market attained a value of USD 5.30 billion in 2023. The market is estimated to grow at a CAGR of 16.46% during the forecast period of 2024-2032 to reach a value of USD 20.80 billion by 2032. The growth can be attributed to the generation of nanogenerators and metamaterial for multipurpose use in the fabrics of medical implants.
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Smart implants are devices used for therapeutics or diagnostic purposes which provide real-time biofeedback, real-time health data collecting, real-time monitoring of chronic disorders and patient-tailored treatment with embedded sensors. Smart implants have the potential to reduce complications, recovery time, readmissions, and revision operations.
Smart implants are made to be durable under pressure, contact-electrification occurs between the material's conductive and dielectric microlayers, resulting in an electric charge that conveys information about the material matrix's condition. Furthermore, it naturally inherits the exceptional mechanical tunability of ordinary metamaterials.
While smart implant are widely used in the knee, the prospects for knee arthroplasty remain limitless. These devices will measure pressure, force, strain, displacement, proximity, and temperature, among other things. The smart implant is expected to become a standard element of clinical practice over time.
According to the global smart implant market research report, the market can be categorised into the following segments:
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Market Break Up by Product
Market Break Up by Material
Market Break Up by Distribution Channel
Market Break Up by Region
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North America is predicted to dominate the market due to factors such as easy availability of technologically advanced products, increasing consumer awareness, improved healthcare infrastructure, and regional expansion of pharmaceutical and biotechnology firms. In the United States, an increase in the use of smart implants for quick and effective outcomes is one of the important reasons contributing to the growth of the studied market in North America.
Emerging technologies such as cloud computing, artificial intelligence, machine learning, blockchain technology, and virtual reality have changed conventional implant strategies and entered for clinical practise. Furthermore, the increasing usage of smart sensor technologies to ease the procedure of post-operative measures is positively boosting the global smart implant market. Implant integrates advancements in nanogenerators and metamaterials into the fabric of medical implants, this technical innovation will play a significant role in the future for the growth of the smart implant market.
Before being communicated to any other external system, health data collected via smart implants must be stored within the device. However, due to its small size, the implant may not be able to retain a big amount of data at one time. As a result, small smart implants may be unable to store detected information for an extended amount of time. Other technical hurdles, such as communication range, power consumption, transfer data size, and robustness, can also have an impact on smart implant adoption.
The report gives an in-depth analysis of the key players involved in the global smart implants market, sponsors manufacturing the therapies, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
| 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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*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 market attained a value of USD 5.30 billion in 2023, driven by the rising technological advancements.
The market is estimated to grow at a CAGR of 16.46% during the forecast period of 2024-2032 to reach a value of USD 20.80 billion by 2032.
The technological advancement of smart implants and the generation of nanogenerators and metamaterial for multipurpose use in the fabrics of medical implants will propel the market.
Data storage is the limiting factor in market growth.
The market is expected to grow at a CAGR of 28.29% between 2024-2032.
The market was estimated to reach about a value of USD 46 million in 2023 and is expected to reach about USD 477 million by 2032.
The regions involved in this market are North America, Latin America, Asia Pacific, Europe, and Latin America.
North America accounts for the largest share of the market owing to the easy availability of technologically advanced products, increasing consumer awareness, improved healthcare infrastructure, and regional expansion of pharmaceutical and biotechnology firms.
Smart implants are sensor-embedded devices implanted in the body to provide real-time data for monitoring during and after the surgeries too.
Minimally invasive quadriceps-sparing total knee replacement is the recent technology known to be a smart implant.
The key companies involved in the global smart implants market are Johnson & Johnson Services, Inc., Medronic plc, Abbott Laboratories, Boston Scientific Corporation, Nevro Corp., Zimmer Biomet, Cochlear Ltd., Biotronik, Seneonics, Inc., Intelligent Implants, Freudenberg Group, AstraZeneca, and Integra LifeSciences, 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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