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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Smart Implants Market Size
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.
Smart Implants Insights
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.
Smart Implants Market Report Snapshots
*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 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 06 17 27
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 287899028, +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
+84865399124