Medical Implants Market Synopsis:
The Medical
Implant Market Size was valued at USD 45.9 Billion in 2022. The Medical
Implant market industry is projected to grow from USD 49.66 Billion in 2023 to
USD 93.29 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of
8.20% during the forecast period (2023 - 2032). The widening range of
application of medical implants in the healthcare sector is anticipated to fuel
demand in the market over the next couple of years.
The key drivers of the medical implants market research report accelerating
the revenue creation for market participants include the adoption of implants
by patients, rising prevalence of chronic diseases, increasing aging
population, etc. The rising investments in the development of medical implants
are expected to favour the growth of the medical implants market in the
forthcoming years.
The increasing awareness about repairs and preventive care of the human
body has catalysed the growth of the medical implants market. The trend is
anticipated to perpetuate in the foreseeable future. Additionally, the global
increase in healthcare expenditure is likely to have a positive impact on the
medical implants market proliferation. However, ambiguous regulatory frameworks
coupled with high costs associated with surgeries are projected to hold the
market growth through the projection period.
Competitive Dashboard:
The global medical implants market players are Johnson & Johnson
Services, Inc. (U.S.), 3M (U.S.), Institut Straumann AG (Switzerland), Stryker
Corporation (U.S.), Boston Scientific Corporation (U.S.), Medtronic (Ireland),
Zimmer Biomet Holdings, Inc. (U.S.), Smith & Nephew (U.K), Dentsply Sirona
(U.S.).
Market Segmentation:
By type, the global medical implants market is segmented into orthopedic implants, cardiac implants, spinal
implants, dental implants, ophthalmic implants, cosmetic implants, and others.
The cardiac implants segment is prognosticated to register a relatively higher
CAGR of 7.63% over the forecast period.
By type of material, the medical implants market has been segmented into
metallic material, ceramic material, polymers material, and others.
By end-users, the global medical implants market is segmented into
hospitals & clinics, research laboratories, and others.
Regional Insights:
By region, the global medical implants market has been segmented into
Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is
the largest market for medical implants and is expected to flourish in the
forthcoming years. The factors responsible for favouring the growth of the
market in the region are increasing patient pool, accelerated investments in
research, developed healthcare, advanced technologies, etc.
Europe holds the second spot in the global medical implants market due
to exponential geriatric population, rising healthcare expenditure, increasing
government support, etc. Asia Pacific is projected to be the fastest growing
regional market over the assessment period. The presence of countries such as
China and India are likely to favour the growth of the medical implants market
in the region. Meanwhile, the Middle East & Africa region is poised to hold
a comparatively lesser medical
implants market share of the global market owing to limited development in
the healthcare sector. However, economically strong countries such as Qatar and
Kuwait are poised to aid market expansion in the foreseeable future.
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