Industry Background:
Medical Implants market is expected to grow in the future due to the rising technology advancement in the healthcare industry and an increasing number of diseases. In the implant process, devices or tissues that placed inside or outside the body to cure certain medical conditions. Theses can be placed permanently or temporarily in the body. Some of the implants are made from skin, bone, or other body tissues. Others are made from metal, plastic, or ceramic materials. Medical implants are used in areas such as cardiovascular, orthopedic, neurological disorders, dental, and others.
According to AMA Research, the market for Medical Implants is expected to register a CAGR of 6.8% during the forecast period to 2030. This growth is primarily driven by Rise in Geriatric Population with Multiple Chronic and Other Diseases
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Johnson & Johnson Services (United States), Edwards Lifesciences (United States), Orthofix Holdings (United States), Novartis (Switzerland), Boston Scientific (United States), SmithNephewplc (United States), Stryker (United States) and Wright Medical Group (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In August 2021, Zimmer Biomet partnered with Canary Medical to develop the world's first smart knee implant, which received FDA approval.
In 2022, Florida-based SurGenTec, a private spine and orthopedic technology firm obtained clearance from the U.S. FDA for its proprietary ION Screw. This stand-alone spine fixation implant offers a notable advancement in surgical solutions, showcasing the company’s commitment to innovation in the field of spine and orthopedic technologies.The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Influencing Trend:
Technological Advancements in the Field of Medical Implants
Market Growth Drivers:
Rise in Geriatric Population with Multiple Chronic and Other Diseases, Increasing Disposable Income among Population Worldwide and Growth In Health Care Industry
Challenges:
High-cost for Medical Implantation
Restraints:
Some Risks and Complications such as Infections, Surgical Risks, and Implant Failure.
Opportunities:
High Demand for Medical Implants in Both Developing and Underdeveloped Countries, Advancements in Medical Technologies, A Rise in Health Care Expenditure Worldwide and Growing Awareness related to Medical Implants in Emerging Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Implants Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Implants Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Implants players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Implants Study Sheds Light on
The Medical Implants Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Implants industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Implants industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.