The global market for implantable medical devices is expected to witness steady growth, in terms of both volume and revenue, in the next few years. The vast rise in incidence of musculoskeletal, dental, and a vast number of chronic degenerative health conditions are boosting the overall global demand for a variety of implantable medical devices globally. The rising geriatric population, increased affordability, and the trend of increasing expenditures aimed at maintaining health and longevity are also boosting the growth of the global implantable medical devices market globally.
Request For Sample Copy Of Report @ http://www.mrrse.com/sample/2111
Transparency Market Research estimates that the global implantable medical devices market will expand at a healthy CAGR of 4.9% over the period between 2016 and 2024. At this pace, the market is expected to rise to US$49.8 bn in 2024 from a valuation of US$32.3 bn in 2015.
Titanium Implants to Lose Ground to Titanium Alloys and Zirconium Implants
Inquiry on this report @ http://www.mrrse.com/enquiry/2111
Of the key materials used for manufacturing implantable medical devices, titanium is presently the largest contributor to the global market’s overall revenues, accounting for a share of 42% in 2015. However, the segment is projected to witness a slight decline in its share in the global market to the segment of titanium alloys over the said period. The segment of titanium implants is expected to exhibit a 4.7% CAGR while the segment of titanium alloy implants is expected to expand at a 5.5% CAGR over the period between 2016 and 2024.
Read Complete Report @ http://www.mrrse.com/global-implantable-medical-devices-market
The segment of zirconium implants is expected to emerge as the one with the most promising growth opportunities over the said period. The segment is expected to expand at the fastest CAGR of 6.4% from 2016 to 2024 as compared to other prominently used materials for manufacturing implantable medical devices. The advantage of one-piece zirconium implants that they don’t catch bacterial growth or do not suffer gradual degradation by electrochemical attacks, owing to the absence of any prosthetic connections, is expected to work in their favor and reduce the reliance on titanium implants, which mostly have these disadvantages. The same factor is also expected to work in the favor of titanium alloys and bring a decline in the overall use of titanium for the manufacture of medical implants.
90 State Street,
Albany NY – 12207