Allied Market Research recently published a report, titled, “Implantable Medical Devices Market by Product (Orthopaedic Implants, Cardiovascular Implants , Intraocular Lens , Dental Implants, Breast Implants, Other Implants), : Global Opportunity Analysis and Industry Forecast, 2020-2030.” As per the report, the global implantable medical devices industry was accounted for $91.8 billion in 2020, and is expected to reach $179.03 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030.
What are the key trends in the Implantable Medical Devices market report?
The surge in cardiovascular & neurological illnesses, improvements in active implanted medical devices, increased awareness, technological advancements in medical implant and rise in the investments & funds to develop technologically advanced products are the key trends in the Implantable Medical Devices market report.
What are the market values / growth % of emerging countries?
Asia-Pacific has the highest growth rate of 8.6% in the market which is growing due to presence of large patient population, strong presence of key players, ease of devices availability, well developed healthcare infrastructure, favourable reimbursement policies in healthcare system, higher number of research and development.
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
Covid-19 Situation –
- A steep decline in demand for implant surgeries impacted the implantable medical devices market negatively, especially during the initial phase of the pandemic.
- However, the market has already started recovering and is anticipated to get back on track soon.
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North America held the major share –
By region, the North American market gained the largest share in 2020, contributing more than two-fifths of the global medical device market, due to the increasing demand for medical devices used for the treatment of many diseases and disabilities. and availability. high quality medical facilities with qualified medical professionals. However, Asia-Pacific is expected to report the fastest CAGR of 8.6% during the forecast period, due to the increase in various diseases and the increase in R&D in developing countries such as Japan and China.
The orthopedic implants segment held the lion’s share –
Based on product, the orthopaedic implant segment has a major share in 2020, accounting for more than a quarter of the global medical device market. The dental implant segment, on the other hand, is expected to report the fastest CAGR of 8.1% during the forecast period, due to cardiovascular and neurological diseases and the increase in medical devices used.
Major Key Market Players in the Industry –
- Biotronik SE and Co. KG
- Boston Scientific Corporation
- R. Bard, Inc.
- Cardinal Health, Inc.
- CONMED Corporation
- Abbott Laboratories
- Integra LifeSciences Holdings Corporation
- LivaNova PLC
- Johnson and Johnson
- Globus Medical Inc.
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Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of Implantable Medical Devices market report?
Q2. Which are the top companies hold the market share in Implantable Medical Devices market?
Q3. Which is the most influencing segment growing in the Implantable Medical Devices market report?
Q4. What would be forecast period in the market report?
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North America accounted for the largest share of the global medical device market in 2020 and is expected to remain the same during the forecast period. This is due to the increase in chronic diseases, the increase in the number of implantable medical devices, the availability of high-quality medical facilities and qualified medical professionals, the increase in the number of R&D activities combined with the large number of major players and increased investment by the government and health systems.
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