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Medical Implant Market Research Report - Forecast till 2027

Medical Implant Market: Information By Type (Orthopedic Implants, Cardiac Implants, Spinal Implants, Dental Implants, Ophthalmic Implants, Cosmetic Implants), Type of Material (Metallic Material, Ceramic Material, Polymers Material), End User (Hospitals & Clinics, Research Laboratories) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027

ID: MRFR/MED/2089-CR | February 2021 | Region: Global | 166 Pages         

Medical Implant Market

The global medical implants market value is registered as USD 85,389 million and is expected to reach a significant CAGR of 7.60% with the medical implants market size of USD 279,418.06 million during the forecast period (2021-2027).

Segmentation

By Type Orthopedic Implants Cardiac Implants Spinal Implants Dental Implants Ophthalmic Implants Cosmetic Implants
By Type of Material Metallic Material Ceramic Material Polymers Material
By End User Hospitals & Clinics Research Laboratories

Key Players

  • Boston Scientific Corporation (US)
  • Johnson & Johnson (US)
  • Stryker Corporation (US)
  • 3M (US)
  • Zimmer Biomet (US).

Drivers

  • Improvement in surgical outcomes
  • The increasing prevalence of chronic disease
  • Increasing geriatric population
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Medical Implants Market Overview


In 2019, the global medical implants market value is registered as USD 85,389 million and is expected to reach a significant CAGR of 7.60% with the medical implants market size of USD 279,418.06 million during the forecast period (2021-2027).


Medical implants are artificial devices that are placed inside or on the surface of the patient’s body. These devices are used to replace damaged biological structures and to enhance an existing biological structure. These medical implants devices are making benefits in various areas such as orthopedic, cardiovascular, neurological, and dental ailments. There are different types of implants. Some of them are made from bone, skin, or other body tissues and a few of them are from metal, plastic, or ceramic materials. These medical implants can be permanent or temporary and can use it as per the needs. 


The medical implants market manufacturers focus on producing the best quality products and treatments which reduces the re-investment cost for the patients. According to the report of FPA Sexual Health Charity in 2017, long-acting reversible contraceptive implants are giving better results. These reversible contraceptive implants are 20 times more effective than oral contraceptive pills and are easy to use, safe, and long-lasting.


COVID-19 Analysis:


Due to the outbreak of the COVID-19, most of the markets are witnessing a decline in the growth rate. The coronavirus spread all over the world and affected human life physically, mentally, and financially. To curb the spread of the virus, the emerging country’s governments imposed lockdowns, transportation bans, manufacturing industries off, and many more. Due to the lockdown, the manufacturing industries face a lot of issues like lack of raw materials, shortage of labor, and supply chain disruptions which result in stoppage of production.


The medical implants market is also severely impacted by the COVID-19. The medical implants industry is also faced issues for production like lack of raw materials and labor. Vascular procedures are reduced to life or limb salvaging cases in the areas that are affected severely by COVID-19 due to new government directives or hospital guidelines. These may impact the medical implants market during the assessment period. In this way, the coronavirus pandemic is drastically affected the medical implant market.


Market Dynamics:


Drivers:


Worldwide, the aging population is increasing day by day and the rise in the prevalence of chronic diseases are the key factors driving the growth of the medical implants market. Because aged people are highly susceptible to chronic diseases like cardiovascular diseases, endovascular diseases, orthopedic disorders, and dental disorders which are the major applications of the medical implant market.


With the increasing population, the increase in demand for tooth loss is predicted to grow. By the American Academy of Implant Dentistry (AAID) report, nearly 3 million people in America are having dental implants and is expected to grow 500,000 year by year. The rise in awareness of the benefits of medical implants among patients and doctors may propel the growth of the global market.  The government’s support for offering medical insurance coverage to downtrodden people for increasing their better health is accelerating the demand for the medical implants market.


Restraint:


The treatment associated with medical implants are very expensive and stringent approval process are restricting the medical implants market growth.


Opportunities:


The technology innovations in medical implants, availability of better medical facilities, hike in disposable income, rise in the number of cases with damaged organs or limbs that are caused by different accidents are the key factors that create the opportunity to escalate the growth of the medical implants global market.


Challenges:


Few risks and complications associated with medical implantation are infections, surgical failure, and implant failure are the challenges of the market.


Global Medical Implant Market, By Type, 2019 (%)
Medical Implant Market


Source: MRFR Analysis


Study Objectives -



  • To provide detailed information about the medical implants market structure along with various forecast segments and sub-segments for the next 10 years.

  • To provide the factors that are affecting the growth of the market value.

  • To analyze the industry analysis based on porter’s five force analysis, factors-price analysis, supply chain analysis, etc.

  • To provide history and forecast revenue segments and sub-segments of the medical implants market revenue for the main geographies.

  • To provide the country-level analysis of the current market size and future market size perspective.

  • To provide country-level analysis of the medical implants market industry growth by region, form, method, and application.

  • To provide a strategic profile of the prominent key players in the market, analyze their core competencies, statistics, and draw a global market growth landscape.

  • To track and analyze new product developments, strategic alliances, and global medical implants market research.


Segment Overview:


The global medical implants market has been divided into segments based on type, type of material, end-user, and region.


Based on Type


The global medical implants market based on the type are classified into few types such as orthopedic implants, cardiac implants, dental implants, spinal implants, ophthalmic implants, cosmetic implants, and others. Out of these types, orthopedic implants dominate the largest medical implants global market share of 30.9% in 2017.


Based on Type of Material


The global medical implants material market is bifurcated into ceramic material, metallic material, polymers material, and others. The metallic materials segment is accounting for the largest market share of 49.6% for its widely used materials like stainless steel, cobalt chrome steels, and titanium alloys. World-wide the growing number of implant surgeries is boosting the medical implant market growth.


Based on End-user


By end-user, the global medical implants market is categorized into few types as research laboratories, hospitals & clinics, and others. Among them, the hospitals & clinics segment is holding the largest market share of 71.5% due to the growing number of surgeries in the hospitals & clinics leads to a rise in the demand for medical implants and hence accelerates the medical implants market growth.


Based on Region


Regionally, the global medical implants companies market is divided into four main geographies like Asia-Pacific, Europe, America, and the Middle East & Africa. Out of these, America is holding the largest market share in 2019 and is continuing its command in the forecast period. Due to the high prevalence of chronic diseases, technological advancements, and product launches in this region, America is dominating the market.


Western Europe Medical Implant Market Share, By Country, 2019 (%)


Medical Implant Market


Source: MRFR Analysis


Regional Analysis -


Geographically, the microelectronic medical implants market based on region is segmented into four major regions like Asia-Pacific, Europe, America, and the Middle East & Africa. Among them, America is dominating the significant share due to its high prevalence of chronic diseases, advanced technologies, and product launches in this region. The rise in demand for medical implants and the availability of skilled professionals are propelling the market growth in this region. The U.S government publication states that worldwide, the U.S has the largest medical device market.


Due to the growing number of patients in the hospitals and the availability of products, the demand for medical implants is increased in Europe. Additionally, a rising number of patients undergoing knee and hip replacement surgeries is predicted to escalate the growth of the medical implants knee market. Asia-Pacific is expected to witness significant growth in the medical implants market owing to the population of age 65 and above and it is expected to grow more in the next 50 years. In 2000, the age group population is 207million and will increase by 314% to 857 million by 2050. Moreover, most adults are suffering from various orthopedic and cardiac disorders, and the growing per capita disposable income of middle-class families spends more on health in this region. This leads to an increase in the growth of the medical implant market.


Competitive Landscape


The prominent key players in the medical implants global market outlook are the following:



  • Boston Scientific Corporation (US)

  • Johnson & Johnson (US)

  • Stryker Corporation (US)

  • 3M (US)

  • Zimmer Biomet (US) 

  • Recent Developments


In May 2020, one of the highly populated enterpriser Smith & Nephew launched JOURNEY II Unicompartmental Knee (UK) system that paired with an increased range in implant sizes and lateral specific base plate. This system can easily perform well-balanced medial and lateral unicompartmental arthroplasties.


Report Overview:


This global medical implant market research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market scenario includes the medical implants market drivers, restraints, challenges, and opportunities. The medical implants      market forecast segments are type, type of material, end-user, and region.


Segmentation Table


The medical implants market trends have been segmented globally based on the type, type of material, end-user, and region.


By Type


Orthopedic implants, cardiac implants, dental implants, spinal implants, ophthalmic implants, cosmetic implants, and others.


By Type of Material


Ceramic material, metallic material, polymers material, and others are few types of materials of medical implants.


By End-user


Research laboratories, hospitals & clinics, and others.


By Region


Asia-Pacific, Europe, North America, and the rest of the world are the four main geographies included in the medical implants market.



Report Scope:

Report Attribute/Metric Details
  Market Size   2027: USD 279,418.06 Million
  CAGR   7.60% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Type of Material, End User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Boston Scientific Corporation (US), Johnson & Johnson (US), Stryker Corporation (US), 3M (US), and Zimmer Biomet (US).
  Key Market Opportunities   New product launches and R&D Amongst major key Players
  Key Market Drivers

  • Improvement in surgical outcomes
  • The increasing prevalence of chronic disease
  • Increasing geriatric population


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    Frequently Asked Questions (FAQ) :

    Medical implants are devices that are placed inside or on the surface of the patient body. Many implants are prosthetics envisioned to replace missing body parts.

    The medical implants market is dominated by orthopedic implants, which accounted for more than 30% of the market in 2017.

    The medical implants market is expected to exhibit a strong 7.5% CAGR over the forecast period from 2018 to 2023.

    The growing geriatric population is likely to be a major driver for the medical implants market.

    Americas dominated the medical implants market in 2017, with a share of more than 49% in the market.

    Leading players in the market include Medtronic, Boston Scientific, and Johnson & Johnson, among others.