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Implantable Medical Devices Market - By Product (Cardiovascular, Orthopedic, Ophthalmology, Plastic Surgery, Neurology, Dental), By Type (Diagnostic, Treatment), By Nature of Device (Active, Static/Non-active/Passive), End-use & Forecast, 2023-2032

  • Report ID: GMI4483
  • Published Date: Mar 2023
  • Report Format: PDF

Implantable Medical Devices Market Size

Implantable Medical Devices Market size exceeded USD 112.5 billion in revenue in 2022 and is expected to grow at over 9% CAGR from 2023 to 2032 driven by advancements in disease management services for early diagnosis and disease detection.

Implantable Medical Devices Market

Industry demand is primarily fueled by favorable spending toward implantable medical devices in developed countries. Government, profit, and nonprofit organizations around the world are actively launching various initiatives to raise funds and increase public awareness of the risk associated with life-threatening chronic illnesses, thereby propelling product utilization.

Furthermore, rising incidences of chronic diseases are also offering robust prospects to the implantable medical devices industry. Mounting occurrences of chronic diseases in line with the expanding geriatric population has boosted the need for cost-effective disease treatment options, which is foreseen to favor the market value.

Implantable Medical Devices Market Trends

The possibility of a recall for implantable medical devices awaiting premarket approval and FDA administration authorization is limiting market expansion. For instance, in May 2021, FDA announced that pharma giant Abbott was recalling over 60,000 Assurity and Endurity implantable pacemakers owing to the risk of moisture that could cause electrical shorts, leading to severe complications. Nonetheless, growing emphasis on the creation of implanted sensors and microelectronics is set to aid manufacturers in overcoming these hurdles.

Implantable Medical Devices Market Analysis

Global Implantable Medical Devices Market Share By Product

As per product, the report cites that the implantable medical devices market from the orthopedic segment is anticipated to witness growth at over 6% CAGR from 2023 to 2032. This is attributed to the aging population, an increase in orthopedic illnesses, and advancements in implantable technologies for osteoarthritis. For instance, in November 2022, the U.S. FDA authorized 510(k) clearance to CurvaFix, a medical devices firm for its smaller diameter CurvaFix IM Implant for pelvic fractures. This approval escalated the company’s plans to offer both 7.5 mm and 9.5 mm diameters implants for pelvic disabilities.

In terms of end-use, the implantable medical devices market from the ambulatory surgical centers segment was worth over USD 19 billion in 2022. The surging number of patients visiting ambulatory surgical centers for various interventional surgeries is driving segment expansion. As per an Ambulatory Surgery Center Association report, the United States witnessed about 5800 ASCs performing about 30 million procedures in the year 2020. Furthermore, the easy availability of cutting-edge amenities in ASCs as well as one-day procedures is encouraging more patient visits, which is speculated to be profitable for the segment.

Based on type, the treatment segment captured the lion’s share of more than 99% of the implantable medical devices market in 2022. The effective product flexibility, an expanded application range, and technical improvements in these devices have elevated the demand for IMDs for the detection, management, and treatment of chronic diseases. A 2022 clinical study conducted in the U.S. found that implantable shock absorbers used in MISHA Knee System can relieve knee pain and improve function. The implantable shocker can also delay the chances of knee rupture and replacement. Hence, several advantages and clinical benefits provided by these implants are anticipated to improve postoperative outcomes, thereby increasing product adoption.

By nature of device, the implantable medical devices market share from the static/non-active/passive segment is projected to depict more than 8% CAGR over 2023-2032. Orthopedic implants, dental implants, and other implantable medical devices with passive or non-active nature can function without an external power supply. This makes them extremely effective and cost-efficient, which is benefiting the segment outlook. In a 2022 study, wireless & powerless transfer showcased a stable and controllable potential for cardiovascular implantable medical devices, which addresses the interface due to misalignment and expands transmission distance.

Global Implantable Medical Devices Market Size By Region

Europe implantable medical devices market is foreseen to reach over USD 63.5 billion by 2032. The region may emerge as a major revenue hub due to rising incidences of cardiovascular disorders and an increase in the surgeries being performed, which is propelling the demand for pacemakers and implantable cardioverter defibrillators, thereby facilitating regional business development. According to the Office of National Statistics, the United Kingdom reported that nearly 3.5 million people were suffering from cardiovascular conditions in 2021. Moreover, 3.7 million people suffered from respiratory diseases among a total of 6.8 million individuals reported in hospitals and ASCs.

Implantable Medical Devices Market Share

Some key players in the implantable medical devices market are

  • AbbVie Inc. (Allergan plc)
  • Zimmer Biomet
  • MicroPort Scientific Corporation
  • Henry Schein, Inc.
  • Smith & Nephew plc
  • Stryker Corporation
  • Medtronic
  • Abbott Laboratories, Inc.
  • Boston Scientific Corporation
  • Alcon Laboratories
  • Mindray Medical International Limited
  • Bausch & Lomb
  • POLYTECH Health & Aesthetics
  • Demant A/S
  • MED-EL GmbH
  • Advanced Bionics Corporation (Sonova Holdings AG)
  • W. L. Gore & Associates, Inc.
  • Cochlear Limited
  • Johnson & Johnson

These companies majorly engage in product innovation and customer base expansion tactics to stay ahead in the competitive landscape. For instance, in May 2022, Johnson & Johnson, a pharmaceutical firm, announced that its medical devices subsidiary, DePuy Synthes, received the U.S. FDA 510(k) clearance for INHANCE Shoulder Implant System. This allowed the company to efficiently enhance its market presence and obtain a competitive advantage.

Impact of COVID-19 Pandemic

The COVID-19 outbreak hampered the uptake of implantable medical devices due to the widespread focus on coronavirus treatment over elective surgeries. A 2021 study about the impact of the COVID-19 pandemic reported a 17.6% decline in cardiac implantable electronic device implantation during the first quarter of 2020 in China. However, the decline in COVID-19 cases and better biomaterial usage in implantable devices are providing lucrative opportunities to the market.

The implantable medical devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Product

  • Cardiovascular
    • Pacemaker
    • Implantable Cardiac Defibrillators [ICDs]
    • Cardiac Resynchronization Therapy [CRT]
    • Stents
    • Ventricular assist devices
    • Implantable Cardiac Monitors [ICM]
    • Others
  • Orthopedic
    • Joint reconstruction
    • Spinal devices
    • Trauma fixation devices
    • Others
  • Ophthalmology
    • Intraocular lenses & glaucoma implants
    • Others
  • Plastic surgery
    • Breast implants
    • Gluteal implants
  • Neurology
    • Deep brain stimulators
    • Others
  • Dental
    • Dental implants
    • Dental crowns & abutment
    • Others
  • Others

By Type

  • Diagnostic
  • Treatment

By Nature of Device

  • Active
  • Static/Non-active/Passive

By End-use

  • Hospitals
  • Multi-specialty Centers
  • Ambulatory Surgical Centers
  • Clinics
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Austria
    • Switzerland
    • Slovakia
    • Czech Republic
    • Norway
    • Finland
    • Sweden
    • Denmark
    • Benelux
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Taiwan
    • Indonesia
    • Vietnam
    • Cambodia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Others


Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for implantable medical devices was valued at more than USD 112.5 billion in 2022 and is set to progress at over 9% CAGR between 2023 and 2032 owing to advancements of disease management services for early diagnosis and disease detection.

The ambulatory surgical centers application segment accounted for over USD 19 billion in 2022 due to the mounting number of patients visiting ambulatory surgical centers for different interventional surgeries.

Static/non-active/passive segment is projected to depict more than 8% CAGR over 2023-2032 as a result of the low requirement for external power supply compared to its counterpart.

Europe implantable medical devices market valuation is foreseen to reach over USD 63.5 billion by 2032 on account of an upsurge in cardiovascular disorder instances and the increasing number of surgeries being performed resulting in extensive demand for pacemakers and implantable cardioverter defibrillators in the region.

Implantable Medical Devices Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 859
  • Countries covered: 33
  • Pages: 492
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