Implantable Medical Devices Market size worth over $138.5 Bn by 2025

Implantable Medical Devices Market size is set to exceed USD 138.5 billion by 2025; according to a new research report by Global Market Insights, Inc.
 

Technological advancements in devices such as wearable, wireless and portable devices will greatly impact global implantable medical devices market growth. Innovation in microelectronics with the help of biosensors facilitate miniaturization and precise detection and treatment of life-threatening diseases. Additionally, implantable sensors provide highly specific data associated with crucial indicators of patients’ health that help in identifying severe issues, thereby optimizing patient care. With incorporation of significant advancements along with telemetry and chip technology in implantable medical devices, the market revenue is poised to boost at rapid pace in the future.

 

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Expanding number of baby boomers will increase medical implantations exponentially

Rising prevalence of chronic ailments coupled with expanding geriatric patient pool will impel implantable medical devices market growth over the forthcoming years. With growing burden of chronic diseases, the adoption of implantable electronic devices is increasing as they offer better quality of life, targeted treatment and long-term solution for management of diseases. Thus, increasing incidence of diseases such as bone disorders, cardiac arrhythmia, retinal diseases, neurovascular diseases and several others, the multi-faceted applicability of implantable devices will flourish the market size. However, complications linked with implants and data security issues due to active medical devices may limit the implantable medical devices industry growth.
 

Browse key industry insights spread across 250 pages with 531 market data tables & 14 figures & charts from the report, Implantable Medical Devices Market Size By Product (Cardiovascular {Implantable Cardiac Defibrillators [ICDs], Stents, Pacemaker, Implantable Cardiac Monitors [ICM], Ventricular Assist Devices, Cardiac Resynchronization Therapy Devices [CRT]}, Orthopedic {Joint Reconstruction, Spinal Devices, Trauma Fixation Devices}, Ophthalmology {Intraocular Lenses and Glaucoma Implants}, Plastic Surgery {Breast Implants, Gluteal Implants}, Neurology {Deep Brain Stimulators}, Dental {Dental Implants, Dental Crowns and Abutment}), By Type (Diagnostic, Treatment), By Nature of Device (Active, Static/Non-active/Passive), By End-use (Hospitals, Multi-specialty Centres, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/implantable-medical-devices-market
 

Progressive changes in intraocular lenses to manage cataract will offer immense growth opportunities to implanted lens market

Ophthalmology segment comprising intraocular lens and others accounted for more than USD 3 billion implantable medical devices market revenue in 2018. With growing incidence of cataract, the use of artificial eye implantations is also increasing; however, resulting in some refractive error post-surgery. Hence, the U.S. FDA approved the RxSight, a light-adjustable lens aimed at making minute adjustments to the lens’ power after the surgical procedure, wherein the patient does not require to wear glasses to correct any errors. Such advancements coupled with increasing incidence of retinal disorders will stimulate market expansion over the coming years.
 

Innovations in continuous monitoring devices for tracking disease progression will create robust market growth potential

Implantable medical devices market for monitoring/diagnostic purposes is estimated to surge at considerable pace over the forecast years. The need to constantly monitor patients in order to prevent sudden cardiac arrest or death is growing. Thus, with increasing patient pool suffering from cardiac arrhythmia and rising development of wireless and implantable cardiac rhythm monitoring devices, the demand for diagnostic devices including implantable loop recorders will soar in the foreseeable future.
 

Increasing number of accidents and falls will escalate the demand for osseointegration implants

Passive implantable medical devices segment held over 74% of revenue share in 2018. These implants are not battery-powered and are usually used to fully or completely restore or repair body’s missing physiology. Implantable devices such as dental implants, artificial hips, artificial knees and others support patients by replacing vital organs and reinstating daily activities. For instance, dental implants help patients overcome edentulism and restores their original look. Furthermore, use of superior materials for creating biocompatible osteointegration implants will accelerate the market development.
 

Increasing adoption of cosmetic procedures in clinics will impact the market size

Implantation of medical devices in clinics is surging owing to greater convenience, accessibility and lower cost of procedure. Additionally, escalating focus on body aesthetics is resulting into grow number of breast and buttock implantations, thereby driving the industry growth.
 

Developing healthcare infrastructure in emerging nations will accelerate Asia Pacific market growth

Asia Pacific implantable medical devices market share is forecast to progress at 8.3% CAGR during the analysis period. Increasing geriatric population pool and rising disposable income will be major factors impacting the industry revenue. In addition, booming medical device sector in emerging economies such as India and China will create attractive market expansion prospects in the region. Also, accelerating development of infrastructure, set-up of facilities such as catheterization laboratories, clinics, implantation centres and other settings coupled with rising funding for medical devices and medical tourism will impel Asia Pacific implantable medical devices industry growth over the projection period.
 

Partnerships between established market players is one of the chief strategies adopted for development of implantable medical devices

Boston Scientific, Medtronic, Smith & Nephew, Zimmer Biomet, Stryker Corporation, Henry Schein, Johnson & Johnson, Abbott, Biotronik are some of the leading market players involved in implantable medical devices market share among several other companies. Firms are undertaking innovation strategies for development of biocompatible implants along with collaborations to increase their foothold in the market. For instance, in June 2018, Johnson & Johnson collaborated with Mercy for research on performance outcomes of implantable medical devices, that will thereby improve the quality of care for its patients in the forthcoming period.
 

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