Global Medical Implants Market Size Is Set To Reach USD 131.2 Billion By 2024

By Goldstein Market Intelligence || 2018-03-05 4:53:29 AM

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Medical Implants: Changing The Face Of Surgery

Ability to replace damaged biological structures or enhances an existing biological structure, rising ageing population and increasing prevalence of chronic diseases are the major drivers of medical implants market. Aged people are more prone to chronic diseases such as cardiovascular diseases, orthopedic disorders, endovascular diseases and dental issues, making them the dominant users of medical implants (kidney and heart implants, artificial joints implants and eye implants). However, an association of some risks and complications with medical implant procedures, such as infections, surgical risks, and implant failure is quite a challenge to the target market.

Global Medical Implants Market 2024

According to Goldstein Research, medical implants market size is set to reach USD 131.2 billion by 2024, at a CAGR of 5.7% over the forecast years owing to emerging innovations in medical technologies, inclining elderly population, rising prevalence of chronic diseases, increase in healthcare expenditure and dignified health care infrastructure for the implant procedures.

On the basis of product type, the orthopedic implant is the leading segment in the medical implant market and adult knee surgery is the most popular subspecialty within orthopedics, with more than 34% of all orthopedic surgeons practising this area of orthopedic medicine.

Geographically, North America dominates the medical implant market and is anticipated to reach the valuation of USD 64.2 billion by 2024. Singapore, Brazil, India, Thailand and Malaysia are the top countries known for their medical tourism facilities and are therefore carry the huge market for medical implants.

Microelectronic Medical Implants: Interactive Medical Implant Device

Microelectronic medical implant refers to interactive medical implant device that comprises of radio frequency identification (RFID) tag clamber on to an implant and the tag is coated with liquefied impermeable seal, in order to enable the physician to identify the RFID signals attached to the implants with the involvement of instrument model or patient database and access the desired pertinent information regarding the medical implant device.

Global Medical Implants Market 2024

The report contains a detailed overview of the global Medical Implants market in terms of market segmentation by product and origin.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global Medical Implants Market report also provides competitive outlook for some of the major players which includes profiling of companies such as Medtronic plc., Zimmer Biomet, Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson, Institut Straumann AG, Dentsply Sirona, Edwards Lifesciences Corporation, Orthofix International, Smith & Nephew plc., and Tornier N.V. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global Medical Implants market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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