Non-Drug-Eluting Device Market is Forecasted to Reach US$ 10.4 Billion in 2030, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global Non-Drug-Eluting Device Market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2023: US$ 6.5 billion

Market Size in 2030: US$ 10.4 billion

Growth (CAGR): 6.7% during 2024-2030

Leading Application Type: Implants

Leading Degradability Type: Biodurable

Leading End-User Type: Hospitals

Leading Region: North America

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 4

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Non-Drug-Eluting Device Market:

The global Non-Drug-Eluting Device Market is segmented based on Application type, Degradability type, End-User type and region.

Based on Application Type

“Implants are expected to remain the dominant and fastest-growing application type in the market during the forecast period.”

• The global non-drug-eluting device market is segmented into implants and sutures.
• Implants are used in various medical-surgical procedures in the current market and are expected to grow rapidly with increasing cardiovascular, orthopedic, and neurological implants.
• Non-drug-eluting sutures are being increasingly used for surgical incisions in various types of surgeries. They are used to repair skin lacerations and traumatic wounds in the human body and hence are required where permanent sutures are not required.

Based on Degradability Type

“Biodurable is expected to remain the dominant and fastest-growing degradable type in the market during the forecast period.”

• The market is segmented into biodurable and bioresorbable.
• Biodurable implants are highly used in the market. These implants are designed to serve as mechanical support for a longer duration or indefinitely depending on the requirements.
• Bioresorbable sutures are mostly used in surgical devices requiring absorption by the body over a certain period.

Based on End-User Type

“Hospital is expected to be the dominant end-user type, whereas ambulatory surgical centers will be the fastest-growing end-user type during the forecast period.”

• The market is segmented into hospitals and ambulatory surgical centers.
• Hospitals remain a key end-user market with increasing implant procedures in the hospitals. Also, sutures continue to be highly used in hospitals.
• Ambulatory surgical centers' strong growth is due to rising demand for urgent sutures in the market.

To know the most attractive segments, click here for a free sample of the report:

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Which region shows the most promising growth forecast and opportunity?

The analysis suggests that North America is expected to remain the largest and fastest growing for non-drug-eluting devices during the forecast period. This growth outlook is mainly attributed to the following:

• North America's dominance in the market is driven by high implant surgeries in the region and the increased demand for biocompatible sutures in the region. The region has also got leading manufacturers of non-drug-eluting devices like Medtronic plc. and Johnson & Johnson. The region will show exceptional growth in the coming years with new medical implants getting approved by the FDA in the market.

Likewise, Asia-Pacific is also a strong growth region with new fuelled demand for implant procedures in the region mainly for orthopedic implants in countries like China and India.

Non-Drug-Eluting Device Market Drivers:

Some of the key drivers listed in the report are given below.

·      Multiple factors are currently driving the market for non-drug-eluting devices à the increasing demand for implants for orthopedic, cardiovascular, and dental procedures, technological advancements leading to customized implants, and the growing need for effective wound closure.

·      The market faces limitations primarily due to the extensive testing required for regulatory approval and the differing standards across regions.

Competitive Landscape: Top 10 Companies in the Non-Drug-Eluting Device Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

·      B. Braun Melsungen AG

·      Boston Scientific Corporation

·      ConMed Corporation

·      DemeTECH Corporation

·      Integra Lifesciences

·      Johnson & Johnson Services Inc.

·      Medtronic

·      Peter Surgical

·      Smith & Nephew plc.

·      Stryker Corporation

·      Teleflex Incorporated

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the data center liquid cooling market, answering critical questions like

-       How big is the sales opportunity?

-       Which regions offer the best sales opportunities?

-       Which are the most attractive market segments?

-       Which are the top players and their market positioning?

-       How complex is the business environment?

-       What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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About us –

Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to make convincing business decisions.

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