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Published Thu, Feb 15th 2018

Worldwide Medical Implants Market is Projected to grow at a CAGR of 7.07% by 2023

Market research future published a cooked research report on Global Medical Implants Market. The global medical implants market is expected to grow at a CAGR of 7.07% during the forecast period 2017-2023.

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The success rate of surgery is one of the major factors driving the global medical implant market. As it gains the confidence of patient suffering from orthopedic, cardiac, and others diseases that implantation procedure help in improving quality of life.

According to a report published by American Joint Replacement Registry, in 2017, there is 50% reduction in revision rates of hip and knee implant owing to registry initiation and identification of best practices. According to Romanian Arthroplasty Register, in 2014, Romania reported to be performed 10,179 primary surgeries of THA, and 2,619 primary surgeries of TKA, and in 2015, 9,297 THA and 2,770 TKA primary interventions were conducted. According to the watchman post-FDA approval study, successful implantation rate is 95.6%, which is the highest success rate reported in the United States in 2016.

Get a sample report at https://www.marketresearchfuture.com/sample_request/2806 .

Major Players in the Medical Implants Market

Some of the key players in this market are Boston Scientific Corporation (U.S.), Medtronic (Ireland), Johnson & Johnson Services, Inc. (U.S.), 3M (U.S.), Institut Straumann AG (Switzerland), Stryker Corporation (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Smith & Nephew (U.K), Dentsply Sirona (U.S.).

The global medical implants market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.

America dominates the global medical implants market owing to the increasing prevalence of chronic diseases. Additionally, high health care spending, well-developed technology, and increasing geriatric population are likely to fuel the growth of the market. On the other hand, saturation of the market, the high cost of the devices, and changing reimbursement policies may slow the market growth over the review period.

The Americas market for medical implants is divided into North America and South America. North America holds the major share of the market whereas, South America shows the fastest growth across the globe owing to the presence of an opportunity for the development of the market.

The European medical implants market comprises of Eastern Europe and Western Europe. Western Europe comprises of countries such as Germany, the U.K, France, Italy, and Spain. Europe accounts for the second largest global medical implants market owing to increasing support from the government, the presence of huge geriatric population, and high health care spending. Additionally, many European countries are trying to encourage the manufacturers for research & development for the introduction of advanced devices. In addition to this, increasing awareness and developed healthcare infrastructure has provided a push to the growth of the market. However, strict regulatory rules may hinder the progress.

On the other hand, The Middle East & Africa holds the least share, but it is likely to grow rapidly during the forecast period. However, due to the presence of poor and slow developing countries, especially, in the African region, the market may hold least market share.

Browse Complete Report at https://www.marketresearchfuture.com/reports/medical-implant-market-2806 .

The global medical implants market is segmented on the basis of types, type of material, and end user. On the basis the types, it is segmented into orthopedic implants, cardiac implants, spinal implants, dental implants, ophthalmic implants, cosmetic implants, and others. On the basis of the type of material, it is segmented into the metallic material, ceramic material, polymers material, and others. On the basis of the end users, it is segmented into hospitals & clinics, research laboratories, and others.

Moreover, companies are more into mergers, acquisition, and collaboration activity in order to provide better treatment procedure. In this regards, Johnson & Johnson Services, Inc. in September 2016, acquired Abbott Medical Optics for developing the product line of intraocular lenses implanted into cataract patients following surgery, and a variety of eye drops and cleaning solutions that will complement J&J’s extensive line-up of contact lenses. Also, in May 2016, Knifeless Tech Systems was acquired by 3M. The business acquired is an installation tool used to cut self-adhesive films applied to vehicle wraps 3M.

Furthermore, increasing consumer awareness about various repairs and preventive cares associated with body and rapidly increasing population worldwide have consistently added to the growth of the medical implants market globally. Furthermore, increasing spending in the healthcare domain fuelling the growth of the medical implants market. According to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending increased by 5.8% reaching USD 3.2 trillion. In 2016, the healthcare spending in North America had increased to some extent.

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Key Findings

  • The global medical implants market is estimated at USD 112,083 million in 2016.
  • Cardiac implant is the fastest growing segment, which is projected grow at a CAGR of 7.63% during the forecast period 2017-2023.
  • The Americas captured the largest market globally and is expected to USD 77,770 million by 2023.
  • Asia Pacific is the fastest growing region across the globe and is expected to grow at a CAGR 7.55% during the forecast period.

The European medical implants market comprises of Eastern Europe and Western Europe. Western Europe comprises of countries such as Germany, the U.K, France, Italy, and Spain. Europe accounts for the second largest global medical implants market owing to increasing support from the government, the presence of huge geriatric population, and high health care spending. Additionally, many European countries are trying to encourage the manufacturers for research & development for the introduction of advanced devices. In addition to this, increasing awareness and developed healthcare infrastructure has provided a push to the growth of the market. However, strict regulatory rules may hinder the progress.

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