Implantable Medical Devices Market Driven by High Incidence of Chronic Diseases in the U.S. -Transparency Market Research

The U.S. demand for implantable medical devices is forecasted to increase by 8% CAGR in the next few years. The implantable medical devices market in the U.S., which stood at US$43.1 billion in 2011, is expected to be worth US$73.9 billion by the end of 2018. Driven by demographic factors such as shifting lifestyle choices, high incidence of degenerative and chronic diseases, and increasing geriatric population, the demand for implantable medical devices in the U.S. is anticipated to remain high over the forthcoming years.

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Orthopedic Implant to Remain the Largest Market Segment

The overall implantable devices market in the U.S. is majorly dominated by spinal implants, reconstructive joint replacements, dental implants, cardiovascular implants, breast implants, and intraocular implants. Some of these segments are expected to showcase remarkable market potential, while others will register steady growth rate in the next three to four years. Reports and latest surveys conducted to study what influences the market trends at large reveals, the reconstructive joint replacement segment will enjoy bolstering growth influenced by the rise in ageing population, increasing incidence of orthopedic diseases, and joints trauma. On the basis of prevalent market trends, the orthopedic implant will retain its position as the largest market segment, not only in terms of growth rate, but on account of the overall market value as well.

Orthopedic Implant to Remain the Largest Market Segment

Aesthetic Procedures and Hypertension to Boost the Implantable Medical Devices Market in the U.S.

The rise in demand for implantable medical devices in the U.S. market is attributed to a multitude of factors. Higher inclination among consumers for aesthetic procedures is expected to positively impact the market for cosmetic implantation. Furthermore, increased preference among young female population for breast augmentation procedures will demonstrate high demand for cosmetic implantations.

Hypertension is a common syndrome among the U.S. population. Unbridled prevalence hypertension often leads to complications such as cardiac arrests and strokes. Deteriorating heart health might demand surgical assistance, in which implants such as defibrillators and stents are most commonly demanded.

Other segment that will enjoy undisputed growth in the U.S. is the dental implants market. Rising popularity of dental procedures such as smile reconstruction, permanent denture implantation, tooth replacement, and mending cavities will keep the demand for this segment high in the U.S market in the coming years. Increasing awareness about oral hygiene and health amongst the American population will boost the demand for dental implants in the U.S.  

High Control by Insurance Providers Can Inhibit the Market Growth

Apart from aforementioned factors, unavailability of alternative treatment options will also assist the implantable medical devices market in the U.S. to thrive. However, the market for implantable medical devices in the region faces a tough challenge from tight insurance policies that control the disbursable amount for costly implant procedures. Nevertheless, technological advancements in this field are aiming at reducing the overall cost of treatment, thereby offering a viable solution for the problems created by stringent insurance norms.

Implantable Medical Devices Market in the U.S. is Highly Fragmented

The market for implantable medical devices in the U.S. is highly fragmented with a huge number of small and large-scale companies vying to pocket the lion’s share of the market. The most dominant players who registered sustainable growth over the last couple of years include companies such as, Allergan Incorporated, Boston Scientific Corporation, Bausch & Lomb Incorporated, Johnson & Johnson, Medtronic Incorporated, Sadra Medical, Intelect Medical, Merck & Company Incorporated, Endo Pharmaceuticals Holdings Incorporated, Codman & Shurtleff, Gore (WL) & Associates Incorporated, Abbott Laboratories, Novartis AG, St. Jude Medical Incorporated, Sorin SpA, Davol, Edwards Lifesciences, AlconAmerican Medical Systems Holdings, Smith & Nephew plc, Wright Medical Group Incorporated, Biomet Incorporated, General Electric Company, and Orthofix International NV.

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