What is the global market size of Implantable Medical Devices Market?

Implantable Medical Devices Market size was valued at USD 167008.16 million in 2021 and is poised to grow from USD 334722.99 million in 2022 to USD 179032.75 million by 2030, growing at a CAGR of 7.2% in the forecast period (2023-2030).

Who are the key vendors in the Global Implantable Medical Devices Market?

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Medtronic Plc', 'Johnson & Johnson', 'Abbott Laboratories', 'Boston Scientific Corporation', 'Zimmer Biomet Holdings, Inc.', 'Stryker Corporation', 'Smith & Nephew PLC', 'Becton, Dickinson and Company', 'LivaNova PLC', 'Edwards Lifesciences Corporation', 'Terumo Corporation', 'Cochlear Limited', 'Allergan Plc', 'Straumann Holding AG', 'Integra LifeSciences Holdings Corporation', 'Dentsply Sirona Inc.', 'Globus Medical, Inc.', 'Olympus Corporation', 'NuVasive, Inc.', 'Cyberonics, Inc.'.

What is the key driver of Global Implantable Medical Devices Market?

The high implantation cost and lack of trained professionals in the medical surgeries sector are expected to hinder the market growth.

What is the key market trend for Global Implantable Medical Devices Market?

One of the key trends in the global implantable medical devices industry is the introduction of connected medical devices. Connected devices are likely to deliver value and efficiency for healthcare providers. The rise in the number of connected medical devices, together with advances in the systems and software that support the capture and transmission of medical-grade data, connectivity technologies, and services, has created the Internet of Medical Things (IoMT). Increased trends in connected medical devices are likely to create ample new opportunities in the market in the upcoming years.

Which region accounted for the largest share in Global Implantable Medical Devices Market?

The Global Implantable Medical Devices Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2022, the North American region is projected to hold the most substantial share of the market. The regional market is likely to be driven by the high prevalence of cardiovascular and orthopedic diseases among the population, high government funding in research and development, a growing number of new product launches by key market players, and a well-established healthcare sector in the region.

Implantable Medical Devices Companies

Implantable Medical Devices Market Competitive Landscape

Implantable Medical Devices Market Top Player’s Company Profiles

Medtronic Plc (Ireland)
Abbott Laboratories (USA)
Johnson & Johnson (USA)
Boston Scientific Corporation (USA)
Smith & Nephew plc (UK)
Stryker (USA)
Cochlear Limited (Australia)
Integra LifeSciences (USA)
LivaNova PLC (UK)
Biotronik SE and Co. KG (Germany)
Zimmer Biomet Holdings, Inc. (US)
Edwards Lifesciences Corporation (US)
Hearing Life (US)
Nevro Corp. (US)
Orthofix Medical Inc. (US)
NuVasive, Inc. (US)
W. L. Gore & Associates, Inc. (US)
AngioDynamics, Inc. (US)
Ramsay Santé (France)
Hologic, Inc. (US)
Abiomed, Inc. (US)
Straumann Holding AG (Switzerland)
KARL STORZ SE & Co. KG (Germany)

Implantable Medical Devices Market

FAQs

Global Implantable Medical Devices Market size was valued at USD 90.50 billion in 2022 and is poised to grow from USD 96.11 billion in 2023 to USD 155.51 billion by 2031, growing at a CAGR of 6.20% during the forecast period (2024-2031).

The competitive landscape of the global implantable medical devices market is characterized by the presence of key players striving for innovation and market share. The industry is dominated by well-known corporations such as Medtronic, Abbott Laboratories, Boston Scientific, and Johnson & Johnson, which have sophisticated products and technologies. These companies carry out extensive research and development aimed at increasing the effectiveness of its devices and ensuring better health results for patients. Besides, these groups emphasize forming new alliances and taking over other firms to enlarge their product range and presence in developing countries. 'Medtronic Plc (Ireland) ', 'Abbott Laboratories (USA) ', 'Johnson & Johnson (USA) ', 'Boston Scientific Corporation (USA) ', 'Smith & Nephew plc (UK) ', 'Stryker (USA) ', 'Cochlear Limited (Australia) ', 'Integra LifeSciences (USA) ', 'LivaNova PLC (UK) ', 'Biotronik SE and Co. KG (Germany) ', 'Zimmer Biomet Holdings, Inc. (US) ', 'Edwards Lifesciences Corporation (US) ', 'Hearing Life (US) ', 'Nevro Corp. (US) ', 'Orthofix Medical Inc. (US) ', 'NuVasive, Inc. (US) ', 'W. L. Gore & Associates, Inc. (US) ', 'AngioDynamics, Inc. (US) ', 'Ramsay Santé (France) ', 'Hologic, Inc. (US) ', 'Abiomed, Inc. (US) ', 'Straumann Holding AG (Switzerland) ', 'KARL STORZ SE & Co. KG (Germany)'

The rising incidence of chronic diseases, such as cardiovascular conditions, diabetes, and orthopedic disorders, is a significant driver for the global implantable medical devices market. With the increase in elderly population globally, the need for well-advanced therapeutic interventions, implantable devices inclusive, is on the rise fueling market development.

Integration of Smart Technologies: The global implantable medical devices market is increasingly integrating smart technologies, such as sensors and connectivity features. By incorporating these technologies, it is now possible to monitor healthcare indicators in real time: healthcare personnel can monitor the patient’s parameters from a distance, which contributes to the quality of individualized care and improves the healthcare outcomes through early action and better control of diseases.

North America dominates the global implantable medical devices market due to several key factors, including advanced healthcare infrastructure, significant investment in research and development, and a high prevalence of chronic diseases. There exists a strong regulatory environment in the region that stimulates creativity and facilitates rapid review processes for new products. Moreover, there is a viable healthcare system and a growing number of elderly people that create a need for implantable devices. Added healthcare costs, together with rising concern by patients about available treatment options and the rise in medical technological innovations, reinforces the stand of the north region as the market leader, creating an avenue for the innovation and use of implantable medical devices.

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What is the global market size of Implantable Medical Devices Market?

Who are the key vendors in the Implantable Medical Devices Market?

What is the key driver of Implantable Medical Devices Market?

What is the key market trend for Implantable Medical Devices Market?

Which region accounted for the largest share in Implantable Medical Devices Market?

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