Implantable Medical Devices Market Size, Share, Growth Analysis, By Product(Cardiovascular Implants, Orthopedic Implants, Ophthalmology Implants, Dental Implants), By Biomaterial(Ceramic, Metallic, Polymers, Natural), By End-Use(Hospitals, Outpatient Facilities, Specialty Clinics & Centers), By Region - Industry Forecast 2024-2031

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).

Devices or tissues that are inserted into or applied to the body's surface are known as implants. For the purpose of replacing lost body components, many implants are prostheses. A few more implants support tissues and organs, monitor physiological processes, or provide medicine. Controlled Permanent implants can be taken out when they are no longer useful, or they might be introduced for therapeutic and monitoring or diagnostic reasons. Adhered joints, on the other hand, have the additional challenge of working under complex and highly demanding conditions of stress, and the end of the devices’ life cycles is ever increasing. On the other hand, elements of long-term implants carry the benefit of being within constant temperature conditions. 

Growing rates of chronic disease along with an ageing population, an increase in neurological and cardiovascular disorders, and advancements in active implanted medical devices are the main factors propelling the growth of the global implantable medical devices market. Further factors supporting the market's expansion include growing investments and funding for the development of technologically sophisticated goods, growing awareness of medical implants and technological developments in those fields, and an increase in the uses of neurostimulators. The medical surgery industry is anticipated to face growth challenges due to high implantation costs and a shortage of skilled personnel. The global implantable medical devices market, on the other hand, is expanding due to the rise in reimbursement schemes.

US Implantable Medical Devices Market is poised to grow at a sustainable CAGR for the next forecast year.