Medical implant is a kind of device which is used for replacement or missing body parts. There are various materials used for manufacturing medical implants such as metallic, ceramic, polymers, and others.
The increasing prevalence of chronic diseases is expected to drive the market growth during the forecast period. Furthermore, investments in the healthcare domain, especially in developing regions, and the expenditure on research and development in the healthcare sector have substantially increased over the past few years. This rise in healthcare expenditure is likely to drive the growth of the market. Additionally, increasing demand for medical implants in developed economies and developing economies is fueling the growth of medical implant market.
However, high cost and stringent regulatory framework with medical implants may hamper the market growth in the coming future.
The global medical implant market is expected to reach USD 121386.6 million by 2023 from USD 112083.6 million in 2016. This market is expected to register a stable CAGR of 7.07% during the forecast period, 2017-2023.
On the basis of type, the medical implant market is classified as orthopedic implants, cardiac implants, spinal implants, dental implants, cosmetic implants, and others. In 2016, the orthopedic implants segment commanded the largest market share of the global medical implant market, by type segment.
Medical implants are categorized by type of material such as metallic, ceramic, polymers, and others. The metallic material market is growing tremendously because most metals used in the manufacturing of implants can be accepted by the body quickly. Thus, it holds the maximum share of the medical implant market, by type of material.
On the basis of end-user, the global medical implant market is segmented into hospitals and clinics, research laboratories, and others. The hospitals and clinics market is projected to reach USD 147168.8 million by the end of 2023 at a CAGR of 7.44% from 2017 to 2023.
On the basis of region, the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas hold the largest share of the global medical implant market and is expected to reach USD 77770.6 million by 2023. Asia Pacific is the fastest growing market, which is expected to register a CAGR of 7.55% over 2017-2023.
Key Players
Some of the key players in the medical implant market are Boston Scientific Corporation, Medtronic, 3M, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew, Dentsply Sirona, Institut Straumann AG, and others.
Study Objectives
> To provide comprehensive analysis of the medical implant industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
> To provide detailed insights into the factors driving and restraining the growth of global medical implant market
> To estimate the market size of the global medical implant from 2014 to 2023. Wherein, 2014 & 2015 would be the historic period, 2016 shall be the base year, and 2017 to 2023 will be the forecast period for the study
> To analyze the global medical implant market, on the basis of four main geographies, namely, Americas, Europe, Asia Pacific, and the Middle East & Africa
> To compare the products with respect to various players in the market
> To provide the country-wise market value analysis for various segments of the medical implant market
> To understand the demand-supply scenario and provide the gap analysis of the industry
> To analyze and provide upcoming technologies and trends in the medical implant market
> To provide strategic profiling of key companies (manufacturers and distributors) present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market
Target Audience
> Medical Implant Manufacturers
> Medical Implant Suppliers
> Medical Implant Distributors
> Medical Device companies
> Research and Development (R&D) Companies
> Medical Research Laboratories
> Academic Medical Institutes and Universities
Key Findings
> Americas accounted for the largest market share in the global medical implant market. It is estimated to reach USD 77770.6 million by 2023
> The orthopedic implant type of implant is expected to command the largest market share of 31%.
> The metallic segment in type of the material segment is expected to command the largest market share of 49% over the review period and is also expected to grow at the fastest CAGR of 7.43% during the forecast period 2017-2023
The report also covers the regional analysis
> Americas
o North America
? U.S.
? Canada
o South America
> Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
> Asia Pacific
o Japan
o China
o India
o Republic of Korea
o Rest of Asia Pacific
> Middle East & Africa
o Middle East
o Africa
