The global Medical Implant market has been evaluated as rapidly growing market and it is expected that the market will continue to grow similarly in the near future. These are the devices or tissues that placed inside or on the surface of body as a replacement of damaged or missing organ or body parts. Medical implants can placed parentally or it can be removed after certain period if not needed. Medical implants help patients to recover from accidental injuries or other critical medical conditions. Healthcare professional are rapidly adopting the use of medical implants are key factor for the growth of the market. Increasing awareness and aging population are also driving the growth for the market. Medical implant manufacturers and research centers are spending money on R&D to develop new products for the market. Technological advancement and innovation are key drivers for the growth of the market. Patients are also not hesitating to go for medical implant after injury or other medical complications due to which the growth curve for the demand of medical implant is moving upward. Growing healthcare infrastructure facilities, and availability of skilled professionals are leading the growth for the medical implant market.
However, there are some factors that are affecting the growth of medical Implant market such as side effects like infection and pain, failure of implant, complication in surgery, price of the medical implant, lack of knowledge about the products, slow adoptability, lack of skilled required, not availability of products, access to healthcare facilities in some regions etc.
The global Medical Implant market was around US$ 94.5 billion in 2015 and is expected to reach US$ 171.5 billion by 2023 at the CAGR of 7.7% during the forecast period.
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Major Key Players:
- Stryker (US),
- Medtronic (Republic of Ireland),
- Zimmer Inc. (US),
- Smith & Nephew (U.K),
- DePuy Synthes (US),
- Orthofix Holdings, Inc. (US),
- Institut Straumann AG (Switzerland),
- Henry Schein, Inc. (US),
- 3M (US),
- Globus Medical Inc. (US)
Depending on geographic region, Medical Implant market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America is believed to be the largest market for Medical Implant. Moreover the European medical implant market is also growing and second largest market. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Medical Implant during the forecasted period. Rest of the World is likely to have a limited but steady growth in the market.
Test the market data and market information presented through more than 76 market data tables and figures spread over 85 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Medical Implant Market Research Report –Global Forecast to 2023.”
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Medical Implant market has been segmented on the basis of type which comprises Orthopedic Implant, Dental implant, Cardiac Implant, Cosmetic implants, and others. On the basis of type of material, the market is segmented into Metal and metal alloys, Ceramic, Polymer, and other. On the basis of end user market is segmented into Hospitals, Ambulatory care centers, Research centers, and others.
Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: The market for Medical Implant is growing rapidly and expected to continue its growth similarly in near future. Medical Implant provides replacement and support to the missing or damaged body part and placed either inside or on the surface of the body according to medical condition of patient. The global market for Medical Implant is growing at the CAGR of 7.7%. The global market for Medical Implant was around US$ 94.5 billion in 2015 and is expected to reach US$ 171.5 billion by 2023.
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Table of Content
1. Report Prologue
2.2 Scope of the Study
2.2.1 Research Objective
2.3 Market Structure
2.4. Market Segmentation
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
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