Medical implants are always in the news a society where Hollywood stars and supermodels are deities. Sometimes, the news is about a Hollywood star getting some kind of implants and denying it in an “exclusive interview.” Sometimes, the news is about a celebrity promising to refuse implants or any kind of surgery to look young and “grow old naturally.” The culture propagated by media makes people curious about getting implants. Some do it out of medical necessities. But some do it out of curiosity or to look like their favorite star. However, the technique that made medical implants possible aimed to replace missing or damaged biological structure of the body. Some people may see implants as a way of interfering with nature, but necessity is the mother of invention and technique of medical implants was invented as a remedy to various chronic ailments.
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A research report about the global medical implants market, published by Market Research Future (MRFR) has predicted 7.07% CAGR during the forecast period between 2017 and 2023. The key reasons that are boosting the global medical implants market are acceptance of advanced medical implants devices by patients, improvement of surgical outcomes, increasing aging population around the world, and rising prevalence of chronic disease. Rising consumer awareness about various preventive cares and repairs associated with the body and rapidly increasing population worldwide are contributing to the growth of the medical implants market globally. Increasing spending in healthcare domain also fuels the growth of medical implants market. The global medical implants market has been segmented on the basis of the end user, types, and type of material. End-users are segmented into hospitals & clinics, research laboratories, and others. By types, the market is segmented into cardiac implants, cosmetic implants, dental implants, ophthalmic implants, orthopedic implants, spinal implants, and others. Segmentation on the basis of the type of material covers, ceramic material, metallic material, polymers material, and others.
The regional segmentation of the global medical implants market consists of the Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). The Americas dominate the global medical implants market due to the increasing prevalence of chronic diseases. However, due to technological advancement, high health care spending, increasing geriatric population and various research & development (R&D) activities being funded by governments, are expected to be the key factors strengthening the market during the forecast period. The high cost of the devices and ambiguous regulatory framework are likely to have a negative impact on the market. Most of the key players in the global medical implants market in North America are based in the United States of America (USA). Among the Americas, North America might be a bigger market, but South America is growing rapidly and catching up with the former. Europe market which is the second largest regional market comprises of Eastern Europe and Western Europe. Due to advanced medical facilities, better living standards, more prosperity, Western Europe generates more revenue for medical implants market and the biggest markets in Western Europe are countries namely France, Italy, Spain and the United Kingdom (UK). The factors boosting the Europe market for medical implants are increasing support from the government, the presence of huge geriatric population, and high health care spending. Many European countries encourage the manufacturers for research & development (R&D) for the introduction of advanced devices. In addition to this, increasing awareness and developed healthcare infrastructure has provided a push to the growth of the market.
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However, strict regulatory rules can hinder the progress. Among all regional markets, Asia Pacific is the fastest growing market owing to more number of developing nations present in this region. The countries in this region are encouraging the growth of the medical implants devices, and the biggest markets here are Australia, China, India, Japan and South Korea. Remaining countries of Asia Pacific region also have a huge demand for medical implants, and they provide substantial revenue for the market. Contrary to the Asia Pacific region, the MEA region is a smaller market. However, it is likely to grow rapidly during the forecast period. This region has a smaller market not because of lack of demand but because of poor and slow developing countries, especially, in the African region.
The key players in global medical implants market include 3M (USA), Boston Scientific Corporation (USA), Dentsply Sirona (USA), Institut Straumann AG (Switzerland), Johnson & Johnson Services, Inc. (USA), Medtronic (Ireland), Stryker Corporation (USA), Smith & Nephew (UK) and Zimmer Biomet Holdings, Inc. (USA).
Latest Industry News:
- Dentsply Sirona, a key player in global medical implants market, has announced the signing of a definitive agreement to acquire OraMetrix, a provider of innovative 3-D technology solutions. This acquisition aims to improve the efficiency and quality of orthodontic care. The acquisition will enable Dentsply Sirona to provide a comprehensive range of devices to enable dental professionals to match their patient’s growing demands for aesthetics and speed of treatment. The transaction is expected to close in Q2 2018.
- Nearly 48 Puerto Rican employees of Zimmer Biomet Holdings Inc. are relocating to Whitley County more than four months after Hurricane Maria destroyed the US territory. Workers are being transferred to the company’s main campus in Warsaw and will live with their families in nearby Columbia City.
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