Steady Growth in Global Medical Implants Market: Ken Research
Posted on 17 October 2016 by KenResearch Healthcare,
A medical device which has the capability to replace a damaged or missing structure in our body is called an implant. Implants can as well operate to enhance an already existing structure or support a damaged structure in the human body. Further man-made devices, which are transplanted biomedical tissue, are called medical implants. The medical implants are made with their surface materials like titanium, silicone, orapatite etc. This is the material that stays in contact with the human body and the selection of the material is based on the functionality of the device. Some medical implants as well contain electronic material e.g. cochlear implants and pacemakers.
The related report "MEDICAL IMPLANTS MARKET BY TYPE-GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2014-2022" is curated with an in-depth analysis of all the current and future aspects affecting the market. The report covers the description of market segregation by its type and as well provides an overview of opportunities at global level of medical implants market for the duration of 2014-2022.
The global medical implants market is showing a very steady growth, is expected that by 2017 it will grow at a rate of CAGR of 7.1%. Further in future estimation suggests by 2022 that it will reach up to USD 116,300 million. The major growth drivers of growing medical implants market are rising chronic disease and rapidly ageing population. Increasing knowledge of upcoming technologies and huge advancements in technology are supporting the market growth of medical implants. National Institutes of Health suggests that the 65 years above population is expected to grow by 1.5 billion till 2050 from 524 million in 2010.
But on the other hand lacking experts and extremely high cost of implantation are few barrios that are restraining the market growth.
The segregation of the global implants market can be done on the basis of material, geography and product type. Further on the basis of product type, major classification of the market is into four classes: stents, dental implants, structural cardiac implants, spinal implants, pacing devices, orthopaedic implants, neurostimulators, breast implants, facial implants, and ophthalmic implants. As observed, due to stressful hyperactive lifestyle, growing number of aging population, advancing medical technologies and unhealthy eating habits caused orthopaedic implants market to become highest revenue generating section in 2015.Neurostimulators is approximated to show fastest growth out of all segments, driven by factors: rising ageing population and increasing prevalence of neurological diseases.
Segmentation of market by type:ceramic biomaterials,natural biomaterials, metallic biomaterials and polymers biomaterials.
Segmentation of market by geography: North America, Europe, Asia-Pacific and LAMEA.
Categorization of implants can be done on the basis of their application. The major sections of medical implants application are:
1. Neurological and Sensory
The disorders where major senses or brain is affected, sensory and neurological implants are used. These implants are majorly used for the treatment of conditions like glaucoma, visual impairments, cataract, keratoconus and hearing impairment or loss issue etc.
Medical conditions where heart and its valves or our circulatory system’s working is disordered, cardiovascular devices are put to use. Medical conditions like ventricular tachycardia, heart failure, valvular heart disease, atherosclerosis cardiac arrhythmia and angina pectoris devices such as artificial heart, implantable cardioverter-defibrillator, coronary stent cardiac pacemaker and artificial heart valve are used.
These implants are beneficial for the treatment of the bones and joins issues of the body such as bone fractures, scoliosis, chronic pain etc. In order to treat such issues rods, plates and screws etc. are installed in the body which they heal fractured bones.
The primary role of contraceptive devices is to prevent the unwanted and unintended pregnancy. Hormone based intrauterine devices and copper based devices are the examples of such implants.
Most commonly known as plastic surgery is an attempt where a portion of the back body is brought to improve other parts aesthetically. This technique can be used to correct some form of deformity or disfigurement. Examples of such implants are breast implants, ocular prosthesis and nose prosthesis etc.
The report covers analysis of major market players in the field of medical implants such as: Johnson and Johnson,Boston Scientific Corporation,NuVasive,Wright Medical Group N.V.,Medtronic plc, Abbott Laboratories, Biotronik SE & Co. KG,Zimmer Biomet Holdings, LivaNova PLC, Stryker Incorporated, Smith and Nephew plc, Straumann Holding AG., Globus Medical, Inc.,St. Jude Medical, Integra LifeSciences Holding Corporation, Cardinal Health, Inc., and Conmed Corporation.
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