Medical Implant Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMHE21245

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Published on

June 2021

Total pages

184

Table of Content

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About the Report

About the Report

MEDICAL IMPLANTS ARE DEVICES PLACED INSIDE THE BODY FOR MEDICAL PURPOSES. THEY ARE SYNTHETIC MATERIALS WHICH CAN BE BIO OR NON-BIODEGRADABLE. THESE DEVICES ARE USED TO REPLACE BODY PARTS SUCH AS KNEES OR HIPS, MONITOR AND REGULATE BODY FUNCTIONS SUCH AS HEART RATE, DELIVER MEDICATION FOR PAIN RELIEF AND CAN PROVIDE SUPPORT TO ORGANS AND TISSUES. SOME MEDICAL IMPLANTS ARE INERT AND ARE USED FOR STRUCTURAL SUPPORT SUCH AS STENTS OR SURGICAL MESHES WHEREAS OTHERS ARE ACTIVE. ACTIVE IMPLANTS INTERACT WITH THE BODY; EXAMPLES INCLUDE SENDING OUT SHOCK SIGNALS IN RESPONSE TO CHANGES IN THE HEART RHYTHM. EXAMPLES OF IMPLANTABLE DEVICES ARE CARDIAC PACEMAKERS, CORONARY STENTS, IMPLANTABLE CARDIAC DEFIBRILLATORS (ICDS), HIP IMPLANTS, IMPLANTABLE INSULIN PUMPS AND INTEROCULAR LENSES. SOME OF THESE, SUCH AS PACEMAKER CAN BE BATTERY POWERED.

RISING GERIATRIC POPULATION PAIRED WITH GROWING PREVALENCE OF CHRONIC DISEASES ARE THE MAJOR FACTOR DRIVING THE GROWTH OF MEDICAL IMPLANTS MARKET. THE ELDERLY IS MORE SUSCEPTIBLE TO CHRONIC DISEASES SUCH AS ORTHOPAEDIC DISORDERS, CARDIOVASCULAR DISEASES, DENTAL DISORDERS, AND ENDOVASCULAR DISEASES. THIS MAKES THEM THE MAJOR USERS OF MEDICAL IMPLANTS. IN 2019, APPROXIMATELY 95,677 PEOPLE IN ENGLAND, WALES AND NORTHERN IRELAND GOT HIP REPLACEMENTS, AND OF THESE 80% OF THE PEOPLE WERE OVER 60 YEARS OF AGE. OTHER FACTORS LIKE TECHNOLOGICAL ADVANCEMENTS, AVAILABILITY OF BETTER MEDICAL FACILITIES, SURGE IN THE NUMBER OF PEOPLE NEEDING IMPLANTS IS ALSO ACCELERATING THE GLOBAL MEDICAL IMPLANTS MARKET GROWTH. APART FROM THIS, INCREASING AWARENESS AMONG PEOPLE ABOUT BENEFIT OF MEDICAL IMPLANTS PROCEDURE IS ALSO BOOSTING THE MARKET GROWTH. FURTHERMORE, HEALTH INSURANCE COMPANIES ARE SUPPORTING MEDICAL IMPLANTS TO INCREASE THEIR POPULARITY. GOVERNMENTS AROUND THE WORLD ARE ALSO SUPPORTING MEDICAL IMPLANTS. HOWEVER, THE HIGH COST OF MEDICAL IMPLANTS IS ACTING AS A MAJOR LIMITING FACTOR FOR THE MARKET GROWTH. DUE TO THE COVID-19 OUTBREAK, MANY INDUSTRIES ARE WITNESSING A DECLINE IN MARKET GROWTH. THE SAME GOES FOR THE MEDICAL IMPLANTS MARKET. THE AMERICAN COLLEGE OF SURGEONS (ACS) HAVE DEVELOPED NEW GUIDELINES TO STOP NON-EMERGENCY VASCULAR PROCEDURES. ADDITIONALLY, IN REGIONS WITH SEVERE COVID-19 CASES, ALL VASCULAR PROCEDURES EXCEPT THE LIFE AND LIMB SALVAGING CASES ARE NOT ALLOWED. THESE FACTORS ARE PREDICTED TO HAMPER THE MEDICAL IMPLANTS MARKET GROWTH.

BASED ON TYPE, THE MEDICAL IMPLANTS MARKET IS SEGMENTED INTO ORTHOPEDIC IMPLANTS, CARDIOVASCULAR IMPLANTS, SPINAL IMPLANTS, DENTAL IMPLANTS, COSMETIC IMPLANTS, AND OTHERS. SOMETIMES NEUROLOGICAL AND CARDIOVASCULAR ILLNESSES CANNOT JUST BE CURED BY MEDICATION AND MAY NEED IMPLANTABLE DEVICE TO HELP IN THE TREATMENT PROCESS. WITH INCREASING AGEING POPULATION PAIRED WITH GROWING PREVALENCE OF CHRONIC DISEASES, REQUIREMENT FOR IMPLANTABLE DEVICES HAS GROWN SIGNIFICANTLY. ENGINEERING CHALLENGES WITH THESE IMPLANTS INCLUDES STABLE PERFORMANCE AND LOW ENERGY CONSUMPTION. THERE ARE ALSO REABSORB ABLE ELECTRONICS WHICH SHOW EXCELLENT SHORT-TERM RESULTS AND DO NOT NEED SURGICAL REMOVAL. ABOUT 370,000 CARDIAC PACEMAKERS AND AROUND 1 MILLION HIP AND KNEE REPLACEMENTS ARE RECEIVED BY PEOPLE ANNUALLY IN AMERICA. ACCORDING TO EXPERTS 7.2 MILLION AMERICAS WERE LIVING WITH JOINT IMPLANTS IN 2018.

BASED ON MATERIAL, THE MARKET IS SEGMENTED INTO METALLIC, CERAMIC, POLYMERS, AND OTHERS. METALS ARE MOST WIDELY USED FOR LOAD BEARING IMPLANTS. MOST OF THE ORTHOPEDIC SURGERIES WHICH REQUIRES SCREWS, WIRES, TOTAL JOINTS LIKE HIPS, KNEES, SHOULDERS ETC. ARE MOSTLY METALLIC. CERAMICS ARE USED IN WIDELY BY DENTISTS. THESE INCLUDES CROWNING, CEMENTS, AND DENTURES. THERE USE IN OTHER FIELDS OF BIOMEDICINE HOWEVER ARE NOT AS EXTENSIVE. POLYMERS ARE USED AS BIOMATERIALS. THEY ARE USED FROM FACIAL PROSTHESIS TO TRACHEAL TUBES, FROM DENTURES TO HIP AND KNEE JOINTS, AND FROM KIDNEY AND LIVER PARTS TO HEART COMPONENTS. OTHER FORMS OF MEDICAL IMPLANTS ARE COMPOSITES AND NATURAL BIOMATERIALS. COMPOSITES ARE USED IN DENTISTRY AS DENTAL CEMENTS AND RESTORATIVE MATERIALS. NATURAL BIOMATERIALS ARE MATERIALS TAKEN FROM THE ANIMAL AND PLANT WORLDS AND USED TO BUILD BIOMATERIALS FOR IMPLANTS.

BASED ON END-USER MEDICAL IMPLANTS ARE MAJORLY USED BY HOSPITALS/ PHYSICIANS, CLINICS, BIOPHARMACEUTICAL COMPANIES. THIS PROCEDURE IS APPLIED ON PATIENTS ONLY WHEN THEY HAVE A PHYSICIAN PRESCRIPTION. MOST OF THE HIGH-COST IMPLANTABLE DEVICES ARE PURCHASED BY HOSPITALS. INSURERS DO NOT DIRECTLY PAY FOR THESE MEDICAL DEVICES, INSTEAD THEY PAY FOR THE SERVICES I.E., SURGERY, SUPPLIES, NURSING CARE ETC. ACCORDING TO A 2018 CLINICAL JOURNAL ARTICLE, U.S. HOSPITALS SPENT APPROXIMATELY USD 200 BILLION ON MEDICAL DEVICES. THIS FIGURE REPRESENTS 6% OF THE TOTAL U.S. HEALTHCARE SPEND OF USD 3.81 TRILLION IN 2019.

FOR A BETTER UNDERSTANDING OF THE MARKET ADOPTION OF THE GLOBAL MEDICAL IMPLANTS MARKET, THE MARKET IS ANALYSED FOR MAJOR REGIONS INCLUDING NORTH AMERICA (UNITED STATES, CANADA, AND REST OF NORTH AMERICA), EUROPE (GERMANY, FRANCE, ITALY, SPAIN, UNITED KINGDOM AND -REST OF EUROPE), ASIA-PACIFIC (CHINA, JAPAN, INDIA, AUSTRALIA, AND REST OF APAC), AND REST OF WORLD. NORTH AMERICA CONSTITUTES A MAJOR MARKET FOR THE MEDICAL IMPLANTS INDUSTRY AND GENERATED MAXIMUM REVENUE IN 2020 OWING TO THE INCREASING NUMBER OF MEDICAL IMPLANTS IN THE REGION. SOME OF THE MAJOR PLAYERS OPERATING IN THE MARKET INCLUDE ABBOTT LABORATORIES, NOVARTIS INTERNATIONAL AG, ORTHOFIX INTERNATIONAL N.V., JOHNSON & JOHNSON LIMITED, TORNIER N.V., SORIN S.P.A, EDWARDS LIFE-SCIENCES CORPORATION, SMITH & NEPHEW PLC, STRYKER CORPORATION, BOSTON SCIENTIFIC CORPORATION. SEVERAL M&AS ALONG WITH PARTNERSHIPS HAVE BEEN UNDERTAKEN BY THESE PLAYERS TO DEVELOP GLOBAL MEDICAL IMPLANTS MARKET.

Products


Companies

ABBOTT LABORATORIES

NOVARTIS INTERNATIONAL AG

ORTHOFIX INTERNATIONAL N.V.

JOHNSON & JOHNSON LIMITED

TORNIER N.V.

SORIN S.P.A

EDWARDS LIFE-SCIENCES CORPORATION

SMITH & NEPHEW PLC

STRYKER CORPORATION

BOSTON SCIENTIFIC CORPORATION

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 MARKET DEFINITIONS

1.2 OBJECTIVE OF THE STUDY

1.3 LIMITATION

1.4 STAKE HOLDERS

1.5 CURRENCY USED IN REPORT

1.6 SCOPE OF THE GLOBAL MEDICAL IMPLANT MARKET STUDY

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 RESEARCH METHODOLOGY FOR THE GLOBAL MEDICAL IMPLANT MARKET

2.1.1 MAIN OBJECTIVE OF THE GLOBAL MEDICAL IMPLANT MARKET

3 INDUSTRY PERFORMANCE

4 EXECUTIVE SUMMARY

5 COVID-19 IMPACT

6 MARKET INSIGHTS BY TYPE

6.1 ORTHOPAEDIC IMPLANTS

6.2 CARDIOVASCULAR IMPLANTS

6.3 SPINAL IMPLANTS

6.4 DENTAL IMPLANTS

6.5 COSMETIC IMPLANTS

6.6 OTHERS

7 MARKET INSIGHTS BY MATERIALS

7.1 METALLIC

7.2 CERAMIC

7.3 POLYMERS

7.4 OTHERS

8 MARKET INSIGHTS BY END-USER

8.1 HOSPITAL

8.2 PHYSICIANS

8.3 SPECIALITY CENTRES

9 MARKET INSIGHTS BY REGION

9.1 NORTH AMERICA GLOBAL MEDICAL IMPLANT MARKET

9.1.1 UNITED STATES

9.1.2 CANADA

9.1.3 REST OF NORTH AMERICA

9.2 EUROPE GLOBAL MEDICAL IMPLANT MARKET

9.2.1 UNITED KINGDOM

9.2.2 GERMANY

9.2.3 FRANCE

9.2.4 SPAIN

9.2.5 ITALY

9.2.6 REST OF EUROPE

9.3 ASIA-PACIFIC GLOBAL MEDICAL IMPLANT MARKET

9.3.1 CHINA

9.3.2 JAPAN

9.3.3 INDIA

9.3.4 AUSTRALIA

9.3.5 REST OF ASIA-PACIFIC

9.4 REST OF THE WORLD GLOBAL MEDICAL IMPLANT MARKET

10 LEGAL AND REGULATORY FRAMEWORK

11 DEMAND AND SUPPLY SIDE ANALYSIS

11.1 DEMAND SIDE ANALYSIS

11.2 SUPPLY SIDE ANALYSIS

11.2.1 TOP PRODUCT LAUNCHES

11.2.2 TOP BUSINESS PARTNERSHIPS

11.2.3 TOP BUSINESS EXPANSIONS, INVESTMENTS AND DIVESTITURES

11.2.4 TOP MERGER AND ACQUISITIONS

12 VALUE CHAIN ANALYSIS

13 GLOBAL MEDICAL IMPLANT MARKET TRENDS & INSIGHTS

14 GLOBAL MEDICAL IMPLANT MARKET DYNAMICS

14.1 DRIVERS

14.2 CHALLENGES

14.3 IMPACT ANALYSIS

14.4 OPPORTUNITY

15 COMPETITIVE SCENARIO

15.1 GLOBAL MEDICAL IMPLANT MARKET SHARE, BY COMPANY 2020

16 COMPANY PROFILED

16.1 ABBOTT LABORATORIES

16.2 NOVARTIS INTERNATIONAL AG

16.3 STRYKER CORPORATION

16.4 ORTHOFIX INTERNATIONAL N V

16.5 JOHNSON & JOHNSON LIMITED

16.6 BOSTON SCIENTIFIC CORPORATION

16.7 TORNIER NV

16.8 SORIN SPA

16.9 SMITH & NEPHEW PLC

16.10 EDWARDS LIFE-SCIENCES CORPORATION

17 DISCLAIMER

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