Global Medical Implant Market - Revenue, Growth Rate, Application, Sales, Trends and Forecast

The Global Medical Implant Market is expected to reach $ 116 billion by 2022. Orthopedic implants are expected to maintain high sales throughout the forecast period. North America led the market in 2015 and is expected to remain dominant over the course of the study.

Key factors driving market growth include technological advances such as bioabsorbable stents, an increased incidence of chronic disease, and an increase in the elderly population worldwide. Improving patient awareness and increasing disposable income in developing countries will further increase the adoption of medical implants. Demand for medical implants is expected to increase with the emergence of emerging market market opportunities and minimally invasive surgical procedures. Alternatively, high-cost medical implants and limited coverage are key factors that impede market growth.

The major strategies adopted by the leading market players include new product launches & approvals and collaborations. In March, 2016, Zimmer Biomet launched the hip replacement offering and knee implant systems. It enhanced the companys implant and musculoskeletal treatment product portfolio and helped to strengthen their existing product portfolio.

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The major companies profiled in this report include

·         Stryker Corporation

·         Boston Scientific Corporation

·         Johnson & Johnson

·         Integra Lifesciences Holdings Corporation

·         Medtronic Plc.

·         Smith & Nephew Plc.

·         St. Jude Medical Inc.

·         Zimmer Biomet Holdings Inc.

·         C.R. Bard Inc.

·         LivaNova Plc.

·         Straumann AG.

These devices are further categorized into reconstructive joint replacements, orthobiologics, and trauma & craniomaxillofacial, among which reconstructive joint replacements had the highest market share in 2015.

Neurostimulators has emerged as the fastest growing segment, registering a CAGR of 12.7% during the forecast period. The major factors contributing to this segments growth are increasing prevalence of neurological disorders, high adoption rate in developed economies, and increasing number of clinical trials. The metallic segment was the leading biomaterial, due to its increasing usage as load bearing implants in joint reconstruction surgeries and dental implants, in 2015.

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Key findings of Medical Implants Market:

• Orthopaedic implant generated the highest revenue in 2015, and is projected to grow at a CAGR of 7.2% during the forecast period.
• The neurostimulators segment is expected to grow at a remarkable CAGR of 12.7% during the analysis period.
• U.S. is the major shareholder accounting for 70.7% share of the overall North American medical implants market.
• Dental implants market is projected to grow at a CAGR of 8.2%.
• Germany accounted for around one-fourth share of the European medical implants market in 2015.
• Japan medical implants market is expected to continue to be the highest revenue-generating market in Asia-Pacific.

Geographically, the North American region accounted for the majority of the share in the medical implant market in 2015, and is expected to maintain its lead throughout the forecast period. This is attributed to the high awareness and the advance healthcare infrastructure in this region. However, Asia-Pacific is projected to be the fastest growing region due to the increasing incidence of chronic disorders (such as heart disease, cancer, and diabetes), growing geriatric population, and improving health care infrastructure.

The medical implants market in Germany is growing at a steady pace, attributed to the rising incidence of chronic diseases. Germany has one of the highest death rates due to heart diseases (even higher than the U.S. or U.K.), lifestyle factors such as increase in rate of smoking (In Germany, for group of more than 15 years of age population, on an average nearly 24.5% are smokers, in the age group 18 to 25 years 35.2% are smokers) and rise in obesity are the major factors behind the health diseases. The country spends more on dental services compared to any other European country apart from Switzerland, which makes it an attractive market for the dental implants industry.

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