Implantable Medical Devices Market Will Reach USD 23330 Million By 2028 With A CAGR of 7.4% | Valuates Reports

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Sep 19, 2022, 12:00 ET

BANGALORE, India , Sept. 19, 2022 /PRNewswire/ -- The Implantable Medical Devices Market is segmented by Type - Breast Implants, Dental Implants, Facial Implants, by Application - Hospitals, Ambulatory Surgery Centers (ASCs), Clinics. Global Opportunity Analysis and Industry Forecast, 2022- 2028. It is published in Valuates Reports under the Medical Devices & Equipment Category.

The global Implantable Medical Devices market size is estimated to be worth USD 13740 million in 2021 and is forecast to a readjusted size of USD 23330 million by 2028 with a CAGR of 7.4% during the forecast period 2022-2028.

Major Factors Driving The Growth Of The Implantable Medical Devices Market Are

The desire to improve physical attractiveness is increasing, which has fueled industry expansion worldwide. The implantable medical devices market is also anticipated to be driven by a growing aging population, higher knowledge of and technological improvements in medical implants, as well as an increase in investments and funding for the development of technologically advanced goods.

The 3D medical printing trend, which is projected to grow and be used in many fields of medicine, is one of the key ones the market is currently experiencing. Biocompatible Silicone Use in Implantable Medical Devices is Growing

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TRENDS INFLUENCING THE GROWTH OF THE IMPLANTABLE MEDICAL DEVICES MARKET

Rising incidences of Dental Problems are expected to fuel the Medical Devices market growth. Consumption of processed and unhealthy foods has surged recently all across the world. The general health of the populace as well as oral health have suffered as a result of this. As a result, more people are choosing dental implants. Additionally, periodontics and orthodontics also use dental implants.

The rising desire for cosmetic procedures has led to a significant evolution in breast implantation surgery. The breast implantation market's revenue is mostly driven by women who place a high value on improving their aesthetic appeal. Women over the age of 18 are permitted to get breast augmentation procedures, according to the FDA.

Another key factor boosting the expansion of this Implantable Medical Devices market is the increased incidence of breast cancer. In extreme circumstances, this condition can be prevented by undergoing a mastectomy, which entails the removal of the entire organ. Reconstruction of this organ is also seen to be a viable alternative for the treatment of this illness. Reconstructing the excised organ's form is the goal of this technique. As a result, there will soon be greater demand for breast implantation due to the increase in reconstruction cases.

Throughout the forecast period, the Implantable Medical Devices market is anticipated to be driven by the growing virtual representation on social media. Additionally, it is anticipated that an increase in cosmetic procedures would occur due to the local population's increased preoccupation with their own appearance in both developed and emerging nations.

Due to its advantages in high precision, complex structure, and high material usage, 3D printing technology has become widely used in the field of implantable medical devices in recent years. Implantable medical gadgets to enhance patients' quality of life have also been increasingly adopted as public awareness of health issues continues to rise. This in turn is expected to further boost the Implantable Medical Devices market.

Furthermore, the use of Biocompatible Silicone in implantable medical devices is expected to create lucrative growth opportunities. Silicone rubber is a staple of medical devices of many kinds, but especially for long-term implants because of its excellent chemical inertness, durability, tensile strength, availability in a wide variety of durometers, wide temperature range, and simplicity of molding by several processes.

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IMPLANTABLE MEDICAL DEVICES MARKET SHARE ANALYSIS

Based on region, North America held a significant portion of the global market for implantable medical devices, and it is anticipated that it will continue to hold this position during the forecast period. This has been attributed to an increase in the prevalence of chronic diseases, a surge in the demand for implantable medical devices, the availability of cutting-edge healthcare facilities with skilled medical personnel, an increase in the number of R&D activities combined with a significant presence of key players, and an increase in government investment in the healthcare system.

During the forecast period, the dentistry segment is anticipated to be the most lucrative. This is only explained by the increase in demand for dental implants to enhance facial physical looks.

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Market By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key players

Allergan
Johnson & Johnson
Nobel Biocare
Straumann
Stryker
3M Healthcare
Arion Laboratories
BioHorizons

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