Medical implants market is projected to witness a CAGR of 6.62% during the forecast period to reach a total market size of US$140.67 billion by 2023, increasing from US$95.781 billion in 2017. Medical implants are artificial devices or tissues, which are used to replace damaged biological structures or enhance an existing biological structure. Growing global geriatric population along with rising number of road accidents augments the demand for medical implants worldwide. Increasing prevalence of various chronic diseases further fuels the demand for medical implants. However, high cost associated with implants and lack of skilled healthcare professionals hinders the growth of medical implants market. Moreover, inadequate reimbursement policies and risk of post-surgical genetic disease further challenge the market growth. North America holds a significant share of global medical implant market followed by Europe due to advancement in medical technologies and rising healthcare expenditure.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Medical Implants value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
Major industry players profiled as part of the report are Johnson & Johnson Services, Inc., Abbott Laboratories, Edwards Lifesciences Corporation, Orthofix Holdings, Inc., Novartis AG, Boston Scientific Corporation, SmithNephewplc, Stryker, and Wright Medical Group N.V.
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Middle East and Africa