The global medical implants market is evaluated at US$ 108.209 billion for the year 2019 growing at a CAGR of 6.77% reaching the market size of US$171.175 billion by the year 2026.
Medical implants are artificial devices or tissues, which are used to replace damaged biological structures or enhance an existing biological structure. Examples of implantable devices include orthopedic rods, pins, and screws used to repair fractured bones; artificial hip joints used to replace hip bones worn by arthritis; and cardiac pacemakers used to restore an irregular heart rhythm. The growing global geriatric population along with a rising number of road accidents augments the demand for medical implants worldwide. The increasing prevalence of various chronic diseases further fuels the demand for medical implants. However, the high cost associated with implants and lack of skilled healthcare professionals hinders the growth of the medical implants market. Moreover, inadequate reimbursement policies and the risk of post-surgical genetic disease further challenge the market growth. North America holds a significant share of the global medical implant market followed by Europe due to advancements in medical technologies and rising healthcare expenditure.
According to a report by the AARP Public Policy Institute the market for implantable devices such as hip replacements and heart valves, is a growing market and a key segment of the overall healthcare sector. Medical implants provide substantial benefits. Cardiac pacemakers save lives and artificial hips help people recover function and relieve pain.
The steep increase in the number of arthritis patients at a global is anticipated to be a tailwind to the market during the forecast period
The market is significantly driven due to a steep rise in the number of arthritis cases being registered in recent years
|Market size value in 2019||US$108.209 billion|
|Market size value in 2026||US$171.175 billion|
|Growth Rate||CAGR of 6.77% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Material, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Johnson & Johnson Services, Inc., Abbott Laboratories, Boston Scientific Corporation, Cardinal Health, Inc., Conmed Corporation, Globus Medical, Inc., Integra Lifesciences Holdings Corporation, Smith & Nephew PLC, Stryker Corporation, Zimmer Biomet, Straumann AG, Dentsply Sirona|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the medical implants market size by 2026?
A1. The global medical implants market is projected to reach a market size of US$171.175 billion by 2026.
Q2. What is the size of the global medical implants market?
A2. Medical Implants Market was valued at US$108.209 billion in 2019.
Q3. What are the growth prospects for the medical implants market?
A3. The medical implants market is projected to grow at a CAGR of 6.77% during the forecast period.
Q4. What factors are anticipated to drive the medical implants market growth?
A4. The growing global geriatric population along with a rising number of road accidents augments the demand for medical implants worldwide.
Q5. Which region holds the maximum market share of the medical implants market?
A5. North America holds a significant share of the global medical implant due to advancements in medical technologies and rising healthcare expenditure.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Medical Implants Market Analysis, by Type
6. Medical Implants Market Analysis, by Material
6.2. Metals And Alloys
7. Medical Implants Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Johnson & Johnson Services, Inc.
9.2. Abbott Laboratories
9.3. Boston Scientific Corporation
9.4. Cardinal Health, Inc.
9.5. Conmed Corporation
9.6. Globus Medical, Inc.
9.7. Integra Lifesciences Holdings Corporation
9.8. Smith & Nephew PLC
9.9. Stryker Corporation
9.10. Zimmer Biomet
Johnson & Johnson Services, Inc.
Boston Scientific Corporation
Cardinal Health, Inc.
Globus Medical, Inc.
Integra Lifesciences Holdings Corporation
Smith & Nephew PLC
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