The medical implant market was valued at $112.8 billion in 2023, and is projected to reach $225.7 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.
Medical implant is a medical device or tissue that is placed inside or on the surface of the body to replace mimic the functions of biological structures in individuals whose organs are damaged, dysfunctional, or impaired. They are used to restore function and provide support in patients suffering from various medical conditions or injuries. They can be made from a variety of materials, including metals, ceramics, polymers, and biological tissues. Various types of implants include orthopedic, cardiovascular, neurological, dental, ophthalmic, cochlear, and cosmetic implants.
The growth of the global medical implant market is majorly driven by alarming increase in prevalence of chronic conditions such as cardiovascular diseases, diabetes, and neurological disorders necessitates the use of implants for treatment and management, such as pacemakers, stents, and neurostimulators. Moreover, rise in geriatric population acts as a key driving force of the global market. This is attributed to the fact that increase in elderly population leads to a higher prevalence of age-related conditions such as osteoporosis, cardiovascular diseases, and degenerative joint diseases, boosting the demand for medical implants. Furthermore, rise in accidents, sports injuries, and trauma cases leads to higher demand for orthopedic implants to repair and support damaged bones and joints. Thus, these facts determine that orthopedic implants are considered the most common. According to an article published by Wolters Kluwer, a Dutch information services company, almost two million bone grafting procedures are performed worldwide per year. Among these, 500,000 bone graft are performed annually in the U.S. alone. Furthermore, increase in awareness among patients and healthcare providers about the benefits of medical implants and enhanced healthcare facilities and infrastructure in developing regions increase access to advanced medical treatments, including implant surgeries, boost the market growth. Desire for improved physical appearance has significantly propelled the demand for cosmetic surgeries and procedures, such as breast implants and facial implants, further augmenting the market growth. Growing trend of medical tourism, where patients travel to other countries for affordable and high-quality implant procedures, considerably contributes toward the market growth. According to Medical Tourism Association - a non-profit organization in Florida that focuses on raising awareness for medical travel while driving the adoption of affordable and transparent medical practices - approximately 14 million individuals travel to other countries in search of medical care annually across the world, garnering between 50 and 70 thousand million dollars. However, high cost associated with development, production, and implementation of advanced medical implants hampers the growth of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access act as the key deterrent factors of the market. Furthermore, risk of immune rejection and ethical conflicts significantly restrain the market growth. On the contrary, continuous innovations in implant materials, design, and surgical techniques to improve the safety, effectiveness, and longevity of medical implants are expected to offer lucrative opportunities for the market growth during the forecast period. For instance, manufacturers are focusing on the development of implants made from biodegradable materials that gradually dissolve in the body, thus eliminating the need for surgical removal and reducing long-term complications.
The global medical implant market is segmented into product, biomaterial type, and region. On the basis of product, the market is fragmented into orthopedic implants, cardiovascular implants, spinal implants, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants. Depending on biomaterial type, it is categorized into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and natural biomaterials. Region wise, it is analyzed across North America, Europe, Asia-Pacific, LAMEA.
Depending on biomaterial type, metallic biomaterials emerged as the leading segment in 2023.
Region wise, North America was the major shareholder in 2023.
Medical implant is a medical device or tissue that is placed inside or on the surface of the body to replace mimic the functions of biological structures in individuals whose organs are damaged, dysfunctional, or impaired. They are used to restore function and provide support in patients suffering from various medical conditions or injuries. They can be made from a variety of materials, including metals, ceramics, polymers, and biological tissues. Various types of implants include orthopedic, cardiovascular, neurological, dental, ophthalmic, cochlear, and cosmetic implants.
The growth of the global medical implant market is majorly driven by alarming increase in prevalence of chronic conditions such as cardiovascular diseases, diabetes, and neurological disorders necessitates the use of implants for treatment and management, such as pacemakers, stents, and neurostimulators. Moreover, rise in geriatric population acts as a key driving force of the global market. This is attributed to the fact that increase in elderly population leads to a higher prevalence of age-related conditions such as osteoporosis, cardiovascular diseases, and degenerative joint diseases, boosting the demand for medical implants. Furthermore, rise in accidents, sports injuries, and trauma cases leads to higher demand for orthopedic implants to repair and support damaged bones and joints. Thus, these facts determine that orthopedic implants are considered the most common. According to an article published by Wolters Kluwer, a Dutch information services company, almost two million bone grafting procedures are performed worldwide per year. Among these, 500,000 bone graft are performed annually in the U.S. alone. Furthermore, increase in awareness among patients and healthcare providers about the benefits of medical implants and enhanced healthcare facilities and infrastructure in developing regions increase access to advanced medical treatments, including implant surgeries, boost the market growth. Desire for improved physical appearance has significantly propelled the demand for cosmetic surgeries and procedures, such as breast implants and facial implants, further augmenting the market growth. Growing trend of medical tourism, where patients travel to other countries for affordable and high-quality implant procedures, considerably contributes toward the market growth. According to Medical Tourism Association - a non-profit organization in Florida that focuses on raising awareness for medical travel while driving the adoption of affordable and transparent medical practices - approximately 14 million individuals travel to other countries in search of medical care annually across the world, garnering between 50 and 70 thousand million dollars. However, high cost associated with development, production, and implementation of advanced medical implants hampers the growth of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access act as the key deterrent factors of the market. Furthermore, risk of immune rejection and ethical conflicts significantly restrain the market growth. On the contrary, continuous innovations in implant materials, design, and surgical techniques to improve the safety, effectiveness, and longevity of medical implants are expected to offer lucrative opportunities for the market growth during the forecast period. For instance, manufacturers are focusing on the development of implants made from biodegradable materials that gradually dissolve in the body, thus eliminating the need for surgical removal and reducing long-term complications.
The global medical implant market is segmented into product, biomaterial type, and region. On the basis of product, the market is fragmented into orthopedic implants, cardiovascular implants, spinal implants, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants. Depending on biomaterial type, it is categorized into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and natural biomaterials. Region wise, it is analyzed across North America, Europe, Asia-Pacific, LAMEA.
Key Findings
By product, the orthopedic implants segment dominated the market, in terms of share, in 2023.Depending on biomaterial type, metallic biomaterials emerged as the leading segment in 2023.
Region wise, North America was the major shareholder in 2023.
Competition Analysis
Competitive analysis and profiles of the major players in the global medical implant market include Biotronik, Boston Scientific Corporation, CONMED Corporation, Globus Medical, Inc., Institut Straumann AG, Integra LifeSciences Holdings Corporation, LivaNova PLC, Medtronic plc, NuVasive, Inc., and Johnson & Johnson. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to gain a strong foothold and sustain the intense competition.Additional benefits you will get with this purchase are:
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Key Market Segments
By Product
- Orthopedic implants
- Reconstructive Joint Replacements
- Knee Replacement Implants
- Hip Replacement Implants
- Extremities
- Orthobiologics
- Trauma and Craniomaxillofacial
- Cardiovascular Implants
- Pacing Devices
- Cardiac Resynchronization Therapy Devices (CRTs)
- Implantable Cardioverter Defibrillators (ICDs)
- Implantable Cardiac Pacemakers (ICPs)
- Stents
- Coronary stents
- Peripheral stents
- Stent-related Implants
- Structural Cardiac Implants
- Mechanical Heart Valves
- Implantable Ventricular-assist Devices
- Spinal Implants
- Spinal fusion implants
- Spinal bone stimulators
- Vertebral Compression Fracture (VCF) Devices
- Motion Preservation Devices/Non-Fusion Devices
- Neurostimulators
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Vagus Nerve Stimulation
- Spinal Cord Stimulation
- Other neurostimulators
- Opthalmic Implants
- Intraocular Lens
- Glaucoma Implants
- Dental Implants
- Plate Form Dental Implants
- Root Form Dental Implants
- Facial Implants
- Breast implants
By Biomaterial Type
- Metallic Biomaterials
- Ceramic Biomaterials
- Polymers Biomaterials
- Natural Biomaterials
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Biotronik
- Boston Scientific Corporation
- CONMED Corporation
- Globus Medical, Inc.
- Institut Straumann AG
- Integra LifeSciences Holdings Corporation
- LivaNova PLC
- Medtronic plc
- NuVasive, Inc.
- Johnson & Johnson
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: MEDICAL IMPLANT MARKET, BY PRODUCT
CHAPTER 5: MEDICAL IMPLANT MARKET, BY BIOMATERIAL TYPE
CHAPTER 6: MEDICAL IMPLANT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Biotronik
- Boston Scientific Corporation
- CONMED Corporation
- Globus Medical, Inc.
- Institut Straumann AG
- Integra LifeSciences Holdings Corporation
- LivaNova PLC
- Medtronic plc
- NuVasive, Inc.
- Johnson & Johnson
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 300 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 112.8 billion |
| Forecasted Market Value ( USD | $ 225.7 billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
