Implantable Medical Device Market by Product, Biologics, End User

Description

List of Tables

[190 Pages Report] The Implantable Medical Device Market size was estimated at USD 104.32 billion in 2023 and expected to reach USD 111.54 billion in 2024, at a CAGR 7.43% to reach USD 172.32 billion by 2030.

The implantable medical device comprises a range of products designed to be surgically placed inside or on the bone surface. These devices provide support, monitor bodily functions, or deliver therapy. Typical applications include cardiovascular implants, neurological stimulators, orthopedic implants, and other types of prosthetics. The end-use environments for these devices are usually hospitals, ambulatory surgical centers, and specialty clinics. An increase in chronic conditions such as cardiovascular diseases, diabetes, and neurological disorders increases the need for implantable devices. The rising adoption of minimally invasive surgeries is expanding the usage of implantable medical devices. The high cost of development of implantable medical devices hampers the growth of the market. The advent of smart, connected implantable devices with the integration of IoT and AI in medical implants that offer real-time monitoring and data analysis for better patient outcomes are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 104.32 billion
Estimated Year [2024]	USD 111.54 billion
Forecast Year [2030]	USD 172.32 billion
CAGR (%)	7.43%

Product: Growing usage of cardiovascular implants for life-saving intervention and long-term therapy

Breast implants are prosthetics used for breast augmentation and reconstruction purposes. These implants are generally preferred by patients seeking cosmetic enhancements or those necessitating reconstructive surgery post-mastectomy due to breast cancer. Cardiovascular implants encompass a wide range of devices, including stents, pacemakers, and heart valves. Preferred for patients with cardiovascular diseases, they're critical for life-saving intervention and long-term therapy. Dental implants involve the replacement of tooth roots with metal posts, which provide a foundation for artificial teeth. They're a preferred option for individuals with missing teeth due to superior stability compared to traditional dentures. Facial implants are used to enhance and reconstruct facial contours, primarily for aesthetic reasons or to remedy congenital defects or trauma. Intraocular lenses are inserted into the eye to replace the original lens when it is removed during cataract surgery. They are preferred for patients with cataracts and refractive errors. Orthopedic implants are medical devices utilized to support or replace joints or bones. These implants are necessitated by conditions including osteoarthritis, fractures, and other degenerative bone diseases.

Biologics: Increasing demand for metal based medical

Biologics refer to a range of products such as proteins, nucleic acids, or living cells that are used in the medical field to treat, prevent, or diagnose diseases. In the context of implantable devices, biologics often include tissue-engineered products that can integrate with the human body for regenerative purposes. Ceramics are biocompatible and exceptionally durable materials that are often used for orthopedic implants such as joint replacements and dental applications due to their wear resistance and stability. Metals including, titanium, stainless steel, and cobalt-chromium alloys are commonly used in implantable medical devices due to their strength, biocompatibility, and resistance to corrosion. Polymers such as silicone, polyethylene, and PEEK (polyether ether ketone) are prized for their versatility, biocompatibility, and ease of shaping. These materials are widely used in devices that require flexibility, such as catheters, or strength without weight, such as in some orthopedic implant components.

End User: Rising significance of implantable medical devices across hospitals due to their capability to carry out complex surgeries

Ambulatory surgery centers, also known as ASCs, provide a setting for surgeries outside of the traditional hospital system. They are typically more cost-effective and have shorter wait times, which makes them increasingly popular for minor surgical procedures, including certain implantable device procedures. Patients often prefer ASCs for their convenience and efficiency, as well as the lower infection rates compared to some hospitals. Clinics, especially specialized ones, are increasingly involved in the management of chronic diseases requiring implantable medical devices, such as diabetes management clinics installing insulin pumps or cardiology clinics that may implant pacemakers. They offer specialized care that may not require the extensive infrastructure of a hospital.Hospitals represent the largest segment for implantable medical devices, due to their capability to carry out complex surgeries and manage post-operative care. Hospitals require a wide range of implantable devices that may include high-tech options such as neurostimulators, orthopedic implants, and cardioverter defibrillators. The need-based preference in hospitals is for devices that are versatile and support a range of surgical complexities.

Regional Insights

In the Americas, the implantable medical device market is highly sophisticated, with an emphasis on innovation and quality due to the high standards set by the FDA. The adoption of advanced technologies such as 3D printing and nano-technology is rapidly increasing in the Americas, subsequently creating a platform for market growth. The EMEA region showcases diverse healthcare standards and consumer needs with rigorous regulations focusing on safety and efficacy, thereby creating the need for certified high-quality devices. In the European Union, the market is regulated by strict EU directives and regulations, which demand high standards of safety and quality. Healthcare infrastructure and consumer purchasing behavior are influenced by reimbursement scenarios and economic stability, which varies among member countries. The Middle East and Africa portray a growing market for implantable medical devices, primarily driven by economic diversification and an increase in healthcare expenditure. The APAC region represents a vast and heterogeneous market experiencing rapid growth due to increasing healthcare spending and a large, aging population. Significant investments in healthcare and a strong focus on local manufacturing of implantable devices across China, India, and South Korea are expected to create a platform for market growth in Asia-Pacific. The "Made in China 2025" initiative aims to increase the country's self-sufficiency in medical device production, influencing customer purchases towards domestic brands.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Implantable Medical Device Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Implantable Medical Device Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Implantable Medical Device Market, highlighting leading vendors and their innovative profiles. These include BIOTRONIK SE & Co KG, Boston Scientific Corporation, Conmed Corporation, Globus Medical, Inc., Integra Lifesciences Holdings Corporation, Johnson & Johnson Services, Inc., LivaNova plc, Medtronic plc, NuVasive, Inc., Smith & Nephew plc, Sterling Medical Devices, Straumann Group, Stryker Corporation, W. L. Gore & Associates, Inc., and Zimmer Biomet Holdings, Inc..

Market Segmentation & Coverage

This research report categorizes the Implantable Medical Device Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Breast Implants
- Cardiovascular Implants
- Dental Implants
- Facial Implants
- Intraocular lenses
- Orthopedic Implants

Biologics
- Biologics
- Ceramics
- Metals
- Polymers

End User
- Ambulatory Surgery Centers
- Clinics
- Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Implantable Medical Device Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Implantable Medical Device Market?

3. What are the technology trends and regulatory frameworks in the Implantable Medical Device Market?

4. What is the market share of the leading vendors in the Implantable Medical Device Market?

5. Which modes and strategic moves are suitable for entering the Implantable Medical Device Market?

Product Code: MRR-4355714631BF

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising prevalence of chronic diseases with the rising adoption of implantable medical devices
  - 5.1.1.2. Increasing government focus on funding R&D initiatives and better reimbursement policies
  - 5.1.1.3. Growing adoption of minimally invasive surgeries
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with implantable medical devices
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in the field of implantable medical devices
  - 5.1.3.2. Rising number of FDA approvals for performing clinical trials
- 5.1.4. Challenges
  - 5.1.4.1. Potential risks associated with implantation surgeries
5.2. Market Segmentation Analysis
- 5.2.1. Product: Growing usage of cardiovascular implants for life-saving intervention and long-term therapy
- 5.2.2. Biologics: Increasing demand for metal based medical
- 5.2.3. End User: Rising significance of implantable medical devices across hospitals due to their capability to carry out complex surgeries
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Implantable Medical Device Market, by Product

6.1. Introduction
6.2. Breast Implants
6.3. Cardiovascular Implants
6.4. Dental Implants
6.5. Facial Implants
6.6. Intraocular lenses
6.7. Orthopedic Implants

7. Implantable Medical Device Market, by Biologics

7.1. Introduction
7.2. Biologics
7.3. Ceramics
7.4. Metals
7.5. Polymers

8. Implantable Medical Device Market, by End User

8.1. Introduction
8.2. Ambulatory Surgery Centers
8.3. Clinics
8.4. Hospitals

9. Americas Implantable Medical Device Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Implantable Medical Device Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Implantable Medical Device Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Injectsense and Injectpower Raise USD 9.4 Million for Miniature Implantable Devices
- 12.3.2. BIOTRONIK Announced Implant of New Implantable Cardiac Monitor With Artificial Intelligence, Targeting Efficiency in Monitoring for Cardiac Arrhythmias
- 12.3.3. Invibio Launches New Implantable PEEK Polymer
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio