(Health-NewsWire.Net, June 11, 2018 ) Global Implantable Medical Devices market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Implantable Medical Devices Market
Implantable medical devices are used as replace or act as a fraction of or the whole biological structure. Currently, these devices are being used in many different parts of the body for various applications such as orthopedics, pacemakers, cardiovascular stents, defibrillators, neural prosthetics or drug delivery systems etc.
Market Dynamics: Implantable Medical Devices Market
An increase in the number of keratoplasty cases and corneal surgeries will boost Implantable medical devices market growth over the forecast period. The market for Implantable medical devices driven by technological advances in implants like multifocal intraocular lens technology and rising awareness about aesthetics among young patient population expected to fuel the market for Implantable medical devices over a period of forecast. Rising awareness about facial implants, increase in beauty consciousness, unhealthy lifestyles, and inclination towards body fitness, growing technological advancements, and growing adoption of aesthetic surgeries are the few other factors which are propelling the growth of the global Implantable medical devices. Furthermore, market players launched new advanced products, with the light of the advancements Implantable medical devices market is expected to grow at significant rate over the forecast period. However, potential side effects or damage associated with the use implants, the dearth of a skilled workforce to perform the implantation procedures, high cost associated with the treatment are the few factors hamper the growth of Implantable medical devices market.
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Market Scope: Implantable Medical Devices Market
Implantable Medical Devices market is segmented based on the type, material, end user and geographical regions
Based on the type, the market is segmented into the following:
• Cardiovascular Implants
• Orthopeadic Implants
• Gyneac Implants
• Cochlear Implants
• Ophthalmic Implants
• Facial Implants
• Breast Implants
Based on the material, the market is segmented into the following:
Based on the end user, the market is segmented into the following:
• Specialty Clinics
• Ambulatory Surgical Centers
Based on the geographical regions, the market is segmented into the following:
• North America
• Asia Pacific
• Latin America
• The Middle East and Africa
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Market Summary: Implantable Medical Devices Market
Global Implantable Medical Devices market is highly fragmented with several local and international players offering different implantable products in the marketplace. Players or service providers in the Implantable Medical Devices market are coming up with a customized solution that addresses the patient requirements. Players in Implantable Medical Devices market are developing newer designs which are influenced by viscoelastic technology and others to gain larger market revenue share in the Implantable Medical Devices market. Moreover, end users in the market continuously working towards educating the patients regarding implantation surgeries and post-surgery precautions.
Regional Analysis: Implantable Medical Devices Market
Geographically, global Implantable Medical Devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America and Europe is expected to have major market share in Implantable Medical Devices market due to the presence of a large number companies manufacturing implantable devices, technological advancements, growing elder population and increase in the adaptation of advanced implant systems and well-established infrastructure. Asia Pacific represents a vast population with an unmet need in the various diseases treatment of aging people, demographic and lifestyle changes coupled with the highest number of aging population is anticipated to bolster the implantable medical devices market in Asia Pacific during the forecast period.
Competition Assessment: Implantable Medical Devices Market
Some of the players in the global Implantable Medical Devices market include:
• Abbott Laboratories (U.S.)
• Medtronic plc (Ireland)
• Boston Scientific Corporation (U.S.)
• LivaNova PLC (U.K.)
• BIOTRONIK SE & Co. KG (Germany)
• Cochlear Limited (Australia)
• Sonova Holding AG (Switzerland)
• MED-EL (Austria)
• Nurotron Biotechnology Co., Ltd. (China)
• William Demant Holding A/S (Denmark)
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Notable market developments: Implantable Medical Devices Market
• In September 2017, DePuy Synthes launched TRUMATCH Titanium 3D Printed implants for facial reconstruction in US.
• In April 2015, the U.S. FDA approved the Kamra Corneal Inlay, the first small aperture corneal implantable device for correction of near vision in patients who have not had cataract surgery.
Key Features of the Report:
• The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
• The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
• The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
• The report tracks recent innovations, key developments and startup’s details that are actively working in the market
• The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
• The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
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