Global Medical Implant Market is estimated to grow at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. Medical implants imply devices/tissues placed on/inside the body. Majority of the implants are prosthetics (replacing missing body parts).
The factors that propel the growth of the Medical Implant Market include increased disposable income and consciousness about aesthetic value of teeth, and growing demand for Absorbable Heart Stents. On the other hand, there are factors that may hamper the growth of the market including high price of medical implants, insufficient compensation policies, and post/during operation difficulties.
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Medical Implant Market could be explored by type, materials, and geography. Medical Implant Market may be explored by Type as [Orthopedic Implant (Spine, Hip, Knee), Cardiac Implant (Coronary Stent, Pacemaker,), Neurostimulators (Sacral Nerve, Vagus Nerve Spinal Cord, Deep Brain)]. The “Neurostimulation” segment led the Medical Implant Market in 2016 and is anticipated to maintain its dominance by 2022 owing to increasing consumer consciousness, innovative technical developments, growing neurological illnesses in the aged populace, profitable products, rising FDA supports for clinical trials, growth of progressive implantable neurostimulation devices.
Medical Implant Market could be explored based on materials as Polymers Biomaterials, Ceramic Biomaterials, Natural Biomaterials, and Metallic Biomaterials. Medical Implant Market is categorized based on geography into North America, Latin America, Japan, Middle East and Africa, Western Europe, Asia Pacific, and Eastern Europe. North America accounted for the major share of the Medical Implant Market Size in 2016 and will continue to lead in the forecast period. This is owing to developments in medical skills, rising aged population, growing occurrence of chronic diseases, increase in health care spending, and enhanced health care organization in the region. North America is followed by Asia-Pacific region.
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The key players contributing in the robust growth of the Medical Implant Market comprise Johnson & Johnson, Medtronic plc, Stryker Corp., St. Jude Medical, Inc., Zimmer Biomet Holding, Inc., Edwards Lifesciences Corp., Boston Scientific Corp., Straumann Holding AG, Abbott Laboratories, Osstem Implants Co. ltd., Neuropace, Inc., and Smith & Nephew. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Medical Implants are medical devices or tissues that are surgically transplanted inside the body. These implants are used to replace any damaged body organs to enhance function of body organ, and also detect errors in normal body function. The global medical implant industry report analyzes the global markets for medical implants across all the given segments on global as well as regional levels presented in the research scope.
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