A recent report published by Infinium Global Research on implantable medical device market provides an in-depth analysis of segments and sub-segments in the global as well as regional implantable medical device industry

Pune, India -- (SBWire) -- 11/27/2019 --The Infinium Global Research analyzes the "Implantable Medical Device Market (Material - Naturals, Metal, Alumina Ceramics, and Polymer; Product - Cardiovascular Implants, Orthopedic Implants, Intraocular Implants, Breast Implants, Dental Implants, and Others; End-user - Ambulatory Surgical Centers, Hospitals, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". Implantable Medical Device Market was valued at USD 75.8 Billion in 2018 and is expected to reach USD 116.0 Billion by 2025, at a CAGR of 6.10% between 2019 and 2025.

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An implantable medical device is manufactured to support or replace any missing and damaged biological structure. This device helps many patients to boost their present biological structure also enhances the working of the body organs and improves the quality of life. This device can be implemented in the human body either temporarily or permanently with surgeries and can be removed when it is not required.

Surging Cardiovascular Diseases Fuel Demand for Implantable Medical Device

Increasing incidences of chronic diseases such as arthritis, heart failure, cancer and so on in which several types of implants are required for sustaining the life of a patient is driving the demand implantable medical device market. Cardiovascular Diseases are a major cause of death worldwide. As per an estimate by WHO 17.9 million people died from CVDs in 2016.  Intake of tobacco, inactive lifestyle and unhealthy diet resulting in obesity upsurge the risk of strokes and heart attacks. Implantable medical devices improve the quality of a patient's life. On the other side, the high cost connected with the implementation of these devices and limited insurance scheme the growth of the implantable medical device market. Further, advancement in 3D technology for implanting the devices will be creating a growth opportunity in upcoming years.

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Orthopedic Implants Sub-Segment Estimated to Hold Largest Shares in the Market

The implantable medical devices market is segmented into the material, product, and end-user. Based on the material the market is classified into naturals, metal, alumina ceramics, and polymer. Metal holds the major share in the market out of which titanium is the most preferred material used as an implementable medical device. Further, on the basis of product, the market is divided into cardiovascular implants, orthopedic implants, intraocular implants, breast implants, dental implants, and others. An orthopedic implant is estimated to be the largest market in terms of shares.

In addition to this, increasing incidents of accidents is boosting the growth of this market. As per a global status report launched by WHO on road safety highlights that the number of annual road traffic deaths has reached 1.35 million and this road traffic is the foremost reason for the death of aged 5-29 years. Besides, aged patients from 55-80 years going under orthopedic implant surgeries has increased and this factor supports the growth of the market. Based on end-users the market is bifurcated into ambulatory surgical centers, hospitals, and others.

Wide Spread of Awareness Regarding Implant Devices Drive the Region of North America

Among the geographies, North America dominated the global implantable medical devices market followed by the Asia Pacific. In North America region factors such as growing incidences of chronic diseases and increasing awareness regarding the use of these implantable devices drives the growth of the market. Further, in Asia Pacific region growing investment in the health care sector by government and increasing in the number of road accidents are boosting factors for the growth of implantable medical devices.

Implantable Medical Device Market: Competitive Landscape

The major key players in the global implantable medical devices market are Abbott Laboratories, Johnson & Johnson Services, Inc., Stryker Corporation, Conmed Corporation, Boston Scientific Corporation, Integra Lifesciences Holdings Corporation, Nuvasive, Inc., Biotronik SE & Co. KG, Cardinal Health, Inc., and Globus Medical, Inc. In January 2017, Abbott completed the acquisition of St. Jude Medical. Further, St. Jude Medical is one of the leading producers of cardio rhythm devices such as implantable defibrillators and pacemakers in the world. 

Read Detailed Index of full Research Study of "Implantable Medical Device Market"

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of the implantable medical device.

=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.

=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.  

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.