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Implantable Medical Devices Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-07 

Implantable Medical Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Aided with numerous technological innovations and the development of novel products, the global implantable medical devices market is projected to witness a lucrative rate of growth over the forthcoming timespan. Growing aging population as well as rising occurrence of a multitude of cardiological and neurological disorders across the globe would result in substantial number of patients needing implantable medical devices.

As per reports by the Centers for Disease Control and Prevention, a person dies every second from some kind of cardiovascular disorder in the United States. Furthermore, some disorders cannot be alleviated through medication alone, as a consequence, implantable medical devices which provide faster recovery and better results are being rapidly adopted.  Thousands of people are improving their quality of life by adopting implantable medical devices through surgical procedures, which would further contribute in the market growth considerably over the projected timeline.

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Additionally, prominent market players are adopting new technologies as well as right surface materials, in order to eliminate recall rates and provide effective methods of treatment to patients, thereby accelerating the customer preference towards the implantable medical devices market.

Moreover, consequent approvals from FDA for implantable medical devices would further impact the market share.

As per a research report by GMI, global implantable medical devices market is estimated to surpass $138.5 billion by 2025.       

Speaking of the product segment, increasing size of demographic of people diagnosed with cardiovascular diseases globally is majorly driving the cardiovascular implantable medical devices market share.

The segment accounted for approximately 26.0% of the total revenue size in 2018. In fact, as per the WHO (World Health Organization), cardiovascular disorder is the main cause of death globally, and this number is likely to surpass 23 million by 2030, propelling the need for cardiovascular implantable medical devices.

Some of the cardiovascular implantable medical devices like artificial heart valves, coronary stents, pacemakers, and other devices have helped save several lives and also have enhance the quality of life for millions of people.

Cardiovascular diseases exert extensive burden on countries, which is why several subsequent steps are being taken to deliver better healthcare services to patients and decrease the mortality rate. To that end, growing awareness among people regarding these medical devices should further magnify their demand over the coming years.   

Apart from cardiovascular devices, therapeutic implantable medical devices are likely to positively impact the global implantable medical devices market size. The segment accounted for more than $89 billion in 2018. Increasing obesity rates that further lead to organ failure, increasing instances of chronic disorders, surging road accident cases, and some other factors are augmenting the segment share in implantable medical devices industry outlook.

Therapeutic medical devices help heal or repair a disorder or an injury. Joint reconstruction, pacemakers, breast implants, stents, and spinal devices are few of the therapeutic implantable medical devices that are used extensively throughout the globe.  

On the geographical front, APAC implantable medical devices market is slated to witness heavy growth, and India is earmarked to lead the regional market share through the forecast timeframe. The country is slated to grow at a CAGR of more than 10.3% through 2025.

Increasing instances of chronic diseases, road accidents, and rising level of awareness among people regarding medical implants are some of the major factors proliferating the market trends in the region. Furthermore, India falls under the category of emerging nations in terms of technology and economy, which is impelling the growth of implantable medical devices significantly.

Additionally, major medical companies have established a local presence in the region by acquiring smaller companies or establishing a new footprint, thereby growing the overall industry share in the region. 

The competitive landscape of the implantable medical devices market is inclusive of players such as Cochlear, Abbott Laboratories, Boston Scientific Corporation, Allergan, Zimmer Biomet, and Medtronic among others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/implantable-medical-devices-market

Partial Chapter of the Table of Content 

Chapter 5. Implantable Medical Devices Market, By Type

5.1. Key segment trends

5.2. Therapeutic

5.2.1. Market size, by region, 2014-2025 (USD Million)

5.3. Diagnostic

5.3.1. Market size, by region, 2014-2025 (USD Million)

Chapter 6. Implantable Medical Devices Market, By Nature of Device

6.1. Key segment trends

6.2. Active

6.2.1. Market size, by region, 2014-2025 (USD Million)

6.3. Static/Non-active/Passive

6.3.1. Market size, by region, 2014-2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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