Global Implantable Medical Devices Market Report Anticipates The Market Value To Cross USD 154.8 BN By 2026
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The “Global Implantable Medical Devices Market Research Report – Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026” research study on Decisiondatabases.com gives an in-depth description of the growth trends, market drivers, opportunities and restraints of the global implantable medical devices market. The report expects the global implantable medical devices market to have a CAGR of 7.58% within the forecasted period between 2020 to 2026.
Medical implants are devices that are utilized to replace or act as a fraction for a particular body part or for the whole biological structure. Every year thousands of people enhance the quality of their lives by going through surgical procedures that involve the fixing or removal of implantable medical devices. Currently, implants are being used for various parts of the body for different functions such as orthopedics, pacemakers, cardiovascular stents, defibrillators, neural prosthetics or drug delivery systems. Implants are introduced either completely or partially via surgical or medical methods into the human body. The device can be implanted either permanently or temporarily, depending upon the requirement and can be removed later on.
The strong growth of consumers’ inclination towards body aesthetics and physical appearance has made cosmetic surgeries increasingly common thus driving the demand for implantable medical devices. Moreover, the advancements in technological innovations that enable an individual to enhance his/her beauty such as dental implants, pectoral implants, deltoid implants, thigh augmentation, breast implants, cochlear implants, etc. have added to the rise in the demand of these devices. Additionally, the rising occurrence of chronic diseases such as heart failures, arthritis, motor, sensory or cognitive modality, etc. that require various types of implants to sustain the life of a patient is also creating a positive impact on the growth of the market. Also, the growth in the geriatric population and the increase in the expenditure on healthcare have been identified as the key drivers of the global implantable medical devices market. However, the high costs of the implantable devices may hinder the growth of the global implantable medical devices market.
Based on product segmentation, the global implantable medical devices market has been classified into orthopedic implants, cardiovascular implants, dental implants, intraocular lens and breast implants. Orthopedic implants are further classified into reconstructive joint replacements and spinal implants.
By procedures, orthopedic procedures, breast augmentation and cardiovascular procedures are the segments of the global implantable medical devices market. Orthopedic procedures are further segmented into knee replacements, spinal fusion & fixation and fracture repair procedures. Cardiovascular procedures are further classified into stenting procedures and defibrillator implantations.
The implantable medical devices market is classified into North America, Europe and Asia Pacific based on geography.
The report also covers the competitive landscape of the global market with company profiles of players such as Abbott Laboratories, Alcon Laboratories, Biomet Incorporated, Bausch And Lomb Incorporated, Boston Scientific Corporation, Johnson And Johnson, Medtronic Incorporated, St. Jude Medical Incorporated, Smith And Nephew Plc, Stryker Corporation, Synthes Incorporated and Zimmer Holdings Incorporated. Besides, the report also covers information in terms of headquarters, inception, stock listing, upcoming capacities, key mergers & acquisitions, financial overview, and recent developments.
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