According To MRFR Global Medical Implants Research Report: Information by Type (Orthopedic Implants, Cardiac Implants, Spinal Implants, Dental Implants, Ophthalmic Implants, Cosmetic Implants and others), Type of Material (Metallic Material, Ceramic Material, Polymers Material and others), End User (Hospitals & Clinics, Research Laboratories and others) and Region - Forecast till 2023
Medical implants are devices which are inserted into the body for functionality, monitoring, diagnostic, and therapeutic purposes. With a stress on responsiveness and design, polymers have been fronted as the obvious choice for the manufacture of these devices. The global medical implants market report by Market Research Future (MRFR) elaborates on various factors, drivers, opportunities, and challenges for the period between 2018 and 2023 (forecast period).

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Market Outlook

The global medical implants sterile packaging market size is predicted to touch a top-notch value by exhibiting a CAGR of 7.50% during the forecast period. Rapid advances in scientific development, breakthroughs in materials, demand for better life, the large elderly populace, and chronic diseases are major factors which can drive market growth. Large number of diseases which can cause deficiencies will induce the demand for medical implants in the coming years.

Developments in nanomaterials and improvements in surgical outcomes can influence the global medical implants market demand. According to the FPA Sexual Charity in 2017, long-acting reversible contraceptive implants has been 99% effective with the immediate return of fertility after the removal of the device. Conduction of clinical trials for testing the efficacy and performance of medical implants to ensure rapid approval of the product can bode well for the market. Notable government initiatives such as the slashing of prices of medical implants in India can augur favorably for the global medical implants market.

Orthopedic implants are expected to gain tremendous traction due to osteoporosis-related cases and rising obesity. In addition, the large number of patients which opt for orthopedic implants are from the 55-80 demographic which can be lucrative for the global medical implants market. Moreover, emergence of 3D printing and computer-aided design (CAD) as possible solutions for doling out products at an expedited rate can make a positive impact on the market.

But the chances of failure of medical implants may dampen the market growth significantly.

Segmentation Analysis

The global medical implants market is segmented based on type, type of material, and end-user.

The global market for medical implants, by type is segmented into cosmetic implants, ophthalmic implants, orthopedic implants, cardiac implants, spinal implants, dental implants, and others.

The market, by type of material, is segmented into polymers material, ceramic material, metallic material, and others.

Based on end-user, the market is segmented into research laboratories, hospitals & clinics, and others.

Regional Analysis

The Middle East & Africa (MEA), Americas, Europe, and Asia Pacific (APAC) are major regions in the global medical implants market.

The Americas held a market share of 49.18% in 2017, followed by Europe and APAC. They are further divided into North America and South America. North America held a significant market share, while South America has the latent potential for explosive growth due to a large geriatric populace and the developments in healthcare infrastructure. Major factors driving the Americas medical implants market include the prevalence of chronic diseases, large number of surgeries, gigantic healthcare budget, and the ever-increasing numbers of the elderly populace.

The Europe region will be the second-biggest of the market with major contributions from Spain, Italy, France, U.K., and Germany. High healthcare spending, large geriatric populace, and supportive policies from the government.

The MEA region holds the least market share but is pegged to bloom during the forecast period. But the slow economic growth of certain countries in the African region can hamper the market growth.

Competitive Outlook

Stryker Corporation, 3M, Medtronic, Dentsply Sirona, Smith & Nephew, Zimmer Biomet Holdings, Inc., Institut Straumann AG, Boston Scientific Corporation, Johnson & Johnson Services, Inc., and others are reputed companies currently operating in the global medical implants market.

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