According to a recent study published by the Market Research Future analysts, the Global Medical Implant Market is growing at a moderate growth rate; mainly due to rise in the prevalence of the cardiovascular diseases leading to the failure of organs, increasing demand of the dissolvable materials for temporary implants, High demand for the dental implants due to the increased disposable income and awareness about aesthetic value of teeth, and increasing demand for Absorbable Heart Stents.
On the other hand, there are some obstacles in this market such as high cost of the devices, expensive implantation procedures, implant malfunctions, recent product recalls by the companies, erroneous outputs, and extreme pain felt by the patients upon implantation procedures. These all factors have affected the widespread acceptance of the implant devices, and hence hindering the growth of the overall medical implant market.
Medical Implants are the devices that mimic the natural movement of the organ and carry out its function. For example, newly developed flexible polymer implants. The advancements in technology such as development of flexible polymers and silicone material will drive the future market. Another development is the inclusion of electronic stimulators which stimulate the spinal implant. Similarly companies are coming up with latest products, some of which can be synchronised with our smart phones through the dedicated sensors.
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Global Medical Implants Market – Competitive Analysis
The market for medical implants is well established market with number of companies operating in this market. There are large number of companies involved in the development of the products, including the devices, sensors, and accessories for the various types of medical implants.
Medical Implants Market is huge and diversified among different therapeutic areas. Various companies are involved in the manufacturing of specific types of implants such as cardiac implants, dental implants, orthopaedic implants, spinal implants, and many others. These companies have adapted the strategies of the acquisitions, and launching of the new products in order to strive in this very big and competitive market.
In November, 2017 – After receiving FDA approval, Medtronic announced commercial launch for its next gen pacemaker portfolio of Azure(TM) pacemakers with BlueSync(TM) technology.
In November 2016, Straumann has entered a partnership with maxonmotor to develop ceramic components for dental implant systems that are produced by injection mouldinginstead of conventional cutting techniques.
In September 2016, Dentsply Sirona acquired MIS Implants Technologies Ltd to strengthen its dental implant business.
In April 2016 – Abbott Laboratories which has one of the most promising implant product, ABSORB GT, a bioresorbable vascular scaffold system, the company entered into an agreement of acquiring St. Jude Medical thus strengthening its position in the market for heart stents and other vascular devices.
In April 2016, Medtronic plc received FDA approval for world’s smallest pacemaker “Micra Transcatheter Pacing System (TPS)” for U.S. patients.
Global Medical Implant Market – Key Players
The global market consist of players such as Cardinal Health, Inc., Johnson & Johnson Limited Novartis International AG, 3M, Medtronic plc, Abbott, Danaher corporation, Boston Scientific Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc, Dentsply Sirona, C. R. Bard, Inc., Edwards Life-sciences Corporation, LivaNova plc, Integra Lifesciences Holdings Corporation, Nuvasive, Inc. Institut Straumann AG, Conmed Corporation, Wright Medical Group N.V., Biotronik SE & Co. KG, and others. These are some of the prominent players at the forefront of competition in the global medical implant market.
Global Medical Implant Market – Regional Analysis
The Americas dominate the global medical market owing to the presence of huge patient population suffering from cardiovascular diseases, & diabetes, increased number of people with orthopaedic diseases, and also the dental problems. Moreover, changing lifestyle, and increasing government support for research & development has also impacted on the growth of the medical implants market. Europe accounts for the second largest market for the medical implants, which is followed by Asia Pacific. European region has significantly captured the dental segment in the global medical implant market. Presence of the large number of dental companies, large patient pool, and highly developed dentistry business in this region. Asia Pacific is the fastest growing market owing to the huge population base, increasing prevalence of cardiovascular diseases, rapidly developing economies and presence of huge opportunity for the growth of the market. The Middle East & Africa has the least market share due to the presence of the poor economies in Africa region.
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