The Global Medical Implants Market is expected to rise at a stable CAGR of 7.07% over the forecast period from 2017 to 2023, according to the latest market research report from Market Research Future (MRFR). The global medical implants market is mainly driven by the growing awareness about medical implants among patients and the growing healthcare expenditure in developed countries.
Medical implants are among the cutting-edge technologies currently used in the healthcare sector and are used to replace lost body parts with synthetic alternatives. Advances in materials and implantation technologies have led to the development of safe and effective implants that can take the place of body parts with ease.
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This is likely to be the major driver for the global medical implants market over the forecast period, as gaining an edge in terms of technological innovation is likely to remain a major strategy for market players in the global medical implants market over the forecast period.
Global Medical Implants Market: Competitive Landscape
MRFR in its report has profiled some of the key players operating in the global market for Medical Implants, which include:
- Boston Scientific Corporation
- Johnson & Johnson Services Inc.
- Institut Straumann AG
- Zimmer Biomet Holdings
- Dentsply Sirona
- Smith & Nephew
- Stryker Corporation
- 3M and Medtronic.
Global Medical Implants Market: Segmental Analysis
The global medical implants market is segmented on the basis of type, type of material, end user, and region.
On the basis of type, the global medical implants market is segmented into orthopedic implants, cardiac implants, spinal implants, dental implants, ophthalmic implants, cosmetic implants, and others. Orthopedic implants hold a dominant 31% share in the global medical implants market and are likely to remain the dominant segment over the forecast period in spite of the cardiac implants segment exhibiting growth at the highest CAGR of 7.63% over the forecast period.
On the basis of type of material, the medical implants market is segmented into metallic materials, ceramic materials, polymers, and others.
On the basis of end use, the global medical implants market is segmented into hospitals & clinics, research laboratories, and others.
Global Medical Implants Market: Regional Analysis
The region wise analysis of the medical implants market indicates that the Americas region controls the medical implants market globally due to the growing occurrence of patients suffering from damaged body organs, development in surgical outcomes, the incidence of strong economic conditions, and concentration of research institutions on updating technology for new and progressive medical implants devices. The European region has established itself in the second position in the market due to growing support from the government, and the existence of huge geriatric population base, and intensive healthcare spending. The Asia Pacific region is a rapidly increasing market due to a rise in the number of developing countries present in this region, for instance, countries like China and India. These nations are inspiring the growth of the medical implants devices in this region. The Middle East & Africa region is anticipated to hold the smallest market share is owing to restricted availability to medical facilities and slower development pace in the healthcare domain. However, nations such as Kuwait and Qatar are concentrating on more healthcare and emerging medical facilities, which is assessed to boost the market of this region.
To know More Updates Related Report Visit @ https://www.medgadget.com/2019/01/cardiac-implants-market-is-anticipated-at-an-optimistic-cagr-of-7-2-till-2023-along-with-abbott-laboratories-medtronic-plc-b-braun-melsungen-ag-thoratec-corporation-etc.html
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