Medical implants are man-made devices or biomedical tissues surgically transplanted either into the body or on the surface of the body. Majority of implants are prosthetic, designed for replacing missing or damaged body parts whereas other implants are designed either to deliver certain drugs into the body or to provide extra support to organs. These implants are transplanted either on permanent or temporary basis and can be detached from body whenever required. For instance, stents and hip implants are transplanted on permanent basis whereas screws which are used to repair broken bones can be removed when they are no longer needed. Depending on part of the body on which implant is used, implants are of different types such as dental implants, cardiovascular implants, brain implants, spine implants, orthopedic implants, and cosmetic implants to name a few.
Increasing geriatric population, growing incidence of chronic diseases (such as respiratory diseases, cardiovascular diseases, and endovascular diseases), and rising demand for technologically advanced products (such as bio absorbable stents) are set to drive the medical implants market. Increasing awareness among people about advantages of medical implants to improve quality of life will lead to increase adoption of these implants in coming years. Furthermore, rapidly evolving healthcare infrastructure especially in emerging economies such as India and China will drive the market. However, inadequate insurance coverage policy, high cost of implants, and strict approval guidelines for medical implants is expected to hamper the market growth.
There has been rapid increase in demand for cardiovascular implants owing to rise in prevalence of cardiovascular disorders. Cardiovascular disorders are conditions characterized dysfunctional of heart and blood vessels. These diseases are mainly caused by high cholesterol level, excessive smoking, and unhealthy lifestyle habits. According to a study conducted by American Heart Association in 2017, around 92.1 million American adults are living with some or other type of cardiovascular condition. These diseases can be prevented either through drugs or by use of advanced implantable devices such as pacing devices (CRT with pacemaker function), stents (bioabsorbable stents) and structural cardiac implants (biventricular assist devices). These implants are transplanted in heart or blood vessel to restore normal functioning of heart. For instance, pacemaker is used to regulate irregular heartbeats by using electrical pulses from small device placed on chest or abdomen to improve heartbeats.
Another major application of these implants is used in treating orthopedic injuries to replace fractured or missing bones. Orthopedic injuries are injuries to bone, muscle or joint due to accident, trauma or severe illness. These implants are made up of stainless steel and titanium alloys that act as artificial cartilage for giving support to damaged bone. Although majority of implant manufacturers still depend on traditional coatings for implants, however, new technologies are being developed to improve overall efficiency of orthopedic implants.
Neurostimulators is another segment witnessing rise in demand owing to increasing prevalence of neurological disorders. Neurostimulators are implants used to regulate or modify neural activities either by using invasive or non-invasive methods. These implantable devices work either by stimulating nerve cells or by stopping pain signals to reach various target sites (such as central nervous system and peripheral nervous system). Developments such as injectable neurostimulators (which are under clinical trial) will provide growth opportunities for the market players in coming years. These implants are used to minimize complications such as discomfort, high risk of infections and post-surgery trauma associated with the use of traditional neurostimulators. Moreover, there will be surge in demand for facial implants due to increase in number of aesthetic procedures performed annually and rise in geriatric population requiring aesthetic facial implants for body shaping and tightening. According to a study conducted by International Society of Aesthetic Plastic Surgery (ISPAS) in 2015, around 31,337,924 aesthetic/ cosmetic procedures were performed worldwide escalating demand for facial implants.
Some of the major players operating in the global market include Medtronic plc., Zimmer Biomet, Stryker Corporation, Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson, Institut Straumann AG, Dentsply Sirona, Edwards Lifesciences Corporation, Orthofix International, Smith & Nephew plc., and Tornier N.V.
Global Medical Implant Market Segmentation:
By Product Type
- Reconstructive Joint Replacements
- Knee Replacement Implants
- Hip Replacement Implants
- Craniomaxillofacial and Trauma
- Pacing Devices
- Cardiac Resynchronization Therapy Devices (CRTs)
- CRT with pacemaker function
- CRT with pacemaker and ICD function
- Implantable Cardioverter Defibrillators (ICDs)
- Subcutaneous Implantable Cardioverter Defibrillator
- Transvenous Implantable Cardioverter Defibrillator
- Bioabsorbable Stents
- Drug-eluting Stents
- Bare-metal Coronary Stents
- Synthetic Grafts
- Vena Cava Filters
- Structural Cardiac Implants
- Mechanical Heart Valves
- Implantable Ventricular-assist Devices
- Left Ventricular Assist Device
- Right Ventricular Assist Device
- Biventricular Assist Device
- Interbody Fusion Devices
- Thoracolumbar Devices
- Cervical Fixation Devices
- Spinal Electrical Stimulation
- Vertebral Compression Fracture Devices
- Motion Preservation Devices
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Vagus Nerve Stimulation
- Other Neurostimulators
- Intraocular Lens
- Glaucoma Implants
- Facial Implants
- Breast Implants
- Dental Implants
- Plate Form Dental Implants
- Root Form Dental Implants
- Metallic Biomaterials
- Ceramic Biomaterials
- Polymers Biomaterials
- Natural Biomaterials
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Saudi Arabia
- United Arab Emirates
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.
Data Collection Matrix
Data Collection Matrix
Primary Data Sources
- Distributors & Wholesalers
- Healthcare Providers
Secondary Data Sources
- Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
- Government/Associations Publications
- Case Studies
- Reference Customers
Market Modeling and Forecasting
We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.
- Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
- Number of patients for particular device or medical procedure and
- Repeated use of particular device depending on health and condition of patient
- Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.
We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.
We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.
Quantitative Data (2017-2025)
- Market Dynamics (Drivers, Restraints, and Challenges)
- Industry Trend Analysis
- Market Opportunities
- Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
- Porter’s Five Forces and PESTLE Analysis
- Key Developments and Competitive Landscape
- Market Assessment and Forecast
- Market Assessment and Forecast, By Product
- Market Assessment and Forecast, By Technology
- Market Assessment and Forecast, By Application
- Market Assessment and Forecast, By End User
- Market Assessment and Forecast, By Region/Country