According to the latest report by BIS Research, titled ‘Global Next Generation Implants (NGI) Market –Analysis and Forecast (2017-2023)', the global next generation implants market is estimated to grow over $3.9 billion by 2023. On the other hand, the conventional implants market is estimated to grow over $103 billion in 2023. On the basis of application, the market is segmented into orthopedic, cardiovascular, dental, ocular and other implants.
The medical implants market is a large market for implants for various applications. As the world population is aging, the prevalence of age related degenerating diseases is increasing. As per World Health Organization (WHO), the number of people aged 60 years & above will rise to 1.4 billion by 2030. Due to increase in the geriatric population & improved life expectancy, the number of age related diseases has also increased.
Medical implants are devices that are used to insert or graft into a patient's body to function as a part or whole organ. As per U.S. FDA, an implant can be defined as a device or tissue that can be placed inside or on the surface of the body. These devices provide support to the existing organs or replace them or substitute the missing parts. Some implants are permanent in nature & stay lifelong in the patient's body while others may be temporary.
The permanent implants include stents, pacemakers, heart valves. Temporary implants are removed when no longer needed such as screws. Some of these provide structural & functional support such as cardiac valves, and joint replacement implants, while others can be life sustaining systems such as implantable pacemakers & defibrillators. The younger population is also a consumer group of these implants due to lifestyle changes. The increased prevalence of obesity, physical inactiveness, and increased consumption of fast food are also contributors to such diseases & hence add to the demand for implant devices.
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As per the raw material, the metals and its alloys are dominating the conventional implants market with an estimated value of $25 billion in 2016. North America was estimated to be the leader in 2016 in conventional implants with a market value of $30 billion in 2016 mainly due to rising geriatric population and increased prevalence of diseases. The fastest growing market is expected to Asia Pacific with a CAGR of 8.7% from 2017 to 2023.
The purpose of the study is to gain a holistic view of the global medical implants market in terms of various factors influencing it such as recent trends, technological advancements, and regulatory aspects of the market. The scope of this report is centered upon conducting a detailed study of the solutions allied with the medical implants market including conventional and next generation implants. The market has been segmented into ‘application', ‘raw material' and ‘geographical regions'.
Few Companies Mentioned in the Report:
• Smith & Nephew plc
• Orthofix Holdings, Inc.
• Medtronic Public Limited Company
• LivaNova PLC
• Edwards Lifesciences Corporation
• Globus Medical Inc.
• Johnson & Johnson
• Zimmer Biomet Holdings Inc.
• Abbott Laboratories
• Biotronik SE & Co. KG
• BOSTON SCIENTIFIC CORPORATION
• C. R. BARD, INC.
• DANAHER CORPORATION
• DENTSPLY SIRNA Inc.
• ENDO INTERNATIONAL PLC
• Integer Holdings Corporation
• Integra LifeSciences Corporation
• Institut Straumann AG
• LifeNet Health, Inc.
• Novartis International AG
• NUVASIVE, INC.
• STRYKER CORPORATION
• SYMETIS SA
• TERUMO CORPORATION
• W. L. Gore & Associates, Inc.
• Wright Medical Group N.V
Key questions addressed in the report:
• What are the major market drivers, challenges and opportunities in the global next generation implants market and their case studies
• How the medical implants market evolve and what is its scope in the future?
• What is the market share of the leading segments and sub-segments of the global next generation implants market in 2016 and 2023?
• How will each segment of the global next generation implants market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2023?
• What are the influencing factors that may affect the market share of the key players?
• How will the industry evolve during the forecast period between 2016 and 2023?
• What are the key developmental strategies implemented by the key players to stand out in this market?
• What will be the growth rate of different segments during the forecast period? Which is the leading segment by application and raw material used?
• Who are the key players for the next generation of implants market?
• How has the market been segmented on the basis of application?
• Which geographical location will dominate the next generation implants market?
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