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Medical Implant Global Market – OverviewThe Global Medical Implant Market is growing with the rapid pace mainly due to the burgeoning Healthcare Industry. According to a recent study report published by the Market Research Future, The global market of Medical Implant is booming and expected to gain prominence over the forecast period. The global Medical Implant market is estimated to expand enormously up to USD 171.5 Billion with a whooping CAGR of 7.7 % between 2016 and 2023. In 2015, Global medical Implant market valued around US$ 94.5 billion.
Medical implants are devices or tissue that placed inside or outside the body to cure certain medical conditions. Medical implants are replacement of missing or damaged body part which supports or enhance an existing biological structure. These are mostly made up of metal, polymer and ceramic but some of them also contain electronics such as artificial pacemaker. Increasing number of orthopaedic patients and patient with heart diseases are driving the growth for the market. Number of dental treatment are leading the growth for dental implants while increasing cosmetic surgery is driving the growth for cosmetic implants. Increasing aging population, growing healthcare sector and technological advancement are the major drivers for the market.
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Key Players:
Boston Scientific Corporation
Dentsply Sirona
Institut Straumann AG
Johnson & Johnson Services
And more.
Medical Implant Global Market – Competitive Analysis
Characterized by the presence of well-established players; Medical Implant market appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Vendors are focusing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets.
Marketers employ a continuous improvement strategy to analyze and update the software, implementing improvements and launching new technologies to meet the changing needs of consumer. These manufactures develop a well-established infrastructure that allows seamless implementation of advanced technologies. They strive to develop unravel design and adept technology Heavy investments are transpired in R&D sector from the major players which is in turn helping the market to grow.
In view of growth and immense revenue generation opportunities potential that market is currently demonstrating is in turn attracting several new players to enter the market. However, those new entrants find it challenging to survive in the market with the introduction of new technologies.
Medical Implant Global Market – Segments
The Medical Implant Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Type: Comprises Orthopaedic Implant, Dental implant, Cardiac Implant, Cosmetic implants, and other.
Segmentation By Type of Material: Comprises Metal and metal alloys, Ceramic, Polymer, and other.
Segmentation By End User: Comprises Hospitals, Ambulatory Care Centres, Research centres and other.
Segmentation By Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Medical Implant Global Market – Regional Analysis
The Americas dominates the global medical implants market owing to the increasing prevalence of patients suffering with damaged body organs, improvement in surgical outcomes, presence of strong economic condition, and focus of research institutions on updating technology for new and advanced medical implants devices.
Europe holds the second position in the market owing to increasing support from the government, and the presence of huge geriatric population, and high healthcare spending. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014. France recorded the second highest level of current health care expenditure of EUR 237 billion.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and china. These countries are encouraging the growth of the medical implants devices.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare and developing medical facilities, which is expected to boost the market of this region.
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Release ID: 390913
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