Medical Implants Market to Reach Valuation US$ 137.5 BN by 2029

According to Precedence Research, the medical implants market size is poised to grow at a CAGR of 5.4% during the forecast period and to reach valuation US$ 137.5 billion by 2029.

 Growth Factors

The prominent factors that are contributing to the growth of the global medical implants market are surging geriatric population, rising preference for cosmetics dentistry, growing burden of various chronic diseases, and technological advancements in the medical implants devices. According to the United Nations, the global geriatric population is projected to reach around 2 billion by 2050. The increasing life expectancy rates and decreasing number of births across the globe is resulting in the surging geriatric population.

Get the sample copy of report@ https://www.precedenceresearch.com/sample/1407

The growing incidences of accidents, trauma, dental disorders, and orthopedic diseases are contributing to the rising demand for replacement and support of joints, bones, and other body tissues. The improved access to the advanced healthcare facilities and the rising awareness regarding the availability of technologically advanced implants such as pectoral implants, breast implants, deltoid implants, cochlear implants, and dental implants are propelling the demand for the medical implants across the globe. Moreover, the rising concerns among the population regarding their aesthetics and appearances is fostering the growth of the global medical implants market.

Report Highlights:

• Based on the product type, orthopedic was the dominating segment in the global medical implants market in 2020. The extensive use of the orthopedic implants to replace and support damaged bones and joints has fueled the growth of this segment. The rising incidences of trauma, road accidents, and orthopedic disorders is significantly contributing to the growth of the orthopedic segment. Mo0reover, the rising demand for the elbow joint replacement surgeries owing to the rising prevalence of rheumatoid arthritis is among the top drivers of the orthopedic medical implants. As per the Arthritis Report UK, approximately 17.8 million individuals were suffering from a musculoskeletal condition in 2018.

• On the basis of biomaterial, the metallic segment led the global medical implants market in 2020. The rising number of road accidents and trauma cases across the globe coupled with the rising adoption of the minimally invasive surgeries is fostering the demand for the biomaterial medical implants. The higher compatibility of the biomaterials in the bones and joints has exponentially propelled the growth of the biomaterial medical implants across the globe.

• North America was the leading medical implants market in 2020. The higher prevalence of various chronic diseases, presence of high geriatric population, increased awareness regarding the modern and advanced healthcare facilities, increased popularity of the minimally invasive surgeries, high healthcare expenditure, and presence of developed healthcare infrastructure are the most prominent factors that have great contributions in the growth of the North America medical implants market. As per the American Academy of Implant Dentistry (AAID), about 3 million individuals in US have dental implants every year and this number is expected to grow by 500,000 per year.The growing adoption of the cosmetic dentistry owing to the growing cases of dental disorders is further fueling the growth of the medical implants market in North America.

• Asia Pacific is projected to be the fastest-growing market during the forecast period. The rising cases of rheumatoid arthritis and rising demand for the medical implants in the Asia Pacific region is driving the growth of the market. According to Australia Bureau of Statistics, approximately 458,000 individualshad rheumatoid arthritis. Furthermore, about 80% of the global geriatric population is expected to be living in the low and middle income countries. Therefore, the rapidly growing geriatric population in the region is expected to fuel the demand for the medical implants. Furthermore, around 93% of the road accidents occur in the low and middle income countries, as per the World Health Organization. The rising demand for the cosmetic dentistry and the rising investments in the development of healthcare infrastructure is propelling the growth of the Asia pacific medical implants market.

Ask here for customization@ https://www.precedenceresearch.com/customization/1407

Future of Medical Implants Market

The growing number of hospitals and surgical centers coupled with the growing demand for the surgical procedures among the consumers is expected to drive the growth of the global medical implants market in the foreseeable future. The rising consumer awareness regarding the availability of various types of medical implants is expected to surge the demand for the medical implants in the upcoming future.

COVID-19 Impact Analysis:

• The lockdown and travelling restrictions imposed during the COVID-19 pandemic resulted in the decline in the number of medical services across the globe. Only the emergency procedures were allowed to be performed and rest of the procedures were postponed or cancelled during the pandemic.
• The fear of getting infected with the COVID-19 diseases significantly reduced the hospital visits.

Key Developments in the Marketplace:

• In October 2020, Medtronic introduced its Adaptix Interbody System in US. Adaptix is a titanium implant characterized with the Titan nano-lock surface technology.

Click Here to View Full Report Table of Contents

Buy this Research Report@ https://www.precedenceresearch.com/checkout/1407

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333