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Medical Implants Market

Medical Implants Market: Information by Product (Orthopedic Implants, Cardiovascular Implants), Biomaterial Type (Metallic Biomaterials, Ceramic Biomaterials), and Region — Forecast till 2030

Published At : 06 Sep, 2022
Updated At : 07 Sep, 2022
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Market Snapshot
Base Year:
2021
Study Period:
2020-2030
CAGR:
7.5 %
Fastest Growing Market:
Europe
Largest Market:
North America

The global medical implants market size was valued at USD 96,006 million in 2021, presumed to reach USD 171,225 million, expanding at a CAGR of 7.5% during the forecast period. A medical implant is a piece of artificial tissue or a medical gadget surgically implanted into a patient's body. These implants replace or support damaged organs to restore normal physiological function. They can be permanently or temporarily implanted and withdrawn when no longer needed. Numerous implants are designed to replace missing bodily parts. Other implants administer medication, monitor physical activities, and support organs and tissues. Some implants comprise bone, tissue, skin, ceramics, metals, polymers, and other organic substances. They can be used to replace body components such as the hips or knees, give medication for pain treatment, monitor and regulate bodily functions such as the heart rate, and support organs and tissues. Some implants, like surgical meshes and stents, are designed to give structural support and are inert.

Implants may be inserted permanently or removed when no longer required. Through advances in science and technology, particularly in microelectronics, biotechnology, and materials, implantable medical devices and systems have progressed. The expansion of the global market for medical implants is attributable primarily to an increase in the frequency of chronic diseases and a jump in the number of people who are fast aging. In addition, growing awareness of medical implants and technological breakthroughs in medical implants contribute to the market's expansion. However, high implantation costs and a lack of competence are among the factors inhibiting the growth of the medical implant market.

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Market Dynamics

Global Medical Implants Market Drivers

The Rising Geriatric Population and Prevalence of Chronic Illnesses

The global demand for medical implants is anticipated to expand due to the increasing prevalence of chronic diseases and the burgeoning geriatric population. Based on research by the National Institutes of Health, the number of adults aged 65 and older was approximately 703 million in 2019 and is projected to reach 1.5 billion by 2050. This would represent 16% of the global population. As the population ages, chronic diseases such as cardiovascular disease, neuropathic disorders, old age-related injuries, and osteoarthritis become increasingly prevalent. The American Heart Association announced in 2013 that 70.2% of American men and 70.9% of American women between the ages of 60 and 79 suffer from cardiovascular problems. In addition, the World Health Organization (WHO) predicted that cardiovascular issues in China will increase by 50% between 2010 and 2030 due to the country's rapidly aging population.

In addition, the rise in the incidence of chronic diseases across all age groups as a result of lifestyle changes considerably adds to the expansion of the global market. In 2019, the World Health Organization reported that more than 1.13 billion individuals suffer from hypertension, the leading cause of heart failure. This causes an increase in the number of patients living with chronic conditions across the globe. Consequently, the increase in the elderly population and their susceptibility to chronic diseases promote the demand for various medical implants.

Global Medical Implants Market Restraints

Cost of Treatment Regarding Medical Implants

Procedures requiring medical implants, such as heart valve replacement, joint reconstruction, dental implant, and breast implant, are linked with a high price tag. In the United States, a total knee replacement without insurance can cost around USD 35,000. Even with insurance, out-of-pocket costs might still be substantial. In addition, the total cost of ICD implantation, which includes the device and hospitalization, can range from USD 30,000 to USD 40,000. These surgical procedures are more expensive if postoperative problems arise and the length of hospital stay rises. In addition to this, the price of the equipment increases as technology advances. Consequently, it is anticipated that the high cost of getting a medical implant will constrain market expansion.

Global Medical Implants Market Opportunities

Potential in Developing Markets

Asia-Pacific was home to almost 60% of the world's population in 2019, and its geriatric population is enormous; as a result, this area has tremendous growth potential. Due to healthcare infrastructure enhancements, medical implants, and cost awareness, Asia-Pacific's developing nations provide the lucrative potential for significant participants. The majority of emerging countries are implementing healthcare insurance for their citizens. In addition, there is a rise in the number of skilled healthcare workers who can educate patients on the advantages of medical implants. In tandem with this, implant technology is advancing, consequently enhancing their adoption. Therefore, expanding the medical implants market in Asia-Pacific and other developing nations is anticipated to benefit from the population increase, particularly the elderly population.

Segmental Analysis of Global Medical Implants Market

The global medical implants market is classified based on product, biomaterial type, and region.

Based on the product, the categories include cardiovascular implants, neurostimulators, spinal implants, ophthalmic implants, orthopedic implants, dental implants, breast implants, and facial implants.

The orthopedic implants section is envisioned to advance at a CAGR of 7.5% and hold the largest market share. Orthopedic implants are built to repair or support a bone or joint that is absent or injured. These are manufactured utilizing stainless steel and titanium alloys for strength, with a plastic coating that functions as synthetic cartilage. A spike in the proportion of elderly and a sedentary lifestyle contributes to the development of joint problems in the younger generation. In addition, the growth in obesity and the frequency of osteoporosis-related fractures across all age groups are anticipated to sustain the demand for orthopedic therapies. Increased awareness of the benefits of such surgeries on the quality of life, which has led to an easier proliferation of orthopedic implants, particularly in emerging nations such as India and China, significantly contributes to the expansion of the industry as a whole.

Cardiovascular implants will hold the second-largest share. Cardiovascular implants are

  • Implantable devices that can do defibrillation.
  • The pacing of the heart.
  • Cardioversion.

The global demand for cardiac implants will increase moderately and recover from a slowdown caused primarily by safety disputes and product recalls. The need for stents, associated implants, and structural cardiac implants is driven mainly by the decreased risk of problems and the technical advancement of designs.

Based on biomaterial type, the categories include Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, and Natural Biomaterials.

The metallic biomaterials section is envisioned to advance at a CAGR of 6.8% and hold the largest market share. Metallic biomaterials are manmade systems intended to offer internal support to biological tissues, and they are widely employed in joint replacements, dental implants, orthopedic fixations, and stents. The expansion of this market is driven by an aging population, an increase in research and development investments, a spike in applications of biomaterials, an increase in demand for plastic surgery, and payments granted by the Centers for Medicare & Medicaid Services. Moreover, strict regulations and procedures for approval of biomaterials and biomaterial-based implant devices, as well as limitations of biomaterials such as difficulties owing to implant rejection, cytotoxicity, and corrosion of biomaterials implants, hinder the market's growth.

The ceramic biomaterials section will hold the second-largest share. Ceramics are inorganic, non-metallic substances formed by heating and then cooling. These are utilized in dental and bone implant operations. The ceramic biomaterials find extensive use in total hip, knee, shoulder, elbow, and wrist replacements; bone plates, screws, and wires; intramedullary nails; permanently implanted artificial limbs; spinal fusion; alveolar bone replacements; mandibular reconstruction; and tooth replacement implants.

Regional Analysis of Global Medical Implants Market

The region-wise segmentation of the global medical implants market includes North America, Europe, Asia-Pacific, and LAMEA.

Medical Implants Market Regional Analysis

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North America and Europe will dominate the regional market

North America will dominate the market with the largest share while growing at a CAGR of 6.5%. The market expansion in North America is driven by an aging population, advantageous reimbursement rates, and an increase in the frequency of chronic illnesses among younger people. As per the National Health Council, over 133 million Americans, or more than 40% of the overall population, are affected by chronic diseases yearly. In addition, the development of new technologies through research and development is anticipated to expand the therapeutic options available to patients and surgeons, such as hydrocephalus valves and shunts, middle ear prostheses, prosthetic cervical discs, and transcatheter mitral valve replacement. Significant market trends include the creation of novel implants, minimally invasive operations, and mergers and acquisitions to obtain breakthrough technology and products.

The U.S. market for medical implants is anticipated to account for the largest share of the total regional market. This is due to the rise in the incidence of chronic diseases and the increase in the elderly population. According to WHO estimates, cardiovascular diseases (CVDs) were the leading cause of death worldwide in 2019. In the United States, approximately 10,55,000 people are impacted by heart failure. Additionally, 670,000 new cases of heart failure are reported annually in the United States. This increases the need for medical implants in the United States.

Europe will expand at a CAGR of 7.5% and hold USD 47,687 million. The growth reasons for the European market include an aging population and an increase in chronic disease prevalence. Positive clinical outcomes, a decline in product failure rates, emerging innovations, and growth in under-penetrated categories such as peripheral arterial disorders are driving the medical implants market's rapid expansion. Government actions to enhance the standard healthcare infrastructure and a heightened emphasis on healthcare expenditures enable European nations to prioritize providing high-quality healthcare. In addition, governments and dentistry organizations in Eastern Europe are actively promoting sophisticated dental treatments. Due to numerous industry vendors producing dental implants, the market is anticipated to have considerable expansion over the forecast period, consequently driving the growth of the medical implant market in Europe.

Keyplayers of the Market

  • BIOTRONIK
  • Boston Scientific Corporation
  • Conmed Corporation
  • Globus Medical, Inc.
  • Institut Straumann AG
  • Integra Lifesciences Holdings Corporation
  • Johnson & Johnson
  • LivaNova Plc
  • Medtronic Plc
  • Nuvasive, Inc.

Recent Developments

  • In 2022, Boston Scientific Corporation acquired Baylis Medical, Inc. 
  • In 2022, Conmed Corporation acquired In2Bones Global, Inc.

Global Medical Implants Market: Segmentation

By Product 

  • Orthopedic implants
    • Reconstructive Joint Replacements
    • Knee Replacement Implants
    • Hip Replacement Implants
    • Extremities
    • Orthobiologics
    • Trauma & Craniomaxillofacial
  • Cardiovascular Implants
    • Pacing Devices
    • Cardiac Resynchronization Therapy Devices (CRTs)
    • CRT-P (CRT with pacemaker function)
    • CRT-D (CRT with pacemaker and ICD function)
    • Implantable Cardioverter Defibrillators (ICDs)
    • Transvenous Implantable Cardioverter Defibrillator (T-ICDs)
    • Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)
    • Implantable Cardiac Pacemakers (ICPs)
  • Stents
    • Coronary stents
    • Drug-eluting stents (DES)
    • Bare-metal Coronary Stents
    • Bioabsorbable Stents
    • Peripheral stents
    • Iliac
    • Femoral-Popliteal
    • Renal
    • Carotid
  • Stent-related Implants
    • Synthetic Grafts
    • Vena Cava Filters
  • Structural Cardiac Implants
    • Mechanical Heart Valves
    • Implantable Ventricular-assist Devices
    • LVAD
    • RVAD
    • BIVAD
  • Spinal Implants
    • Spinal fusion implants
    • Spinal bone stimulators
    • Vertebral Compression Fracture (VCF) Devices
    • Motion Preservation Devices/Non-Fusion Devices
  • Neurostimulators
    • Deep Brain Stimulation (DBS)
    • Sacral Nerve Stimulation (SNS)
    • Vagus Nerve Stimulation (VNS)
    • Spinal Cord Stimulation (SCS)
    • Other neurostimulators
  • Ophthalmic Implants
    • Intraocular Lens
    • Glaucoma Implants
  • Dental Implants
    • Plate Form Dental Implants
    • Root Form Dental Implants
  • Facial Implants
  • Breast implants

By Biomaterial Type

  • Metallic Biomaterials
  • Ceramic Biomaterials
  • Polymers Biomaterials
  • Natural Biomaterials

By Region

  • North America 
  • Asia Pacific 
  • Europe
  • LAMEA
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