Artificial Implants Sale Is Predicted to Reach US$ 260 Billion By 2032; Cardiac Implants Segment Grows with 7% CAGR | Fact.MR
24 Oct 2022
Acquisition
Increasing Elderly Population, Surging Applications of Artificial Implants To Replace Missing Biological Structures, Growing Awareness of Implantable Technologies Among Patients & Doctors, High Usage of Prosthetic Implants, And Rapid Adoption of Metallic Implants Are Factors Driving Market Revenue Growth
NEW YORK, Oct. 24, 2022 /PRNewswire/ -- The global artificial implants market is estimated to expand at 5.6% CAGR and reach a
valuation of US$ 260 billion by 2032, as per industry analysis by Fact.MR, a market research and competitive intelligence provider.
Most parts or functions of the body can be supplemented or replaced by artificial implants. There has been a noticeable growth in the number of elderly persons globally in recent years. Numerous chronic diseases are more likely to affect senior folks. Dental disorders, endovascular illnesses, orthopedic disorders, and cardiovascular diseases are a few of these conditions. They are likely to contribute to a rise in the usage of artificial implants, such as artificial joints, eyes, and kidneys.
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Demand for artificial implants, which are substitutes made with both mechanical and robotic components that are used as prosthetics to replace broken body parts such as the hands, legs, and limbs, is growing along with the number of disabilities. Cardiac implants are mechanical circulatory support systems that support the circulation of blood from the heart to the body's other organs.
Huge demand for cosmetic dentistry and technological advancements in artificial implants are the main drivers for market expansion. Neurological and sensory implants are used to treat various neurological conditions as well as diseases affecting the brain and the main senses. Dental implants are the only option for replacing a missing tooth permanently.
The industry is evolving rapidly as a result of the increased knowledge of the benefits of dental implants. Due to this, the dental implants sector is receiving a rising number of research grants for the development of novel implant designs and other developments that will help solve ongoing difficulties relating to implants.
Key Takeaways from Market Study
The global artificial implants market is currently valued at US$ 150 billion.
Market in Japan is projected to progress at a CAGR of 2.5% over the forecast period (2022-2032).
Sales of knee implants are forecasted to expand at a CAGR of 3% from 2022 to 2032.
Market in Germany is set to increase at a CAGR of 3.5% through 2032.
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Leading companies are working to boost their revenue share in the market by developing novel products. Major market participants can increase their geographic reach and their current product portfolio through mergers and acquisitions.
For instance:
In 2022
, Impulse AM, a posterior interbody fusion implant made of porous titanium and created via 3D printing, was introduced by DeGen Medical, Inc., a spinal implant firm that specializes in augmented reality and patient-specific therapies.
DePuy Synthes Companies
Winning Strategy
Key manufacturers of artificial implants are putting great emphasis on product innovation to improve their brand portfolio, boost their presence, and meet consumer needs.
In 2021, to help ambulatory surgical centers (ASCs) and hospitals become more financially sustainable, Orthopedic Implant Company introduced its wrist fracture plating technology, the DRPx System, which received Food and Drug Administration approval.
More Valuable Insights
on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global artificial implants market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product type (cardiac implants, spinal implants, knee implants, hip implants, dental implants, cochlear implants), biomaterial (metallic, ceramic, polymers & natural, others), and end user (hospitals, clinical research institutions, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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Segments of Artificial Implants Industry Research
By Product Type :
Cochlear Implants
By Biomaterial :
Metallic
Ceramic
Others
By End User :
Hospitals
Others
By Region :
North America
Europe
Latin America
Middle East & Africa
Browse Latest Healthcare Industry Reports By Fact.MR
Artificial Eyes Market: Recent developments in the field of artificial eyes are expected to trigger an evolution, with continuous redesigns and redevelopments for achieving excellent satisfaction levels and outcomes for patients.
Artificial Heart Market: The global market for artificial heart is expected to generate significant revenue with huge growth over the forecast due to the rise in the aging population, which in turn drives the high demand for artificial heart in the healthcare sector.
Artificial Organs Market: Demand for artificial organs is likely to grow significantly owing to the rise in lifestyle diseases that lead to the need for organ transplantation in particular for the heart and kidneys.
Artificial Iris Market: Due to the increasing demand for artificial iris implants in the North American region manufacturers are mainly focused on clinical trials and the development of new iris implants to take advantage of the current market opportunity.
About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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