Medical Implant Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Type (Orthopedic, Cardiovascular, Spinal, Dental, Cosmetic, Other Implants); Materials (Metallic, Ceramic, Polymers, Others); End-Users (Hospitals, Clinics, Specialty Center); and Region & Country.

Pages:

184

Table:

41

Figure:

76

Report ID:

UMHE21245

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Medical implants are a distribution of medical devices that are placed on the surface or inside the body i.e., in-vivo. Implants can be prosthetics, used to replace missing parts of the body, whereas others can be used to deliver medication, provide support to organs and tissues, or monitor bodily functions. Implants are generally made of materials like metals, ceramics, polymers, etc. In 2017, approximately 100,000 hip replacements alone were carried out in Wales, England, and North Ireland, of this 80% of the patients were older than 60 years of age.

The increasing geriatric population and chronic illnesses are the key factors increasing the number of medical implants globally. Additionally, the increase in awareness among people about medical implants is also boosting the medical implant market. The governments and medical insurance companies are also aware of the growing industries and are creating policies and mediclaim to make reimbursements with medical implants easier. However, few major factors holding the growth of the market are the high cost of medical implants and efficient reimbursements policies across the globe.

Amid COVID-19, the manufacturing units of these medical implant devices are in shortage. The FDA recently published a list of devices which was unavailable during this pandemic. Furthermore, many non-essential healthcare facilities have come to a halt due to lockdowns and the burden of covid patients on the hospitals. Additionally, even the regulatory approvals in the EU and FDA are taking additional time during the pandemic to approve non-essential implant devices. All this has put a small halt to the industry’s growth.

Hip and Knee Implants Market, By Company, 2019

Abbott Laboratories, Novartis International AG, Orthofix International N.V., Johnson & Johnson Limited, Tornier N.V., Sorin S.p.A, Edwards Life-sciences Corporation, Smith & Nephew plc, Stryker Corporation, Boston Scientific Corporation are some of the prominent players operating in the global medical implants market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Type, Dental Implants holds the major share.”

Based on types, the medical implants market is bifurcated into orthopedic, cardiovascular, spinal, dental, cosmetic, and other implants. Sometimes medication is not enough to cure an illness, and, in those cases, implants are needed. Implants are most common in the elderly population and with the increase in the number of chronic diseases, there is an increase in the number of medical implants. New medical devices come out at a much higher rate than new medicines.

 “Amongst Material, Metallic is anticipated to grow at the highest CAGR during the analyzed period.”

Based on material, medical implants are segmented into metallic, ceramic, polymers, and others. The metallic implants segment generated revenue of US$ XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX billion by 2027F. Metal and metal alloys are mostly used in dental fillings and sometimes in body parts that are to be implanted for long periods. According to FDA, to check the safety of the medical device, all materials being used in the device need to be evaluated for safety.

“Amongst End-User, Hospital segment holds the major share”

Based on end-users, the medical implants market is fragmented into hospitals, clinics, and specialty centers. Most of the high-cost implantable devices are purchased by hospitals. Insurers do not directly pay for these medical devices, instead, they pay for the services i.e., surgery, supplies, nursing care, etc. In 2014, a medicare report states that hospitals spent US$ 14 billion on implantable devices and about US$ 10 billion on medical supplies.

“North America signifies one of the largest markets in Global Medical Implants Market”

For a better understanding of the market dynamics of the global medical implants market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America dominated the market and generated maximum revenue in 2020 owing to the increasing medical implant procedures and advanced healthcare infrastructure in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
  • The report presents a quick review of overall industry performance at one glance.
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
  • The study comprehensively covers the market across different segments.
  • Deep dive regional level analysis of the industry

Customization Options:

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1.1 Market Definitions
1.2 Objective of the Study
1.3 Limitation
1.4 Stake Holders
1.5 Currency Used in Report
1.6 Scope of the Global Medical Implant Market Study

2.1 Research Methodology for the Global Medical Implant Market
2.1.1 Main Objective of the Global Medical Implant Market

6.1 Orthopaedic Implants
6.2 Cardiovascular Implants
6.3 Spinal Implants
6.4 Dental Implants
6.5 Cosmetic Implants
6.6 Others

7.1 Metallic
7.2 Ceramic
7.3 Polymers
7.4 Others

8.1 Hospital
8.2 Physicians
8.3 Speciality Centres

9.1 NORTH AMERICA GLOBAL MEDICAL IMPLANT MARKET
9.1.1 United States
9.1.2 Canada
9.1.3 Rest of North America

9.2 EUROPE GLOBAL MEDICAL IMPLANT MARKET
9.2.1 United Kingdom
9.2.2 Germany
9.2.3 France
9.2.4 Spain
9.2.5 Italy
9.2.6 Rest of Europe

9.3 ASIA-PACIFIC GLOBAL MEDICAL IMPLANT MARKET
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Australia
9.3.5 Rest of Asia-Pacific

9.4 REST OF THE WORLD GLOBAL MEDICAL IMPLANT MARKET

11.1 Demand Side Analysis

11.2 Supply Side Analysis
11.2.1 Top Product Launches
11.2.2 Top Business Partnerships
11.2.3 Top Business Expansions, Investments and Divestitures
11.2.4 Top Merger and Acquisitions

14.1 Drivers
14.2 Challenges
14.3 Impact Analysis
14.4 Opportunity

15.1Global Medical Implant Market Share, by Company 2020

16.1 Abbott Laboratories
16.2 Novartis International AG
16.3 Stryker Corporation
16.4 Orthofix International NV
16.5 Johnson & Johnson Limited
16.6 Boston Scientific Corporation
16.7 Tornier NV
16.8 Sorin SpA
16.9 Smith & Nephew plc
16.10 Edwards Life-sciences Corporation

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global medical implants market were the three major steps undertaken to create and analyze the adoption of medical implants in different segments across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global medical implants sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the medical implants through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the global medical implants market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are type, material, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of medical implants in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of medical implants. Further, we conducted factor analysis using dependent and independent variables such as the increase in chronic illnesses due to lifestyle choices. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the medical implants industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global medical implants market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of medical implants across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global medical implants market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global medical implants market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material, and end-user of the global medical implants market.

Main Objective of the Global Medical Implants Market Study

The current & future market trends of medical implants were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global medical implants market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments.
  • Segments in the study include areas of type, material, and end-user.
  • Define and analysis of the regulatory framework for the global medical implants industry.
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
  • Analyze the current and forecast market size of the medical implants market for the major region.
  • Major regions studied in the report include North America (the United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and Rest of the World
  • Company profiles of the global medical implants market and the growth strategies adopted by the market players to sustain in the fast-growing market.
  • Deep dive regional level analysis of the industry