Implantable Medical Devices Market Expected to Worth $179.03 Billion Globally by 2030 at a CAGR of 7.2%: Allied Market Research

Rising prevalence of chronic diseases coupled with rapid aging of the population, increase in cardiovascular and neurological diseases, and improvement in active implanted medical devices are driving the growth of the global implantable medical devices market.

PORTLAND, Oregon., April 14, 2022 /PRNewswire/ — Allied Market Research recently released a report titled,Implantable Medical Devices Market By Product (Orthopedic Implants, Cardiovascular Implants, Intraocular Lenses, Dental Implants, Breast Implants, Other Implants): Global Opportunities Analysis and Industry Forecast, 2020-2030.” According to the report, the global implantable medical device industry was worth $91.8 billion in 2020 and is expected to reach $179.03 billion by 2030, growing at a CAGR of 7.2% from 2021 to 2030. .

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Drivers, constraints and opportunities-

Rising prevalence of chronic diseases coupled with rapid aging of the population, increase in cardiovascular and neurological diseases, and improvement in active implanted medical devices are driving the growth of the global implantable medical devices market. On the other hand, the high cost of establishment and the lack of qualified professionals in the medical surgery industry are restraining the growth to some extent. However, increasing investments and funds to develop technologically advanced products are expected to create lucrative opportunities in the industry.

Impact of the COVID-19 Pandemic on the Implantable Medical Devices Market-

  • A sharp drop in demand for implant surgeries has negatively impacted the implantable medical device market, especially during the initial phase of the pandemic.
  • However, the market has already started to recover and should get back on track soon.

Get Detailed Analysis of Impact of COVID-19 on Implantable Medical Devices Market – https://www.alliedmarketresearch.com/request-for-customization/492?reqfor=covid

The segment of orthopedic implants takes the lion’s share.

Based on product, the orthopedic implant segment held the major share in 2020, generating more than a quarter of the global implantable medical device market. The dental implant segment, on the other hand, is expected to cite the fastest CAGR of 8.1% during the forecast period, owing to surging cardiovascular and neurological diseases and improvements in active implanted medical devices.

North America held the largest share

By region, the North American market accounted for the highest share in 2020, contributing more than two-fifths of the global implantable medical device market, owing to the increase in demand for implantable medical devices for the treatment of several illnesses and disabilities and availability of advanced healthcare facilities with qualified healthcare professionals. However, Asia-Pacific is expected to cite the fastest CAGR of 8.6% throughout the forecast period, attributed to rising prevalence of various diseases and increased R&D investment in developing countries such as Japan and China.

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Major Market Players-

  • Biotronik SE and Co. KG
  • Boston Scientific Society
  • CR Bard, Inc.
  • Cardinal Health, Inc.
  • CONMED society
  • Abbott Laboratories
  • Integra Life Sciences Holdings Corporation
  • LivaNova PLC
  • Johnsons and Johnsons
  • Globus Medical Inc.

Official press release- https://www.alliedmarketresearch.com/press-release/implantable-medical-devices-market.html

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP based in Portland, OR. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas. AMR offers its services in 11 industry verticals, including Life sciencesconsumer goods, materials and chemicals, construction and manufacturing, food and beverages, energy and electricity, semiconductors and electronics, automotive and transport, ICT and media, aerospace and defense and BFSI.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. CEO of Allied Market Research Pawan Kumar is essential to inspire and encourage everyone associated with the business to maintain high quality data and help customers in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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