Cleveland, Ohio – Transparency Market Research’s report, titled “Implantable Medical Devices Market - U.S. Industry Analysis, Size, Share, Trends, Growth And Forecast" offers a look at the market through 2018.
The top 5 trends seen are:
- The U.S. implantable medical devices market is expected to be worth $73.9 billion by 2018
- Orthopedic implants lead in terms of type of medical implants
- Orthopedic implants expected to contribute a revenue of $38,043.3 billion by 2018
- Based on procedure, orthopedic implantation procedures are the leading segment in the U.S. implantable medical devices market
- Increasing incidence of orthopedic procedures and an increasing pool of the elderly fuels demand for orthopedic implantation procedures such as spinal fusion and fixation and total knee and hip replacements will increase
The U.S. implantable medical devices market features a fair degree of consolidation with a handful of companies enjoying dominance in this market, says the lead author of the study. Some of these companies are Zimmer Holdings, Stryker Corporation, and Abbott Laboratories.
An excellent example is Abbott Laboratories. The company is investing heavily in emerging economies to leverage the economic growth that is underway in these nations. Prior to the launch of the product, the company carries out extensive market research for a know-how of the nation’s needs and introduce the ideal product suitable for them.
Business diversification by investing in diversified fields is also what top players in this market are focused on for business growth. Mergers, acquisitions, and takeovers are one of the key growth models that top players in the U.S. implantable medical devices are focused on for business expansion.
“The high incidence of chronic degenerative diseases is one of the primary factors driving the U.S. implantable medical devices market,” points out a TMR analyst.
The increasing patient pool of individuals suffering from conditions such as blindness, deafness, orthopedic ailments, and other degenerative diseases can benefit greatly from newer technology-based implantable devices, especially for conditions wherein the pharmacological treatment is ineffective.
An increasing aging population in the U.S. is also exhibiting increased demand for implantable medical devices for age-related ailments. With the baby boomer population getting older, the demand for implantation procedures is on the rise for the treatment of age-related ailments.
Increasing purchasing power parity and growing healthcare expenditure is also augmenting the growth of the U.S. implantable medical devices market.
The market is segmented into the following categories:
U.S. implantable medical devices market, product segmentation
- Orthopedic implants
- Reconstructive joint replacement
- Spinal implants
- Cardiovascular implants
- Dental implants
- Intraocular lens
- Breast implants
- Other implants
U.S. implantable medical devices market, by procedures
- Orthopedic procedures
- Cardiovascular procedures
- Other procedures