Medical Implant Market By Product (Orthopedic implants, Cardiovascular Implants, Spinal Implants, Neurostimulators, Opthalmic Implants, Dental Implants, Facial Implants, Breast implants) , By Biomaterial Type (Metallic Biomaterials , Ceramic Biomaterials , Polymers Biomaterials , Natural Biomaterials) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The medical implant market was valued at $112.8 billion in 2023, and is projected to reach $225.7 billion by 2033, growing at a CAGR of 7.2% from 2024 to 2033.
Medical implant is a medical device or tissue that is placed inside or on the surface of the body to replace mimic the functions of biological structures in individuals whose organs are damaged, dysfunctional, or impaired. They are used to restore function and provide support in patients suffering from various medical conditions or injuries. They can be made from a variety of materials, including metals, ceramics, polymers, and biological tissues. Various types of implants include orthopedic, cardiovascular, neurological, dental, ophthalmic, cochlear, and cosmetic implants.
The growth of the global medical implant market is majorly driven by alarming increase in prevalence of chronic conditions such as cardiovascular diseases, diabetes, and neurological disorders necessitates the use of implants for treatment and management, such as pacemakers, stents, and neurostimulators. Moreover, rise in geriatric population acts as a key driving force of the global market. This is attributed to the fact that increase in elderly population leads to a higher prevalence of age-related conditions such as osteoporosis, cardiovascular diseases, and degenerative joint diseases, boosting the demand for medical implants. Furthermore, rise in accidents, sports injuries, and trauma cases leads to higher demand for orthopedic implants to repair and support damaged bones and joints. Thus, these facts determine that orthopedic implants are considered the most common. According to an article published by Wolters Kluwer, a Dutch information services company, almost two million bone grafting procedures are performed worldwide per year. Among these, 500,000 bone graft are performed annually in the U.S. alone. Furthermore, increase in awareness among patients and healthcare providers about the benefits of medical implants and enhanced healthcare facilities and infrastructure in developing regions increase access to advanced medical treatments, including implant surgeries, boost the market growth. Desire for improved physical appearance has significantly propelled the demand for cosmetic surgeries and procedures, such as breast implants and facial implants, further augmenting the market growth. Growing trend of medical tourism, where patients travel to other countries for affordable and high-quality implant procedures, considerably contributes toward the market growth. According to Medical Tourism Association—a non-profit organization in Florida that focuses on raising awareness for medical travel while driving the adoption of affordable and transparent medical practices—approximately 14 million individuals travel to other countries in search of medical care annually across the world, garnering between 50 and 70 thousand million dollars. However, high cost associated with development, production, and implementation of advanced medical implants hampers the growth of the market. Moreover, lack of appropriate health facilities to meet population needs in most countries and limited access act as the key deterrent factors of the market. Furthermore, risk of immune rejection and ethical conflicts significantly restrain the market growth. On the contrary, continuous innovations in implant materials, design, and surgical techniques to improve the safety, effectiveness, and longevity of medical implants are expected to offer lucrative opportunities for the market growth during the forecast period. For instance, manufacturers are focusing on the development of implants made from biodegradable materials that gradually dissolve in the body, thus eliminating the need for surgical removal and reducing long-term complications.
The global medical implant market is segmented into product, biomaterial type, and region. On the basis of product, the market is fragmented into orthopedic implants, cardiovascular implants, spinal implants, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants. Depending on biomaterial type, it is categorized into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and natural biomaterials. Region wise, it is analyzed across North America, Europe, Asia-Pacific, LAMEA.
Key FindingsBy product, the orthopedic implants segment dominated the market, in terms of share, in 2023.
Depending on biomaterial type, metallic biomaterials emerged as the leading segment in 2023.
Region wise, North America was the major shareholder in 2023.
Competition AnalysisCompetitive analysis and profiles of the major players in the global medical implant market include Biotronik, Boston Scientific Corporation, CONMED Corporation, Globus Medical, Inc., Institut Straumann AG, Integra LifeSciences Holdings Corporation, LivaNova PLC, Medtronic plc, NuVasive, Inc., and Johnson & Johnson. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to gain a strong foothold and sustain the intense competition.
Key Market SegmentsBy ProductOrthopedic implants
Reconstructive Joint Replacements
Knee Replacement Implants
Hip Replacement Implants
Extremities
Orthobiologics
Trauma and Craniomaxillofacial
Cardiovascular Implants
Pacing Devices
Cardiac Resynchronization Therapy Devices (CRTs)
Implantable Cardioverter Defibrillators (ICDs)
Implantable Cardiac Pacemakers (ICPs)
Stents
Coronary stents
Peripheral stents
Stent-related Implants
Structural Cardiac Implants
Mechanical Heart Valves
Implantable Ventricular-assist Devices
Spinal Implants
Spinal fusion implants
Spinal bone stimulators
Vertebral Compression Fracture (VCF) Devices
Motion Preservation Devices/Non-Fusion Devices
Neurostimulators
Deep Brain Stimulation
Sacral Nerve Stimulation
Vagus Nerve Stimulation
Spinal Cord Stimulation
Other neurostimulators
Opthalmic Implants
Intraocular Lens
Glaucoma Implants
Dental Implants
Plate Form Dental Implants
Root Form Dental Implants
Facial Implants
Breast implants
By Biomaterial TypeMetallic Biomaterials
Ceramic Biomaterials
Polymers Biomaterials
Natural Biomaterials
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Biotronik
Boston Scientific Corporation
CONMED Corporation
Globus Medical, Inc.
Institut Straumann AG
Integra LifeSciences Holdings Corporation
LivaNova PLC
Medtronic plc
NuVasive, Inc.
Johnson & Johnson