The global medical implant market is expected to grow at a significant rate during the forecast period. The cosmetic implant is expected to be a major segment in the medical implant industry globally. The US is projected to have a significant market size to the cosmetic market in the near future. As per the American Society of Plastic Surgeons, around 1.8 million cosmetic surgeries were performed in 2018 with a growth of 1% YoY (year-on-year) basis.
Breast implant, buttock implant, eyelid surgery, liposuction, nose reshaping (rhinoplasty), and tummy tuck (abdominoplasty) were the most common cosmetic surgery among Americans in 2018. One of the major factors for the growth of cosmetic surgery in the country is the consciousness of an individual’s physical appearance.
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Moreover, the rising prevalence of breast cancer is also a major factor driving the need for breast implantation in the country and hence drives the growth of the overall medical implant market. There were around 3.1 million women living with a history of breast cancer in the US. As per the World Bank, alone in 2018, there were more than 234,000 new cases of breast cancer in the country. Moreover, it is estimated that 1 in 12 women in the US will develop invasive breast cancer over the course of their lifetime.
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The global medical implant market is a consolidated market that has some market players that have acquired a major global market share. It is due to the fact that most of the implants are manufactured with high-end technology and classified in class III technology, which needs government regulation before introducing to the market.
Major market players working in the medical implant industry include Stryker Corp., Smith & Nephew Orthopaedic Ltd., Medtronic PLC, Johnson & Johnson Services, Inc., Zimmer Biomet Holdings, Inc., Abbott Laboratories and so on and working in various segments. These players are significantly contributing to the market growth and adopting various strategies such as expansion, merger and acquisition, partnership and collaborations, and technological advancements to stay competitive in the market.
Global Medical Implants Market – Segmentation
By Type
- Orthopedic Implants
- Cardiac Implants
- Dental Implant
- Ophthalmic (Ocular) Implants
- Cochlear Implants
- Cosmetic Implant
- Neurological Implant (Neurostimulators)
- Other
By Material
- Metallic
- Ceramic
- Polymer
- Natural Biomaterials
Global Medical Implants Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- 3M Co.
- Abbott Laboratories, Inc.
- Advantage Manufacturing Technologies, Inc.
- Alcon Inc.
- Allergan PLC
- Alphatec Spine, Inc.
- Amedica Corp.
- Arthrex, Inc.
- B Braun Melsungen AG
- Bausch & Lomb Inc.
- Becton, Dickinson and Co.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
