Medical Implants Market By Type (Cardiovascular Implants (Stents, Pacing Devices, and Structural Cardiac Implants), Orthopedic Implants (Joint Reconstruction, Hip Orthopedic Devices, Spine Orthopedic Devices, Knee Orthopedic Devices, and Others), Spinal Implants, Ophthalmic Implants, Dental Implants, Neurostimulator Implants, and Cosmetic Implants (Facial Implants, Breast Implants, and Others)), By Biomaterial Type (Metallic, Ceramic, Natural, and Polymers), By End-user (Hospitals, Clinics, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033
- Published date: July 2024
- Report ID: 104279
- Number of Pages: 396
- Format:
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Report Overview
The Medical Implants Market size is expected to be worth around USD 225.4 billion by 2033 from USD 111.4 billion in 2023, growing at a CAGR of 7.3% during the forecast period 2024 to 2033.
The global rise in the geriatric population is expected to boost the market during the forecast period. Medical devices are used for a wide range of applications, including replacing body parts such as knees or hips, delivering medicines for pain relief, regulating and monitoring heart rate, and even providing support to tissues and organs.
Furthermore, elderly people have a considerably high usage of dental implants for the replacement of a single tooth or complete/partial denture. The growing prevalence of chronic diseases such as cancer and the technological advancements in minimally invasive surgical techniques & medical 3D printing are projected to create growth opportunities for the market in the coming years.
- As per the data published by the World Health Organization (WHO) in October 2022, the proportion of global geriatric population is estimated to increase, almost doubling from 12% to 22% between the years 2015 and 2050.
Key Takeaways
- Market Size: Medical Implants Market size is expected to be worth around USD 225.4 billion by 2033 from USD 111.4 billion in 2023
- Market Growth: The market growing at a CAGR of 7.3% during the forecast period 2024 to 2033.
- Type Analysis: The type segment is divided into cardiovascular implants, orthopedic implants, spinal implants, ophthalmic implants, dental implants, neurostimulator implants, and cosmetic implants , with orthopedic implants taking the lead in 2023 with a market share of 35%.
- Application Analysis: Considering the biomaterial type, the market is divided into metallic, ceramic, natural, and polymers. Among these, metallic held a significant share of 53%.
- End-Use Analysis: Furthermore, concerning the end-user segment, the market is segregated into hospitals, clinics, and others. The hospitals sector stands out as the dominant player, holding the largest revenue share of 76% in the medical implants market.
- Regional Analysis: North America led the market by securing a market share of 47% in 2023.
- Technological Advancements: Innovations in biocompatible materials, 3D printing, and smart implants are driving market growth.
By Type Analysis
Based on type, the market is categorized into cardiovascular implants (stents, pacing devices, and structural cardiac implants), orthopedic implants (joint reconstruction, hip orthopedic devices, spine orthopedic devices, knee orthopedic devices, and others), spinal implants, ophthalmic implants, dental implants, neurostimulator implants, and cosmetic implants (facial implants, breast implants, and others). Orthopedic implants led the market in 2023, claiming a share of 35% owing to their growing demand among elderly people.
These implants are usually made with titanium alloys or stainless steel and a plastic coating-based synthetic cartilage. With the rise in geriatric population and surging adoption of the modern sedentary lifestyle, there has been a significant increase in the development of joint disorders in the younger population. Moreover, the growing prevalence of obesity and osteoporosis-related fractures throughout all age groups is anticipated to propel the demand for orthopedic implants in the years to come.
In addition, the widescale availability of advanced orthopedic implants by the key market players provides a significant boost to this segment’s growth.
By Biomaterial Type Analysis
Considering biomaterial type, the market is divided into metallic, ceramic, natural, and polymers. Among these, metallic held a significant share of 53% due to their strength and durability. The use of metallic biomaterials provides biological tissues’ internal support. Metallic implants are used in joint replacements, orthopedic fixations, dental implants, and stents.
Factors such as the global increase in the elderly population, surge in R&D investments, advancements in biomaterials applications, and a significant rise in the demand for plastic surgery for cosmetic purposes are fueling the growth of this segment.
By End-user Analysis
The medical implants market is segmented based on end-user into hospitals, clinics, and others. The dominance of hospitals segment, with its largest revenue share of 76% in the medical implants market, is owing to the growing prevalence of musculoskeletal disorders. Such patients require orthopedic implants and have to visit the hospitals for the procedure.
The hospitals & clinics are well-equipped with advanced technologies and state-of-the-art infrastructure along with experts from each department, which facilitates efficient surgical procedures. Hospitals have well-trained doctors and nurses which makes them the primary choice for patients.
Furthermore, large hospitals also provide attractive reimbursement policies that encourage patients to opt for medical implant surgeries. These factors are anticipated to propel the growth of this segment during the forecast period.
Key Market Segments
Type
- Cardiovascular Implants
- Stents
- Pacing Devices
- Structural Cardiac Implants
- Orthopedic Implants
- Joint Reconstruction
- Hip Orthopedic Devices
- Spine Orthopedic Devices
- Knee Orthopedic Devices
- Others
- Spinal Implants
- Ophthalmic Implants
- Dental Implants
- Neurostimulator Implants
- Cosmetic Implants
- Facial Implants
- Breast Implants
- Others
Biomaterial Type
- Metallic
- Ceramic
- Natural
- Polymers
End-user
- Hospitals
- Clinics
- Others
Drivers
Rise in Geriatric Population and Surge in Prevalence of Orthopedic Diseases
The rise in geriatric population and a high risk of bone fractures owing to fragility caused by mineral deficiency, sedentary lifestyle, old age, and obesity are projected to raise the need for orthopedic procedures during the forecast period. Ailments related to bone density such as osteoporosis are caused by the lack of calcium and vitamin D in the diet.
Furthermore, excessive dieting and poor protein intake have also been found to be responsible for increasing the risk of bone loss. With more people adopting the unhealthy traits of modern lifestyle, the market is likely to experience significant growth in the coming years.
- As per the reports published by the World Health Organization in July 2022, around 1.71 billion people suffer from musculoskeletal conditions across the world. These conditions are the leading cause of disability, lower back pain being the most prominent cause.
Growing Popularity of 3D-printed Implants
The growing use of 3D printing in the field of medicine is leading to a rise in the trend of creating personalized implants for patients. 3D printing allows the creation of patient-specific custom implants that require fewer revision surgeries or treatments. As a result, even though the initial cost of such implants is higher in comparison to traditional implants, all the associated costs are significantly reduced in the long run.
- For instance, in January 2023, Trabtech, a pioneer medical technology company, declared a new investment and research fund of 1.3 million Euros (US$ 1.4 million)for the development of new and advanced 3D-printed implants. The orthopedic and pediatric fields are intended to be the areas of focus for this.
Restraints
High Cost of Medical Implants and the side-effects associated with them
The increase in the cost of the orthopedic procedure is leading to high expenditures and hospital bills for the patient undergoing surgery. As per the estimations, the average national cost for a single-level ACDF (Anterior Cervical Discectomy and Fusion) procedure is estimated to be more than US$ 14,000.
Similarily, on an average, knee arthroplasty costs more than US$ 13,000. This, coupled with the additional procedures that need to be conducted as revision treatment in a few years based on the wear & tear of the implant, is likely to hamper the adoption of medical implants, thereby restraining the market.
Opportunities
Growing Popularity of Cosmetic Procedures
The growing popularity of cosmetic procedures to enhance overall aesthetics and physical appearances is expected to create profitable projections for the market. The technological advancements in healthcare are allowing people to enhance their looks and beauty through medical implants such as breast implants, dental implants, deltoid implants, and pectoral implants. Moreover, patients with cases of accidents where limbs or organs get damaged can profit from such procedures. These factors are projected to fuel the market during the assessment period.
- According to a survey report published in February 2024, the US had the highest number of cosmetic procedures across the world in 2022. The number of procedures in 2022 were estimated to be over 7.4 million.
Impact of Macroeconomic / Geopolitical Factors
Macroeconomic and geopolitical factors have a significant impact on the medical implants market. Economic parameters including inflation, GDP growth rates, and healthcare expenditure have a direct impact on the market since they affect healthcare budgets and consumer purchasing power. This influences the demand for medical and prosthetic products, including medical implants. In the current rise of geopolitical tensions in the Middle East and the Russia-Ukraine conflict, there has been an economic downturn, leading to constrained healthcare spending since patients prioritize only the essential treatments or find cheaper alternatives.
However, numerous aspects are currently leading to substantial economic growth despite the setbacks. Factors such as the rise in disposable income, expansion of healthcare infrastructure, particularity in the developed and developing economies, and formation of better trade policies and regulations are anticipated to create lucrative prospects for the market in the coming years.
Latest Trends
Surge in the innovation in medical implants
With the significant rise in the number of people suffering from orthopedic disorders in recent years, there has been considerable growth in the demand for implants. To meet the demand and enhance the quality of orthopedic implants, innovative approaches such as customized and biotech implants are being used. Advancements are being made to develop various approaches for enhancing the fitting of implants.
Innovations such as remote orthopedic surgery assisted by robots, portable navigation to monitor the implantation, and AI-powered guidance software for surgical assistance are projected to create lucrative prospects for the market. In addition, the development of specialized multi-layered composite implants using 3D printing is likely to open new possibilities for medical implants, boosting the market.
- In March 2023, Invibio Ltd. introduced Peek-Optima Am filament, a polyetheretherketone polymer for the production of 3D-printed implantable medical devices. The manufacturing of these filaments is intended to aid the growing production of such products in the market.
Regional Analysis
North America led the medical implants market
North America dominated the market with the highest revenue share of 47% owing to its extensive research & development and healthcare infrastructure. Factors such as obesity and chronic ailments including cancer are leading to a high demand for medical implants. Moreover, the growing popularity of plastic surgeries in this region for cosmetic purposes, including breast implants, buttock implants, calf implants, etc. are anticipated to create lucrative prospects for the market in this region in the coming years.
- As per the data published by the World Health Organization (WHO) in February 2024, around 20 million cancer cases emerged in 2022, leading to 9.7 million deaths. It is estimated that approximately 1 in 5 people are cancer patients. As per the estimations, 1 in 9 men and 1 in 12 women pass away because of cancer.
Asia Pacific is expected to experience substantial growth during the forecast period
Asia Pacific is projected to grow at a significant pace owing to the rise in the geriatric population and increased healthcare spending. Elderly people are highly prone to ailments such as osteoporosis, bone injuries, osteoarthritis, and obesity. Moreover, the presence of emerging economies such as India and China is expected to boost the market due to the significant strides they are making in the field of medical science.
- As per a report published by the United States Census Bureau in June 2022, the Asian geriatric population is anticipated to almost triple during the next four decades. The majority of this population will be residing in the southern and eastern sub-regions, where India and China are located.
Key Regions and Countries
North America
- US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Key Players Analysis
The major players in the medical implants market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. These players use development strategies such as partnerships, mergers, acquisitions, and product launches to stay ahead of the curve.
Top Key Players in Medical Implants Market
- NuVasive, Inc.
- Medtronic Plc.
- LivaNova PLC
- Johnson and Johnson
- Integra LifeSciences Holding Corporation
- Institut Straumann AG
- Globus Medical, Inc
- Conmed Corporation
- Boston Scientific Corporation
- Biotronik
- Other Key Players
Recent Developments
- April 2024: Medtronic Plc, one of the market pioneers, received FDA approval for Inceptiv, a closed-loop stimulator for the spinal cord. It is intended to be an effective treatment for chronic pain as its closed-loop sensing capability can automatically and instantly make adjustments in the therapy while treating.
- March 2023: Medtronic Plc announced the FDA approval of Symplicity Spyral renal denervation system, also called Symplicity blood pressure procedure. This device is used in the treatment of hypertension by offering patients an additional approach to lowering blood pressure.
Report Scope
Report Features Description Market Value (2023) USD 111.4 billion Forecast Revenue (2033) USD 225.4 billion CAGR (2024-2033) 7.3% Base Year for Estimation 2023 Historic Period 2018-2022 Forecast Period 2024-2033 Report Coverage Revenue Forecast, Market Dynamics, Competitive Landscape, Recent Developments Segments Covered By Type (Cardiovascular Implants (Stents, Pacing Devices, and Structural Cardiac Implants), Orthopedic Implants (Joint Reconstruction, Hip Orthopedic Devices, Spine Orthopedic Devices, Knee Orthopedic Devices, and Others), Spinal Implants, Ophthalmic Implants, Dental Implants, Neurostimulator Implants, and Cosmetic Implants (Facial Implants, Breast Implants, and Others)), By Biomaterial Type (Metallic, Ceramic, Natural, and Polymers), By End-user (Hospitals, Clinics, and Others) Regional Analysis North America – US, Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands, Rest of Europe; Asia Pacific – China, Japan, South Korea, India, Australia, New Zealand, Singapore, Thailand, Vietnam, Rest of APAC; Latin America – Brazil, Mexico, Rest of Latin America; Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of MEA Competitive Landscape NuVasive, Inc., Medtronic Plc., LivaNova PLC, Johnson and Johnson, Integra LifeSciences Holding Corporation, Institut Straumann AG, Globus Medical, Inc, Conmed Corporation, Boston Scientific Corporation, Biotronik, and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What are medical implants?Medical implants are devices or tissues placed inside or on the surface of the body to replace damaged structures, support tissues, or enhance function.
How big is the Medical Implants Market?The global Medical Implants Market size was estimated at USD 111.4 Billion in 2023 and is expected to reach USD 225.4 Billion in 2033.
What is the Medical Implants Market growth?The global Medical Implants Market is expected to grow at a compound annual growth rate of 7.3%. From 2024 To 2033
Who are the key companies/players in the Medical Implants Market?Some of the key players in the Medical Implants Markets are NuVasive, Inc., Medtronic Plc., LivaNova PLC, Johnson and Johnson, Integra LifeSciences Holding Corporation, Institut Straumann AG, Globus Medical, Inc, Conmed Corporation, Boston Scientific Corporation, Biotronik, and Other Key Players.
Which regions are leading in the Medical Implants market?North America dominated the market with the highest revenue share of 47% owing to its extensive research & development and healthcare infrastructure.
What is driving the growth of the medical implants market?The market is driven by an aging population, the increasing prevalence of chronic diseases, advancements in technology, and rising demand for minimally invasive procedures.
How is technology impacting the medical implants market?Technological advancements such as biocompatible materials, 3D printing, and smart implants are significantly enhancing market growth and product innovation.
What are the future trends in the medical implants market?Future trends include increased use of personalized implants, development of bioresorbable implants, and integration of artificial intelligence in implant technology.
How are regulatory frameworks affecting the market?Strict regulatory requirements and approval processes can delay the introduction of new implants but ensure safety and efficacy.
- NuVasive, Inc.
- Medtronic Plc.
- LivaNova PLC
- Johnson and Johnson
- Integra LifeSciences Holding Corporation
- Institut Straumann AG
- Globus Medical, Inc
- Conmed Corporation
- Boston Scientific Corporation Company Profile
- Biotronik
- Other Key Players
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