Global Implantable Medical Devices Market Is Predicted To Reach US$ 155 Billion By 2027Posted by Aparna on August 9th, 2023 According to Fact.MR’s most recent industry analysis, implanted medical device market sales are expected to grow globally between 2022 and 2027 at a compound annual growth rate of 6.1%.
The market for implantable medical devices is expanding as a result of increased chronic illness prevalence, an ageing population, and improvements in active implanted medical devices. Additionally, increased funding and investments in the creation of technologically advanced products, elevated awareness of advancements in medical implants, and an increase in the use of neurostimulators are all contributing to market expansion.
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https://www.factmr.com/connectus/sample?flag=S&rep_id=7728 Incidence of cardiovascular diseases is rising, and obesity rates are high, which are the main drivers that are likely to fuel market growth for implantable medical devices.
Medical professionals and patients can monitor their illnesses to receive an early update with the use of implantable medical devices. These wireless, automated devices assess a patient’s sensitivity to a prescribed medicine dosage. The rising prevalence of neurological illnesses such as Parkinson’s disease and spasticity is driving the demand for active implantable medical devices.
Key Takeaways from Market Study
“Increasing investments in R&D by government organizations for product innovations, rising adoption of innovative implantation methods such as robot-assisted orthopedic surgeries, growing awareness of the accessibility of implantable medical devices, rising disposable income, and growing consumer spending on healthcare services are factors driving market growth,” says a Fact.MR analyst
Key Companies Profiled
Winning Strategy
Top market participants are concentrating on creating customized implants. Additional factors driving market growth include established distribution channels and strategic alliances with significant service providers to broaden product reach. Key market players are offering technologically advanced implantable medical devices to gain an advantage in the extremely competitive industry. For instance,
Industry Research
Why is the market for implantable medical devices growing in the United States?
The drivers driving market expansion in the U.S. include rising consumer healthcare spending, increased use of minimally invasive procedures, and increased public knowledge of the availability of different medical implants.
Constant improvements in medical technology, the availability of state-of-the-art healthcare facilities with qualified medical staff, expanding consumer demand for active implanted devices, and rising government spending in the healthcare system all contribute to the market’s value growth.
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