Medical Implants Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Medical Implants Market Analysis
The Global Medical Implants Market size is expected to grow from USD 111.33 billion in 2023 to USD 157.62 billion by 2028, registering a CAGR of 7.20% during the forecast period (2023-2028).
COVID-19 significantly impacted the medical implants market's growth initially due to supply chain restrictions and reduced hospital patient visits. As the COVID-19 cases started to decline, surgical operations have restarted in most clinics through operating suites and recovery beds for elective treatments in 2021. In addition, the long wait times for various replacement surgeries during and after the pandemic significantly impacted the market. For instance, as per the report published by the Canadian Institute for Health Information in March 2023, longer wait times continued for joint replacements like hip and knee due to the pandemic. Hence, these long wait times increase the number of pooled patients, which likely increases the demand for orthopedic implants and is expected to grow significantly in the market over the coming years.
The major factors contributing to the growth of the medical implants market are the increasing geriatric population, the burden of chronic diseases, the growing demand for cosmetic dentistry, and technological advancements in medical implants.
The geriatric population has a weaker immune system. As a result, the body is more prone to autoimmune diseases like arthritis. Thus, the rising geriatric population is associated with an increased risk of orthopedic and other chronic diseases, thereby driving the growth of the studied market. For instance, as per the World Social Report 2023 published in January 2023, between 2021 and 2050, the number of adults 65 and older is expected to more than quadruple, going from 761 million to 1.6 billion globally. The number of people aged 80 years or older is growing even faster. This increase in the number of older adults is found to augment the number of orthopedic disorders, which subsequently helps boost the demand for medical implants and is expected to boost the market over the forecast period.
Furthermore, the rising incidence of breast cancer likely increases the demand for breast implants, which is expected to drive the market over the forecast period. For instance, according to the report published by the American Cancer Society in 2023, 297,790 new cases of invasive breast cancer will be diagnosed in women in the United States compared to 287,850 new breast cancer cases in 2022. Thus, the increasing incidence of breast cancers raises the demand for breast augmentation using breast implants, thereby driving the market growth. A few other factors are playing pivotal roles in accelerating the medical implants market, including the hike in disposable income among people, technological advancements in the field of implants, the availability of better medical facilities, and a growing number of cases involving damaged limbs or organs caused by various accidents.
However, the high cost of medical implants and stringent regulatory policies are expected to restrain the market for the forecast period.
Medical Implants Market Trends
Orthopedic Implants Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
Orthopedic implants are medical devices used to replace missing joints or bones or support damaged bones. These devices use titanium alloys and stainless steel for strength, while plastic coating acts as artificial cartilage. These implants also treat deformities, stabilize body posture, and restore normal skeletal function. The orthopedic implants segment is expected to hold a significant market share due to the increase in the cases of orthopedic diseases, rising research funding for orthopedic diseases, and the increasing geriatric population in society.
Orthopedic conditions, such as arthritis and bursitis, affect the musculoskeletal system, most commonly the bones or joints. Some arthritis conditions like osteoarthritis, rheumatoid arthritis, and post-traumatic arthritis may require surgery with orthopedic implants to strengthen or completely replace the joints in the damaged bones or regions. Thus, the high prevalence of orthopedic diseases raises the demand for orthopedic implants and is expected to have significant growth in the market over the forecast period.
For instance, as per the study report titled published by Arthritis Research & Therapy in March 2023, the pooled prevalence of hip osteoarthritis diagnosed based on the K-L grade 2 criteria was 8.55% worldwide, and highest in Europe with 12.59% and the lowest in Africa at 1.20%. A significant percentage of hip osteoarthritis likely increases the need for hip replacement procedures, which is expected to have significant growth in the market.
In addition, rising launches of orthopedic implants by key market players are also expected to drive the growth of this segment. For instance, in April 2022, the Orthopaedic Implant Company received FDA clearance and launched its high-value dorsal spanning plate in the United States. This addition to the company's orthopedic trauma implant portfolio expands the potential clinical impact of its DRPx wrist fracture plating system, fortifying it as one of the most comprehensive and value-driven alternatives to other premium-priced plating systems. Therefore, due to the high prevalence of orthopedic diseases and new product launches, there will be an increase in the demand for orthopedic implants, which is expected to have a significant growth in the segment over the forecast period.
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
North America is expected to have a major share in the medical implants market owing to the rising incidence of diseases like arthritis and the rising adoption of cosmetic dental procedures due to tooth loss in the country. In addition, well-established insurance policies and the availability of advanced healthcare infrastructure in the region are expected to drive the market over the forecast period.
As per the Oral Health Bulletin of NIDCR, in 2022, 9 out of 10 adults between the ages of 20 and 64 have tooth decay, and between the ages of 45 and 64, more than 2 in 5 persons suffer from periodontal (gum) disease in the United States. Tooth decay is a common cause of tooth loss in many cases. As a result, teeth gradually loosen and fall out, thereby driving the demand for dental implants in the population.
In addition, the technological advancements in medical implants are expected to drive the market in the region; for instance, as per the report published by Icahn School of Medicine at Mount Sinai in May 2023, the first-generation bioresorbable vascular scaffolds (BVS) are just safe and effective as drug-eluting metallic stents for heart diseases. This led to advancements and improvements in new BVS technology and future clinical use among interventional cardiologists across the United States, which is expected to boost the market over the forecast period.
Furthermore, introducing new implants into the market also drives regional growth. For instance, in June 2022, ZimVie Inc. received clearance from the FDA to T3 PRO Tapered Implant and Encode Emergence Healing Abutment in the United States. The T3 PRO is the new addition to the company's family of dental implants and builds on the proven solutions of the T3 Tapered Implant. Similarly, in February 2022, DeGen Medical, Inc. launched Impulse AM, a 3D-printed porous titanium implant for posterior interbody fusion. Therefore, the rise in the launch of medical implants in the region is expected to increase adoption, thereby driving market growth.
Medical Implants Industry Overview
The medical implant market is fragmented and consists of several major players. In terms of market share, a few major players dominate the market. Prominent players are vigorously making acquisitions of other companies to consolidate their market positions globally. Some of the major market players include Abbott, Smith+Nephew, Dentsply Sirona, Johnson & Johnson, Stryker, and Boston Scientific Corporation, among others.
Medical Implants Market Leaders
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Zimmer Biomet
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CONMED Corporation
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Boston Scientific Corporation
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Stryker
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Smith+Nephew
*Disclaimer: Major Players sorted in no particular order
Medical Implants Market News
- March 2023: Miach Orthopaedics, Inc. entered a distribution agreement with Veteran's Health Medical Supply (VHMS). The agreement provides customers in 236 Department of Defense (DOD) and Department of Veterans Affairs (VA) healthcare facilities access to the Bridge Enhanced ACL Restoration (BEAR) Implant via the ECAT federal contract.
- February 2023: CurvaFix, Inc. launched its smaller-diameter, 7.5mm CurvaFix IM Implant, designed to simplify surgery and provide strong, stable fixation in small-boned patients.
Medical Implants Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Geriatric Population and Burden of Chronic Diseases
- 4.2.2 Increasing Demand for Cosmetic Dentistry
- 4.2.3 Technological Advancements in the Medical Implants
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Reforms
- 4.3.2 Reimbursement Issues and High Cost of Medical Implants
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Product
- 5.1.1 Orthopedic Implants
- 5.1.1.1 Hip Orthopaedic Device
- 5.1.1.2 Joint Reconstruction
- 5.1.1.3 Knee Orthopedic Devices
- 5.1.1.4 Spine Orthopedic Devices
- 5.1.1.5 Other Products
- 5.1.2 Cardiovascular Implants
- 5.1.2.1 Pacing devices
- 5.1.2.2 Stents
- 5.1.2.3 Structural Cardiac Implants
- 5.1.3 Ophthalmic implants
- 5.1.3.1 Intraocular lens
- 5.1.3.2 Glaucoma Implants
- 5.1.4 Dental Implants
- 5.1.5 Facial Implants
- 5.1.6 Breast Implants
- 5.1.7 Other Implants
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5.2 By Type of Material
- 5.2.1 Metallic Biomaterial
- 5.2.2 Polymers Biomaterial
- 5.2.3 Natural Biomaterial
- 5.2.4 Ceramic Biomaterial
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott
- 6.1.2 BIOTRONIK
- 6.1.3 Boston Scientific Corporation
- 6.1.4 Cardinal Health
- 6.1.5 CONMED Corporation
- 6.1.6 Globus Medical
- 6.1.7 Integra LifeSciences
- 6.1.8 Johnson & Johnson
- 6.1.9 Smith+Nephew
- 6.1.10 Stryker
- 6.1.11 Zimmer Biomet
- 6.1.12 Institut Straumann AG
- 6.1.13 Dentsply Sirona
- 6.1.14 Osstem Implant Co. Ltd
- 6.1.15 GC Aesthetics
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Medical Implants Industry Segmentation
As per the report's scope, medical implants are devices or tissues placed inside or on the body's surface. Many implants are prosthetics intended to replace missing body parts. Other implants deliver medication, monitor body functions, or support organs and tissues. The Medical Implants Market is Segmented by Product (Orthopedic Implants (Hip Orthopedic Devices, Joint Reconstruction, Knee Orthopedic Devices, Spine Orthopedic Devices, and Other Products), Cardiovascular Implants (Pacing devices, Stents, and Structural Cardiac Implants), Ophthalmic Implants (Intraocular lens and Glaucoma Implants), Dental Implants, Facial implants, and Breast implants, and Other Implants), Type of Material (Metallic Biomaterial, Polymers Biomaterial, Natural Biomaterial, and Ceramic Biomaterial), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD) for the above segments.
| By Product | Orthopedic Implants | Hip Orthopaedic Device |
| Joint Reconstruction | ||
| Knee Orthopedic Devices | ||
| Spine Orthopedic Devices | ||
| Other Products | ||
| By Product | Cardiovascular Implants | Pacing devices |
| Stents | ||
| Structural Cardiac Implants | ||
| By Product | Ophthalmic implants | Intraocular lens |
| Glaucoma Implants | ||
| By Product | Dental Implants | |
| Facial Implants | ||
| Breast Implants | ||
| Other Implants | ||
| By Type of Material | Metallic Biomaterial | |
| Polymers Biomaterial | ||
| Natural Biomaterial | ||
| Ceramic Biomaterial | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Medical Implants Market Research FAQs
What is the current Global Medical Implants Market size?
The Global Medical Implants Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in Global Medical Implants Market?
Zimmer Biomet, CONMED Corporation, Boston Scientific Corporation, Stryker and Smith+Nephew are the major companies operating in the Global Medical Implants Market.
Which is the fastest growing region in Global Medical Implants Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Medical Implants Market?
In 2024, the North America accounts for the largest market share in Global Medical Implants Market.
What years does this Global Medical Implants Market cover?
The report covers the Global Medical Implants Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Medical Implants Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Medical Implants Industry Report
Statistics for the 2024 Medical Implants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Medical Implants analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
