Medical Implants Market Size (2024 - 2029)

The medical implants market is anticipated to experience significant growth, driven by factors such as an increasing geriatric population, a rising burden of chronic diseases, and advancements in technology. The demand for orthopedic implants is expected to surge due to long wait times for surgeries exacerbated by the COVID-19 pandemic. Additionally, the growing incidence of breast cancer is likely to boost the demand for breast implants. Despite these growth drivers, challenges such as high costs and stringent regulatory policies may pose constraints on the market's expansion.

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Market Size of Medical Implants Industry

Medical Implants Market Summary
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

Medical Implants Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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
Cardiovascular Implants
Pacing devices
Stents
Structural Cardiac Implants
Ophthalmic implants
Intraocular lens
Glaucoma Implants
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
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Medical Implants Market Size Summary

The medical implants market is poised for significant growth, driven by factors such as the increasing geriatric population, the prevalence of chronic diseases, and advancements in technology. The demand for orthopedic implants is particularly expected to rise due to the growing incidence of orthopedic disorders and the long wait times for surgeries exacerbated by the COVID-19 pandemic. The market is also witnessing a surge in demand for breast implants, influenced by the rising incidence of breast cancer. Additionally, the market is benefiting from the increasing disposable income, improved medical facilities, and a higher number of cases involving damaged limbs or organs. However, the high cost of medical implants and stringent regulatory policies may pose challenges to market expansion.

Regionally, North America is anticipated to hold a significant share of the medical implants market, supported by the rising incidence of diseases like arthritis and the adoption of cosmetic dental procedures. The region's well-established insurance policies and advanced healthcare infrastructure further bolster market growth. Technological advancements, such as the development of bioresorbable vascular scaffolds, are expected to drive the market forward. The introduction of new implants and products by key players also contributes to regional growth. The market is characterized by fragmentation, with major players like Abbott, Smith+Nephew, and Johnson & Johnson leading through strategic acquisitions and product launches to consolidate their global market positions.

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Medical Implants Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Geriatric Population and Burden of Chronic Diseases

      2. 1.2.2 Increasing Demand for Cosmetic Dentistry

      3. 1.2.3 Technological Advancements in the Medical Implants

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulatory Reforms

      2. 1.3.2 Reimbursement Issues and High Cost of Medical Implants

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 2.1 By Product

      1. 2.1.1 Orthopedic Implants

        1. 2.1.1.1 Hip Orthopaedic Device

        2. 2.1.1.2 Joint Reconstruction

        3. 2.1.1.3 Knee Orthopedic Devices

        4. 2.1.1.4 Spine Orthopedic Devices

        5. 2.1.1.5 Other Products

      2. 2.1.2 Cardiovascular Implants

        1. 2.1.2.1 Pacing devices

        2. 2.1.2.2 Stents

        3. 2.1.2.3 Structural Cardiac Implants

      3. 2.1.3 Ophthalmic implants

        1. 2.1.3.1 Intraocular lens

        2. 2.1.3.2 Glaucoma Implants

      4. 2.1.4 Dental Implants

      5. 2.1.5 Facial Implants

      6. 2.1.6 Breast Implants

      7. 2.1.7 Other Implants

    2. 2.2 By Type of Material

      1. 2.2.1 Metallic Biomaterial

      2. 2.2.2 Polymers Biomaterial

      3. 2.2.3 Natural Biomaterial

      4. 2.2.4 Ceramic Biomaterial

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Medical Implants Market Size FAQs

The Global Medical Implants Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)

Zimmer Biomet, CONMED Corporation, Boston Scientific Corporation, Stryker and Smith+Nephew are the major companies operating in the Global Medical Implants Market.

Medical Implants Market Report Snapshots

Medical Implants Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)