Implantable Medical Devices Market - Global Industry Analysis, Potential Growth, Key Players and Latest Trends Forecast by 2030

The global Implantable Medical Devices Market is expected to reach US$ 138,474.35 million in 2030 from US$ 80,156.0 million in 2022. The market is estimated to grow with a CAGR of 7.1% from 2022 to 2030.

The key factors driving the market's growth include growing areas of application of implantable medical devices and rising cases of spinal cord injury. However, the post-surgical complications hinder the market growth.

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Analysis of the Top Market Players:
1. Abbott Laboratories
2. Boston Scientific Corp
3. Dentsply Sirona Inc
4. Johnson & Johnson
5. Medtronic Plc
6. Institut Straumann AG
7. Smith & Nephew Plc
8. BIOTRONIK SE & Co KG
9. LivaNova Plc
10. MED-EL Elektromedizin Gerate Gesellschaft mbH.

In this report, the market has been segmented on the basis of:
Nature Type (Active Implant and Passive Implant)
Product Type (Diagnostics and Treatment)
Material Type (Metallic, Ceramic, and Polymers)
Application (Orthopedic Implants, Cardiovascular Implants, Breast Implants, Brain Implants, and Others)

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Market Opportunities of Implantable Medical Devices Market

The adoption of smart implants is inevitable due to new technological advancements in implants and the increasing need to provide pervasive and personalized care. Integrating smart implants presents unprecedented opportunities for effective disease prevention, early detection of diseases, real-time health data collection, real-time monitoring of chronic diseases, virtual patient care, patient-tailored treatment, and minimally invasive management of diseases.

The smart implants allow personalized diagnosis and disease treatment specific to each patient. Manufacturers are investing significantly in developing advanced products and technologies such as implantable devices. Additionally, there is an increase in Food and Drug Administration (FDA) approvals for medical devices with new applications in the implantable devices market.

For instance, In July 2023, Anuncia Medical Inc., a company specializing in advancing innovations for implantable and external cerebrospinal fluid (CSF) management systems and neurocritical care, launched the ReFlow Mini Flusher device. The device benefits hydrocephalus by providing better access to potentially life-saving therapy for the 30 million patients suffering from this neurological disorder worldwide. Similarly, In December 2022, the US Food and Drug Administration (FDA) approved Abbott's Eterna spinal cord stimulation (SCS) system-the smallest implantable, rechargeable spinal cord stimulator currently available for treating chronic pain.

Eterna SCS utilizes Abbott's proprietary low-dose BurstDR stimulation, the only SCS waveform technology with the highest level of clinical evidence (1A evidence), proven to reduce pain 23% more than traditional waveform technology approaches. Therefore, the rising number of advances and approvals for implantable devices is expected to provide lucrative opportunities for the implantable medical devices market during the forecast period.

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