Global Medical Implant Market Insights Forecasts to 2033

• The Global Medical Implant Market Size was Valued at USD 110.25 Billion in 2023
• The Market Size is Growing at a CAGR of 6.90% from 2023 to 2033
• The Worldwide Medical Implant Market Size is Expected to Reach USD 214.76 Billion by 2033
• Asia-Pacific is expected to Grow the fastest during the forecast period

The Global Medical Implant Market Size is Anticipated to Exceed USD 214.76 Billion by 2033, Growing at a CAGR of 6.90% from 2023 to 2033.

Market Overview

Artificial tissues or devices that are implanted into or applied to the body are known as medical implants. Medical implants are used to replace specific organs like cardiovascular, orthopedic, neurological, and dental ailments. While some medical implants are made of ceramic, metal, or plastic materials, others are comprised of skin, bone, or other bodily tissue. These medical implants are commonly made up of biocompatible materials and are designed to stay in the body for an extended period. For this reason, medical implants are designed to restore function, alleviate pain, and enhance the quality of life & better health outcomes for individuals suffering from various diseases. Medical implants can be removed when no longer needed and might be permanent or temporary. Infection, surgical error, and implant malfunction are among the risks and issues connected to medical implantation. The manufacturing, distributing, and application of a wide variety of implantable medical devices intended to supplement or replace biological structures are all included in the medical implant market such as dental implants, orthopedic implants, cardiac devices, neurostimulators, and more. Growing public knowledge of medical implants and scientific developments in medical implants are the key market drivers enhancing the global medical implant market growth during the forecast period.

Report Coverage

This research report categorizes the market for the global medical implant market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global medical implant market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global medical implant market.

Driving Factors

The growing number of elderly people, the prevalence of chronic illnesses, the need for cosmetic dentistry, and the development of medical implants through technology are propelling the global medical implant market growth. Elderly people are more susceptible to chronic diseases such as cardiovascular diseases, orthopedic disorders, endovascular diseases, and dental disorders, thus being the major users of medical implants. The main factors that increase the uptake of medical implants among patients include growing disposable income, the availability of advanced healthcare infrastructure, growing consumer spending on healthcare, and growing awareness of the availability of medical implants. Through, the use of medical implant devices like dental, breast, pectoral, deltoid, and cochlear implants, people can now improve their appearance and beauty thanks to technical improvements in the healthcare sector. Increasing the number of accidental cases in which limbs and organs are damaged is an important factor that may drive the demand for the global medical implant market during the forecast period.

Restraining Factors

The high cost of treatment associated with medical implants and strict approval process hampering the growth of the global medical implant market during the forecast period. As technology is incorporated into medical implants more and more, cybersecurity risks are becoming a major worry. Cyberattacks can occur with implants that have connectivity functions, such as remote monitoring.

Market Segmentation

The global medical implant market share is classified into type, type of material, and end user.

• The orthopedic segment is expected to hold the largest share of the global medical implant market during the forecast period.

Based on the type, the global medical implant market is divided into orthopedic implants, cardiac implants, ophthalmic implants, spinal implants, dental implants, and cosmetic implants. Among these, the orthopedic segment is expected to hold the largest share of the global medical implant market during the forecast period. The segmental growth can be attributed to the increasing prevalence of osteoporosis among the aging population and the increase in physical illnesses such as obesity. The surge in demand for plastic surgery, the expansion of biomaterial applications, the growth in R&D spending, and the advantageous reimbursement scenario contributed to the metallic biomaterial segment's dominance in the global medical implants market.

• The metallic material segment is expected to hold the largest share of the global medical implant market during the forecast period.   

Based on the type of material, the global medical implant market is divided into metallic material, ceramic material, and polymers material. Among these, the metallic material segment is expected to hold the largest share of the global medical implant market during the forecast period. The growth can be attributed to the metallic biomaterials are man-made systems that provide internal support to biological tissues. The market is growing due to several factors, including an older population, higher R&D spending, a boom in biomaterials applications, a rise in plastic surgery demand, and payments from the centers for Medicare & Medicaid services.

• The hospitals & clinics segment is expected to hold the largest share of the global medical implant market during the forecast period.

Based on the end user, the global medical implant market is divided into hospitals & clinics and research laboratories. Among these, hospitals & clinics is expected to hold the largest share of the global medical implant market during the forecast period. The segmental growth can be attributed to the hospitals & clinics that generated the most income. A wide range of reimbursement policies of large hospitals offering implantations are expected to fuel the segment's growth.

Regional Segment Analysis of the Global Medical Implant Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• Latin America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global medical implant market over the predicted timeframe.

North America is anticipated to hold the largest share of the global medical implant market over the predicted timeframe. Increasing the incidence of diseases like arthritis and increasing the adoption of cosmetic dental procedures due to tooth loss in the country. Advanced healthcare infrastructure and well-established insurance policies in the region are expected to drive market growth. Rising acceptance of minimally invasive surgeries and rising consumer expenditure on healthcare are the major factors that are expected to drive the growth of the medical implants market in the region

Asia-Pacific is expected to grow at the fastest pace in the global medical implant market during the forecast period. Further, the rising government and corporate investments in the development of advanced healthcare infrastructure in the region is anticipated to boost the market growth in the region. It is projected that growing corporate and governmental investments in the area's advanced healthcare infrastructure will accelerate market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global medical implant market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of overall competition within the market.

List of Key Companies

• Medtronic Plc.,
• Biotronik, Inc.,
• Institut Straumann AG
• NUVASIVE, INC.
• Globus Medical INC.
• Abbott Laboratories
• 3M Company
• Straumann Group
• Dentsply Sirona
• Integra Life Sciences Holdings Corporation
• CONMED Corporation
• Stryker Corporation
• LivaNova PLC
• Johnson & Johnson
• Boston Scientific Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2024, Boston scientific gains FDA nod for drug-coated coronary balloon. Boston scientific received food and drug administration approval for a drug-coated balloon to treat coronary in-stent restenosis, a condition in which a vessel that previously received a stent narrows again due to plaque or scar tissue.

• In February 2023, CurvaFix, Inc. introduced the 7.5mm CurvaFix IM implant, a smaller-diameter device intended to facilitate surgery and offer small-boned patients a strong, secure fix.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global medical implant market based on the below-mentioned segments: 

Global Medical Implant Market, By Type

• Orthopedic Implants
• Cardiac Implants
• Spinal Implants
• Dental Implants
• Ophthalmic Implants
• Cosmetic Implants

Global Medical Implant Market, By Type of Material

• Metallic Material
• Ceramic Material
• Polymers Material

Global Medical Implant Market, By End User

• Hospitals & Clinics
• Research Laboratories

Global Medical Implant Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa