Rise in prevalence of chronic diseases and increase in awareness regarding different types of implants drive the growth of the global medical implant market.

PORTLAND, OREGON, UNITED STATES, December 6, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Medical Implant Market By Product Type (Orthopedic Implants, Cardiovascular Implants, Spinal Implant, Neurostimulators, Ophthalmic Implants, Dental Implants, Facial Implants, and Breast Implants) and Biomaterial Type (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, and Natural Biomaterials): Global Opportunity Analysis and Industry Forecast, 2020–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Rise in prevalence of chronic diseases, supportive initiatives from medical health insurance companies for critical issues, and increase in awareness regarding different types of implants drive the growth of the global medical implant market. However, high cost of treatment and stringent approval process restrain the market growth. Contrarily, technological advancements in implants present new opportunities in the coming years.

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Covid-19 Scenario

New guidelines regarding medical implantation have been released by governing authorities. The American College of Surgeons (ACS) released guidelines for triage of vascular surgery patients. These guidelines outlined that non-emergency peripheral vascular procedures such as endovascular therapy for claudication and others should be postponed.

The implant surgeries are restricted to life or limb salvaging cases only and the staff has been reallocated to take care of patients infected with coronavirus. Moreover, this step has been taken to avoid possibility of cross-contamination.

Comprehensive competitive analysis and profiles of major market players, such as

Medtronic Plc.
Johnson and Johnson
Boston Scientific Corporation
Biotronik
LivaNova PLC
Globus Medical, Inc.
NuVasive, Inc.
Integra LifeSciences Holding Corporation
Institut Straumann AG
Conmed Corporation

North America to maintain its leadership status in terms of revenue by 2027

Based on region, North America held the highest share in 2019, contributing to more than two-fifths of the global medical implant market, and will maintain its leadership status in terms of revenue by 2027. This is attributed to increase in number of cardiovascular diseases and surge in aging population in the region. However, Asia-Pacific is estimated to manifest the fastest CAGR of 8.8% from 2020 to 2027, owing to untapped opportunities such as expanding healthcare budgets and rise in disposable income.

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