Increase in prevalence of chronic diseases, supportive initiatives from medical health insurance companies for critical issues

PORTLAND, OREGON, UNITED STATES, August 19, 2021 /EINPresswire.com/ -- Increase in prevalence of chronic diseases, supportive initiatives from medical health insurance companies for critical issues, and surge in awareness regarding different types of implants augment the growth of the global medical implant market. Moreover, based on region, the market across North America held the highest market share in 2019 and is estimated to dominate the market throughout the forecast period.

The medical implant industry estimated $85.38 billion in 2019, and is estimated to generate $147.46 billion by 2027, manifesting a CAGR of 7.2% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, top investment pockets, key segments, major winning strategies, product performance, and competitive scenario.

Avail sample report with Industry Insights @ : https://www.alliedmarketresearch.com/request-sample/71

The growth of the global medical implants market is attributed to increase in geriatric population, surge in awareness about therapeutic applications of medical implants, and alarming increase in prevalence of chronic diseases. Furthermore, innovation and technological advancements in medical implants notably contribute toward the growth of the global medical implant market.

Covid-19 Scenario

The covid-19 outbreak impacted the medical implant market negatively. The American College of Surgeons (ACS) has recently issued guidelines for triage of vascular surgery patients, suggesting to postpone non-emergency vascular procedures.

According to new government directives and hospital guidelines, vascular procedures have been restricted for life or limb salvaging cases only. The staff have been reallocated to Covid wards.

Get detailed COVID-19 impact analysis on the Market @

https://www.alliedmarketresearch.com/request-for-customization/71?reqfor=covid

The global medical implant market is divided on the basis of product type, biomaterial, and region.

Based on product type, the market is segmented into orthopedic implants, cardiovascular implants, spinal implant, neurostimulators, ophthalmic implants, dental implants, facial implants, and breast implants. The orthopedic implants segment accounted for largest market share, with nearly two-fifths of the global market in 2019, and is expected to maintain the dominance throughout the forecast period. In addition, the segment is also expected to manifest the fastest CAGR of 7.3% from 2020 to 2027.

Increase in prevalence of chronic diseases and rise in geriatric population are the major driving forces of the global medical implants market. Moreover, advancements in medical implants and rise in awareness about artificial implants support the growth of the global medical implant market. However, high cost of implantation, inadequate reimbursement policies, and lack of skilled healthcare professionals are some of the factors inhibiting the growth of the market.

Based on region, the market is analyzed across Asia-Pacific, Europe, LAMEA, and North America. The market across North America held lion’s share in 2019, with more than two-fifths of the global medical implant market. Furthermore, the region would lead the trail throughout the forecast period. At the same time, Asia-Pacific is expected to register the fastest CAGR of 8.8% from 2020 to 2027.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/71

Leading market players in the global medical implant market include NuVasive, Inc., Integra LifeSciences, Holding Corporation, Institut Straumann AG, Conmed Corporation, Medtronic Plc., Johnson and Johnson, Boston Scientific Corporation, Biotronik , Globus Medical, Inc., and LivaNova PLC .

Trending Reports In Healthcare Industry:

Contraceptive Drugs Market Analysis & Industry Forecast, 2021 - 2027

Rapid Acting Insulin Market Analysis & Industry Forecast, 2021-2028

U.S. Home Medical Equipment Market Analysis & Industry Forecast, 2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
+15034461141 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.