The Global Market for Artificial Implants is Projected to Cross US$80 Billion by 2022

Developments in Prosthetic Design and Material Construction Drive the Long-Term Revenue Potential of the Global Artificial Implants Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches a comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Artificial Implants market. The global market for Artificial Implants is projected to cross US$80 billion by 2022, driven by effervescent technology innovations and the resulting development of prosthesis with superior design and material construction in a manner that helps reduce the risk of immunogenicity.

Artificial Implants are devices that find use in supporting a damaged biological structure, in strengthening an existing structure or in replacing a damaged or missing structure in the human body. Made from bio-medical materials including silicone or titanium, or natural materials in the human body such as skin or bone, these implants are placed either on the surface of the body or inserted into the body depending upon the structure being addressed. Artificial implants play a significant role in overall medical treatment. With further innovations in technology, the market offers even greater potential for the future.

Various innovative products have joined the fray, and an estimated 3 million people worldwide wear implantable defibrillators and pacemakers, while an estimated 2 million wear cochlear implants. The number of orthopedic procedures is expected to double over the next decade. Aging population the world over, has been a major contributor to the unprecedented growth of orthopedics, specifically in the area of implants, as majority of the conditions affecting the elderly require physical therapy, orthopedic surgery or rehabilitation. For instance, rising incidence of age-related conditions such as osteoarthritis are driving growth of hip and knee implants. Hip replacements through the use of advanced technology are considered as one of the ideal ways, in terms of cost and time, for enhancing quality of life for people suffering from arthritis. Prosthetic limbs and bionic implants are commonly used in treatment of degenerative arthritis or diseased joint due to chronic medical history or to replace a damaged joint.

Likewise, demand for dental solutions has a high correlation with age, with the edentulous population making up for a lucrative target market for dental implants. Over the years, the significance and popularity of specialty and aesthetic dentistry has risen considerably, with more and more emphasis being laid on procedures that not only offer better aesthetic results but also reduce recovery time. Patients and dentists are increasingly adopting dental membrane materials, tissue regeneration and dental bone graft materials, as these are easier to handle and use. Further, surgeons are becoming more aware of the available biologic products that are designed for orthopedic applications.

The introduction of implantable cardioverter defibrillator (ICDs) during the 1980s revolutionized the cardiac care market. Clinical studies additionally validated the device use, offering hope to individuals suffering from arrhythmias. As a result, in the following decades, as patient and physician acceptance gained momentum, several device implantations were made in eligible patient groups. Presently, the large patient base with aging devices throws up attractive opportunities for replacements. Future growth in the market will be driven by replacements of surgically implanted ICDs. ICD devices require replacements due to limited battery life and the tendency of the device to become obsolete over a period of time.

As stated by the new market research report on Artificial Implants, the United States and Europe represent major markets worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of over 10.5% through the analysis period, led by factors such as growing population and a parallel increase in healthcare burden; strong emphasis on quality of healthcare services; government policy led support for biomaterials R&D for artificial implants; high road and workplace accidents as a result of the lack of stringent safety regulations and guidelines and the ensuing increase in demand for spinal implants; and rise of medical tourism especially for cheap and affordable orthopedic procedures in low cost Asian countries.

Major players in the market include Abiomed Inc., Bicon, LLC, Biotronik SE & Co. KG, Boston Scientific Corporation, Cochlear Limited, Dentsply Sirona, DePuy Synthes Companies, Exactech Inc., GS Medical LLC, Institut Straumann AG, Integra Lifesciences Holdings Corporation, Japan Medical Dynamic Marketing Inc., MED-EL Medical Electronics, Medtronic plc, Nobel Biocare Services AG, RTI Surgical Inc., Showa Ika Kohgyo Co. Ltd, Smith & Nephew Plc, St. Jude Medical Inc., Sonova Holding AG, Stryker Corporation, TTK Healthcare Ltd., Terumo Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings Inc.

The research report titled "Artificial Implants: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World.

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