Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global smart medical implants market is projected to flourish at a CAGR of 18.1% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 24.8 billion is anticipated for the market in 2031. As of 2023, the market for smart medical implants is expected to close at US$ 6.7 billion
The rapidly growing geriatric population, increased prevalence of chronic diseases, and technological advancements in medical implantable devices are the main factors contributing to market growth.
Increased demand for minimally-invasive surgical methods and increasing healthcare expenditure, especially in developed countries, support the adoption of advanced medical technologies, including smart medical implants, to improve patient care.
Rapid urbanization, rising levels of disposable income among the population, and significant research and development efforts by key competitors are some of the other factors driving market demand.
Increasing technological advances in smart implants as they can incorporate user interfaces or smartphone apps that provide patients with information on their progress, exercise recommendations, and reminders for medication or therapy adherence, these advances to contribute to the increased demand for smart medical implants
For more insights into the Market, Request a Sample of this Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85785
“Connect with our team of research specialists and unlock the optimal solution for driving your business growth”
Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 5.7 Bn | |
| Estimated Value | More than US$ 24.8 Bn | |
| Growth Rate - CAGR | 18.1% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 186 Pages | |
| Market Segmentation | Application, End-user | |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa | |
| Companies Covered | Medtronic, Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson, Siemens Healthineers, Smith & Nephew, Stryker Corporation, Zimmer Biomet, Cochlear Limited,Dexcom, St. Jude Medical (Abbott Laboratories), Edwards Lifesciences, Biotronik, Second Sight Medical Products, Cyberonics (LivaNova) | |
Key Takeaways from the Market Study
- As of 2022, the smart medical implants market was valued at US$ 5.7billion
- By application, the COPD segment to enjoy high demand, accumulating a high revenue share during the forecast period
- Based on product, the mouthpieces & oxygen masks product segment is anticipated to dominate the industry during the forecast period
- Based on end-user, the hospital segment is expected to generate high revenue during the forecast period, due to the increased demand for respiratory disposables from hospital settings
Smart Medical Implants: Key Trends and Opportunistic Frontiers
- With The increasing demand for personalized medicine and patient-centric care the demand for smart medical implants increases to provide targeted treatments.
- The increasing consumer spending on medical implants and acceptance of smart implantable devices among both healthcare professionals and patients, driving the growth of the smart medical implants market during the forecast period.
- Manufacturers are focusing on the development of advanced products with improved battery life of smart implants, ensuring that they can operate for extended periods without the need for frequent replacements or recharging.
For In-depth Competitive Analysis, Buy Now: https://www.transparencymarketresearch.com/checkout.php?rep_id=85785<ype=S
Smart Medical Implants Market – Regional Analysis
- North America leads the smart medical implants market owing to several elements such as the increased rate of orthopedic implants, and expanding use of aesthetic dental procedures. The presence of significant market participants, technological innovations, and the development of next-generation smart medical implants, drive the market growth in the region.
- Asia Pacific is expected to account for a significant market share in the smart medical implants market owing to the increased disposable income, and increased government and corporate investments in the development of cutting-edge healthcare infrastructure. Rising adoption of minimally-invasive operations, and improved public awareness and availability of various medical implants, support the market growth.
Competitive Landscape
The smart medical implant market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global smart medical implant market report:
- Ibex Medical Analytics
- EarlySign
- Cancer Center.ai
- Microsoft
- Flatiron
- Path AI
- Therapixel
- Tempus
- Paige AI, Inc.
- Kheiron Medical Technologies Limited
- SkinVision
- Freenome
- Whiterabbit.ai
- Mindpeak GmbH
Key Developments in the Smart Medical Implants Market
- Medtronic developed the Micra Transcatheter Pacing System, a leadless pacemaker that eliminates the need for pacing leads, enhancing patient comfort and reducing complications. Continues to research and develop innovative cardiac and neurological implants with smart capabilities.
- Abbott Laboratories - Introduced the CardioMEMS Heart Failure System, an implantable pulmonary artery pressure sensor that enables remote monitoring and early detection of heart failure symptoms. Focuses on developing advanced cardiovascular and neuromodulation devices with connectivity and monitoring features.
Request for Customization and Redefine Expectations: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=85785
Smart Medical Implants Market
Application
- Orthopedic Implants
- Smart Joint Implants
- Smart Spinal Implants
- Smart Bone Plates
- Smart Orthopedic Screws
- Others
- Cardiovascular Implants
- Smart Pacemakers
- Smart Implantable Cardioverter-Defibrillators (ICDs)
- Smart Cardiovascular Stents
- Smart Cardiac Monitors
- Ophthalmic Implants
- Smart Intraocular Lenses (IOLs)
- Smart Retinal Implants
- Smart Glaucoma Implants
- Dental Implants
- Smart Prosthetic Teeth
- Smart Dental Screws
- Drug-eluting Dental Implants
- Others
- Others
End-user
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Research Institutes and Academic Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Read More Related Reports:
Optical Lens Edger Market Growth Analysis, Future Scenario 2023-2031
Orthopedic Fracture Repairing Implants Market Size, Growth Analysis, Future Scenario 2023-2031
Healthcare Informatics Industry Growth Analysis [2023-2031] | Industry Share, Trends
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
