The Global Implantable Medical Devices Market Size was valued at USD 102.8 Billion in 2023 and is anticipated to reach USD 190.1 Billion by 2032 with a CAGR of 7.1% from 2024 to 2032.

Implantable medical devices are intended to be placed inside the human body for a stated length of time and for a stated purpose – either to enhance the performance of certain organs or tissue, to measure or record certain physiological processes, or to deliver certain medications. Some of these devices act as body organs’ replacements for their original functioning parts that may have been impaired. These are usually made of biological tissue or certain types of metals, plastics, and ceramics.

Active implantable medical devices in contrast to passive ones, are powered by an energy source different from the wearer’s body or gravity, but for example a battery. These are used in many functions like supporting Ceramic functions and they are designed to be left on the body after surgery or medical implantation.

Implantable Medical Devices Market Dynamics

The growing prevalence of chronic diseases such as heart failure, arthritis, and motor, sensory, or cognitive impairments that require implants to sustain patient lives is a key factor driving market growth. For instance, a 2022 article titled Commentary on Chronic Disease Prevention in 2022 shown that more than half the adult Americans suffer from a chronic disease. Conditions such as diabetes, cancer, heart diseases, are still the major causes of death in the United States. Furthermore, in 2020, GLOBOCAN estimated new cancer incidence to 2,281,658, and 612 390 cancer-related deaths in U.S.

However, according to the International Diabetes Federation, approximately 537 million people or one-tenth of the world’s adult population had diabetes in 2021, this could reach 643 million people in 2030 and 783 million people in 2045. This steep rise is also largely contributing to the growth of implantable medical devices, especially those that are used in diabetes care, including CGM and insulin delivery devices. Moreover, the continuously increasing population of elderly people that are vulnerable to chronic diseases is providing more options for market growth.

The medical Implantable devices play a crucial role in chronic diseases, locomotive disorders, and thus, improving the quality of life. For instance, hip and knee replacements help to improve mobility and eliminate the pain in a patient with osteoarthritis, who will be able to live a normal, healthy life. Likewise, these devices are on the increase in managing neurological diseases like Parkinson’s disease and epilepsy.

According to the Parkinson’s Foundation in its 2022-23 article, around 90,000 people are newly diagnosed with Parkinson’s each year in the United States and about 962,000 people have Parkinson’s disease at present. Implanted neurostimulation devices that use electric currents to stimulate parts of the brain or nerves are useful to control symptoms such as tremors or seizures. Such developments do not only improve patients’ activities of daily living but also lead to better quality of life.

It is important to note that implantable medical devices can be vital for patient’s life, providing pain relief, restoring mobility, and generally improving patient’s quality of life. But their use is tied with several drawbacks, more prominently the possible post operations Polymers implant related complications. Such are fixation fractures complications, device related failures, and arthroplasty complications which include joint dislocation in region like the shoulder, elbow, hip, knee and the like.

However, like all surgical operations, the following potential complications may occur: implant rejection by the body, joint implant infections, blood clot formation, implant loosening, and neuroNatural injuries. These complications justify the call for better materials, enhanced methods of treatment, and careful after-surgery management in order to enhance the successes while reducing the adverse effects.

Global Implantable Medical Devices Market Segment Analysis

Implantable Medical Devices Market By Product

·       Cardiovascular Implants

·       Polymers Implants

·       Ophthalmology Implants

·       Dental Implants

·       Aesthetic Implants

·       Neurology Implants

The cardiovascular implants segment represented the largest market share and was the leading segment in the Implantable Medical Devices Market in 2023. This dominance is attributed to the increase in cases of cardiovascular diseases (CVD) across the global including coronary artery diseases, heart failure and arrhythmias which in turn will foster the demand of pacemakers, defibrillators and stents. Based on statistics from leading health organizations, cardiovascular diseases continue to be the major contributor to mortality worldwide adding on to the demand for new implantable technologies.

Further, there have been new technology developments in cardiovascular implant, including bioresorbable stents for patients and leadless pacemaker, boosting the growth of the segment. Besides, the continuously growing geriatric population base that is prone to CVDs, enhanced healthcare access and reimbursement policies have worked hand in hand to contribute significantly to the establishment of cardiovascular implant market.

Implantable Medical Devices Market By Biomaterial

·       Ceramic

·       Metallic

·       Polymers

·       Natural

According to the global implantable medical devices industry analysis, metallic biomaterial was identified as dominating the market in 2023. These are titanium, stainless steel and cobalt-chromium alloys which are favored in implant manufacturing because of their mechanical strength, compatibility with human tissues and resistance to corrosion. These properties make metallic biomaterials suitable for orthopedic, dental and cardiovascular implant applications where long life and reliability are necessary.

Another factor that contributes to the use of metallic biomaterials is the development of surface engineering including coating with bioactive factors that improve integration of the implanted material with the local tissues and thus increases the likelihood of accepting the metallic biomaterial. Also, increasing the number of patients suffering from chronic diseases that need implants, for instance, joint replacement and cardiac procedures, has bolstered this segment’s market dominance.

Implantable Medical Devices Market By End Use

·       Hospitals

·       Outpatient Facilities

·       Specialty Clinics & Centers

The hospitals segment is anticipated to generate a large market share of implantable medical devices during the course of the forecasted period of 2024-2032. Hospitals continue to act as the main locations for invasive treatments and surgeries that require implants, including cardiac implants, orthopedic replacements and neurostimulators. The element of hi-tech instruments, skilled professionals, and extensive looking after the patients has made the hospital the best place for such surgeries.

Also, as the surgeries are being performed on more chronic diseases and the population is aging, the dominance of this segment can also be explained. Rising healthcare expenditure, better medical technologies, and the government’s efforts to improve the infrastructure of hospitals across the world are other factors that will help the segment to grow during the forecast period.

Implantable Medical Devices Market Regional Analysis

The market was dominated by North America in the year 2023 and is expected to remain the same in the future owing to its key automotive industries and early adoption of electric cars. Secondly, Europe has been forecasted to be the second biggest market for Battery as a Service owing to supportive government policies in relation to use of electric automobiles and strengthened automotive sector.

The Asia-Pacific region is anticipated to grow at a healthy rate during the course of the forecast period, primarily due to increasing demand of electric vehicles in major countries, including China and India. However, the market share of South America and Middle East & Africa is expected to have a comparatively smaller value due to having mild electronization of automobile and less advancement of electric vehicles.

Implantable Medical Devices Market Leading Companies

The Implantable Medical Devices market players profiled in the report is Abbott Laboratories, Boston Scientific Corporation, Biotronik SE and Co. KG, Cochlear Limited, Integra LifeSciences, Johnson and Johnson, LivaNova PLC, Medtronic, Smith & Nephew plc, and Stryker.

Implantable Medical Devices Market Regions