Artificial Implants Market: Key Insights
The artificial implants market is driven due to increasing prevalence of chronic diseases, technological advancements in medical devices, and growing demand for minimally invasive surgical procedures. The rise in aging population and growing awareness about the benefits of artificial implants are also expected to drive the overall market growth.
However, the high cost of artificial implants and the need for regular replacements are likely to hamper the market growth. Additionally, the risk of implant failure and the need for frequent monitoring can also hinder the market growth. The need for more trained professionals and the lack of insurance coverage for some of these procedures can also limit the market growth.
In terms of product type, the market is segmented into orthopedic implants, cardiovascular implants, ophthalmology implants, and dental implants. The orthopedic implants segment is anticipated to hold the largest market share due to the increasing incidence of orthopedic conditions and the growing demand for joint replacement procedures.
Grown Incidence of Disabilities and Organ Failures to Drive Artificial Implants Market
The growing incidence of disabilities and organ failures is driving the growth of the artificial implants market. The rising chronic disease conditions and the incidence of disabilities and organ failures is expected to aid the artificial implants market during the forecast period. This drives the demand for artificial implants as a treatment option for these conditions. For instance, the increasing incidence of cardiovascular diseases drives the demand for cardiovascular implants, such as pacemakers and stents.
Similarly, the growing incidence of orthopedic conditions drives the demand for orthopedic implants, such as joint replacements and spinal implants. The increasing incidence of ocular disorders and vision loss drives the demand for ophthalmology implants, such as intraocular lenses and corneal implants. Similarly, the growing incidence of dental conditions drives the demand for dental implants.
Overall, the growing incidence of disabilities and organ failures is a key factor driving the growth of the artificial implants market. It leads to increased demand for these devices as a treatment option for these conditions.
Artificial Implants Market: Segmental Overview
The global artificial implants market is segmented on the basis of type and end user. Based on type, the artificial implants market is segmented as orthopedic implants, cardiac implants, dental implants, and cochlear implants. On the basis of the orthopedic implants, the artificial implants market is segmented into spinal implants, hip implants, knee implants, and extremities implants. The market on the basis of end user has been classified into hospitals & clinics, orthopedic centers, dental laboratories, and others.
Based on type, the dental implants segment is expected to witness substantial growth during the forecast period. The dental implants market is rising due to several factors, such as increasing awareness about the benefits of dental implants, the growing incidence of dental conditions, and technological advancements in dental implants. The increasing demand for cosmetic dentistry procedures and the growth in aging population also contributes to the dental implants market growth. Furthermore, implant materials and design advancements have made dental implants more durable, long-lasting, and aesthetically pleasing, driving their popularity as a treatment option for missing or damaged teeth. Increasing insurance coverage for dental implant procedures is also expected to drive the overall market growth.
Artificial Implants Market: Competitive Landscape and Key Developments
Asahi Kasei Medical Co. Ltd, Boston Scientific Corporation, ABIOMED, Berlin Heart, BIOTRONIK, Inc., Bicon, LLC, Exactech, Inc., Cochlear Ltd., Zimmer Biomet, and B. Braun Melsungen AG among the key players operating in the artificial implants market. These companies have a widespread presence worldwide, which provides lucrative opportunities to serve a large number of customers and expand the market.
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