Expansion of Global Smart Medical Implants Market Expected to Achieve US$ 24.8 Billion by 2031, with a Compound Annual Growth Rate (CAGR) of 18.1%: TMR Report

Rise in demand for personalized healthcare and precision medicine and surge in disposable income are likely to offer lucrative opportunities to players in the global smart medical implants industry

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&ltype=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 SawlaniTransparency Market Research Inc.CORPORATE HEADQUARTER DOWNTOWN,1000 N. West Street,Suite 1200, Wilmington, Delaware 19801 USATel: +1-518-618-1030USA – Canada Toll Free: 866-552-3453Website: https://www.transparencymarketresearch.com Blog: https://tmrblog.com Email: [email protected]