Implantable Medical Devices Market was valued at US$ 37,700.8 Mn in 2018 and is anticipated to expand at a CAGR of 4.6 % from 2019 to 2027, increase in prevalence of coronary arterial diseases, rise in demand for minimally invasive procedures and rise in geriatric population are projected to drive the market
Transparency Market Research (TMR) has published a new report titled, ‘Implantable Medical Devices
Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to
the report, the global implantable medical devices market was valued at US$ 37,700.8 Mn in 2018 and is
projected to expand at a CAGR of 4.6% from 2019 to 2027. In terms of volume, the implantable medical
devices were accounted at 10,712,732 units in 2018.
An implantable device, according to the U.S. FDA, is “a device that is placed into a surgically or
naturally formed cavity of the human body, if it is intended to remain there for a period of 30
days or more”.
Metals and their alloys have been utilized in the manufacture of implants since the development
of first implantable device
Rise in demand for minimally invasive procedures, aging population, high obesity rates, and high
purchasing power of the population are anticipated to drive demand for implantable medical
devices during the forecast period.
North America dominated the global implantable medical devices market in 2018 and the trend
is anticipated to continue during the forecast period. Well-established health care
infrastructure, availability of reimbursements, and introduction of the Affordable Care Act in the
U.S. are expected to drive the market in North America.
Asia Pacific is likely to be a highly lucrative market for implantable medical devices and it is
expected to expand at a high CAGR during the forecast period
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Rise in Demand for Minimally Invasive Procedures to Driven the Market
Patients prefer minimally invasive surgery as it includes lesser post-surgery complications and
side effects, and shorter recovery time. Therefore, minimal invasive nature of interventional
cardiology acts as a driver of the market
The minimal invasive nature of these surgery procedures influences the decision making o