Active medical implants form a
significant portion of the overall implants domain. The most common forms of
implantable medical devices are prosthetic devices such as artificial organs,
defibrillators, reconstructive joints, spinal implants, intraocular implants,
breast implants and others. Implantable medical devices serve two major
functions namely, application of a therapy from the inside of an organ and
monitoring of the parameters and signals of the functioning of an organ for the
optimization of treatment.
The U.S.
Implantable Medical Devices Market is estimated to account for US$ 86,446.3
Mn in terms of value in 2020 and is expected to reach US$ 150,299.3 Mn by the
end of 2027.
U.S. Implantable Medical Devices
Market: Drivers
Increasing approval and launch of
new products is expected to propel growth of the U.S. implantable medical
devices market over the forecast period. For instance, in April 2020, Axonics
Modulation Technologies, Inc. received the U.S. Food & Drug Administration
approval for its next generation rechargeable implantable neurostimulator for
its r-SNM System under a premarket approval supplement.
U.S. Implantable Medical Devices Market:
Opportunities:
Use of additively manufactured
and commercially pure biomaterials in medical implants is expected to offer
lucrative growth opportunities for players in the market. For instance, in
April 2020, researchers from University Medical Centre Utrecht, The
Netherlands, reported that bony defects treated with additively manufactured
commercially pure titanium implants demonstrated higher volumes of regenerated
bone as compared to those treated with commonly used titanium alloy.
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U.S. Implantable Medical Devices
Market: Restraints
Increasing recall of products is
expected to hinder growth of the market. For instance, in February 2019,
Medtronic Plc received FDA product recall for implanted cardiac pacemakers,
which affected 13,440 devices manufactured and distributed between March 2017
and January 2019.
Key Takeaways:
The U.S. implantable medical
devices market was valued at US$ 79,942.0 Mn in 2019 and is forecast to reach a
value of US$ 150,299.3 Mn by 2027 at a CAGR of 8.2% between 2020 and 2027.
Factors such as increasing prevalence of cardiovascular and orthopaedic
ailments, and developments in implantable medical devices technology
Orthopedic Implants held dominant
position in the U.S. implantable medical devices market in 2019, accounting for
51.6% share in terms of value, followed by cardiovascular implants and others,
respectively. Increasing prevalence of orthopaedic diseases is expected to
support growth of the segment over the forecast period. Moreover, product
launches in orthopaedic implants segment is further expected to propel growth
of the segment.
Market Trends
R&D in medical implants is
expected to aid in growth of the market. For instance, in December 2019,
researchers from Tufts University, U.S., reported a novel thermal processing
method for the direct solid-state molding of regenerated silk into bulk devices
with tunable mechanical properties.
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Orthobiologics are those
substances, which are used for quick healing of bone injuries. These materials
are highly instrumental in repairing bone injuries and damages to tendons,
muscles and ligaments. Orthobiologic products are made of certain substances
already present in the human body. The U.S. is viewed as the largest market for
orthobiologics, owing to increasing geriatric population
U.S. Implantable Medical Devices
Market: Competitive Landscape
Major players operating in the
U.S. implantable medical devices market include Abbott Laboratories, Alcon
Laboratories, Biomet Incorporated, Bausch and Lomb Incorporated, Boston
Scientific Corporation, Johnson and Johnson, Medtronic Incorporated, St. Jude
Medical Incorporated, Smith and Nephew PLC, Stryker Corporation, Synthes
Incorporated, and Zimmer Holdings Incorporated.
U.S. Implantable Medical Devices
Market: Key Developments
April 2020: Exogenesis
Corporation established nanoMesh LLC, a new subsidiary focused on
commercialization of the Exogenesis Hernia Mesh, an innovative soft tissue
repair implant
March 2020: Establishment Labs
Holdings Inc. received the U.S. Patent protecting its proprietary breast
implant surface technology
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