“Rising Prevalence of Chronic Diseases Dynamic Demand for Implantable Medical Devices”
Fact.MR, a market research and competitive intelligence, predicts that the market for implantable medical devices will grow at a CAGR of 6.1% from 2022 to 2027.
Medical implants are devices that are used to replace, support, or act as a specific bodily part or a section of a biological structure. Each year, thousands of patients have surgery to fix or remove implantable medical devices in an effort to improve their quality of life. Currently, implants are used in many different parts of the body for a wide range of functions.
A few of the reasons influencing market expansion are the rapidly ageing population, rising prevalence of chronic diseases, and technological developments in implantable medical devices. The market is also expanding as a result of increased consumer knowledge of the uses for advanced medical device technologies and neurostimulator devices.
Using surgical or medical techniques, implants are either totally or partially placed into human bodies. The device may be inserted either permanently or temporarily, then removed, depending on the circumstance. As people have lived longer, age-related illnesses have become more common.
The demand for various life-extension medical technologies, such as innovative therapies, implants, prostheses, and long-term pharmaceutical use, has increased as a result. Implantable devices can be made from a variety of materials, such as tissues, metals, bones, polymers, skin, and ceramics.
The global implantable medical devices market is projected to reach $1755 Bn by 2027, growing at a CAGR of 6.1% from 2022 to 2027
