Active medical implants form asignificant portion of the overall implants domain. The most common forms ofimplantable 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 majorfunctions namely, application of a therapy from the inside of an organ andmonitoring of the parameters and signals of the functioning of an organ for theoptimization of treatment.
The U.S.Implantable Medical Devices Market is estimated to account for US$ 86,446.3Mn in terms of value in 2020 and is expected to reach US$ 150,299.3 Mn by theend of 2027.
U.S. Implantable Medical DevicesMarket: Drivers
Increasing approval and launch ofnew products is expected to propel growth of the U.S. implantable medicaldevices market over the forecast period. For instance, in April 2020, AxonicsModulation Technologies, Inc. received the U.S. Food & Drug Administrationapproval for its next generation rechargeable implantable neurostimulator forits r-SNM System under a premarket approval supplement.
U.S. Implantable Medical Devices Market:Opportunities:
Use of additively manufacturedand commercially pure biomaterials in medical implants is expected to offerlucrative growth opportunities for players in the market. For instance, inApril 2020, researchers from University Medical Centre Utrecht, TheNetherlands, reported that bony defects treated with additively manufacturedcommercially pure titanium implants demonstrated higher volumes of regeneratedbone as compared to those treated with commonly used titanium alloy.
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U.S. Implantable Medical DevicesMarket: Restraints
Increasing recall of products isexpected 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 2017and January 2019.
Key Takeaways:
The U.S. implantable medicaldevices market was valued at US$ 79,942.0 Mn in 2019 and is forecast to reach avalue 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 orthopaedicailments, and developments in implantable medical devices technology
Orthopedic Implants held dominantposition in the U.S. implantable medical devices market in 2019, accounting for51.6% share in terms of value, followed by cardiovascular implants and others,respectively. Increasing prevalence of orthopaedic diseases is expected tosupport growth of the segment over the forecast period. Moreover, productlaunches in orthopaedic implants segment is further expected to propel growthof the segment.
Market Trends
R&D in medical implants isexpected to aid in growth of the market. For instance, in December 2019,researchers from Tufts University, U.S., reported a novel thermal processingmethod for the direct solid-state molding of regenerated silk into bulk deviceswith tunable mechanical properties.
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Orthobiologics are thosesubstances, which are used for quick healing of bone injuries. These materialsare highly instrumental in repairing bone injuries and damages to tendons,muscles and ligaments. Orthobiologic products are made of certain substancesalready present in the human body. The U.S. is viewed as the largest market fororthobiologics, owing to increasing geriatric population
U.S. Implantable Medical DevicesMarket: Competitive Landscape
Major players operating in theU.S. implantable medical devices market include Abbott Laboratories, AlconLaboratories, Biomet Incorporated, Bausch and Lomb Incorporated, BostonScientific Corporation, Johnson and Johnson, Medtronic Incorporated, St. JudeMedical Incorporated, Smith and Nephew PLC, Stryker Corporation, SynthesIncorporated, and Zimmer Holdings Incorporated.
U.S. Implantable Medical DevicesMarket: Key Developments
April 2020: ExogenesisCorporation established nanoMesh LLC, a new subsidiary focused oncommercialization of the Exogenesis Hernia Mesh, an innovative soft tissuerepair implant
March 2020: Establishment LabsHoldings Inc. received the U.S. Patent protecting its proprietary breastimplant surface technology
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