Implantable Medical Devices Market Analysis

Product (Cardiovascular, Ophthalmology, Orthopedic, Plastic Surgery, Dental, Neurology)

Cardiovascular segment is poised to account for more than 31% implantable medical devices market share by the end of 2036 driven by the increasing prevalence of several cardiovascular diseases in the population worldwide. According to a report by the World Health Organization in 2021, it was estimated that more than 17.9 million people died in 2019 attributed to cardiovascular diseases; this data registers a share of about 32% of global deaths.

Additionally, there is also an increase in technological advancements; increasing investments, coupled with the surge in the geriatric population, would help the cardiovascular segment dominate this implantable medical devices market expansion. The increase in such technological advancements has fueled the revenue share while improving the safety features, which makes them a better option for consumers.

Material (Stainless Steel, Titanium, Cobalt-Chromium Alloys, Titanium Alloys, Zirconium)

The stainless-steel segment is estimated to gain a robust implantable medical devices market share owing to the highly durable, resilient, and stable material, which makes it one of the most commonly, used materials for implantable medical devices. Stainless steel is a very resistant material, with a high strength and ability to withstand pressure, making it ideal for use in the human body.

According to a report, stainless steel 304 is regarded globally as the most suited material for the manufacturing of medical devices. Furthermore, stainless steel has a high resistance to corrosion and oxidization, which is a crucial factor in maintaining the long-term stability and reliability of implantable medical devices.

Nature of Device (Active, Passive)

The Active segment in the implantable medical devices market is estimated to exhibit around 9.2% CAGR till 2036. The reason behind this impact is projected by the increase in several devices such as defibrillators, ventricular assist systems, infusion pumps, pacemakers, and many more.

According to a report by the National Institutes of Health in 2021, from 2012 to 2018 there was an increase in public awareness regarding the knowledge of how to use Automated External Defibrillators (AED) grew from 4.7% to 20.8%.

Our in-depth analysis of the implantable medical devices market includes the following segments: