Tissue Level Implant Market Segmented By Cardiovascular Implants, Dental Implant, Breast Implant, Facial Implant, Orthopaedic Implants Product Type in Ceramics, Polymers, Biologics, Metals Material with Fixed and Removable Modality
Industry: Healthcare
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Report Type: Ongoing
Report ID: PMRREP32580
According to the latest research by Persistence Market Research, tissue level implant market is set to witness 7.2% growth during the forecast period 2021-2031. This growth will be experienced due to the rising prevalence of road accidents and technological advancement. Therefore, the growth in tissue level implant will be expected at a high CAGR.
Implant is manufactured to replace a missing biological part, support any damaged biological part, or enhance the working of any biological structure. With increasing population, the road traffic is also increasing manifold which results in enhancing the occurrence of road accidents and road traffic injuries. In 2020 according to WHO, 20 to 50 million people injured due to road accidents that can lead to disabilities. It leads to an increase in the demand for tissue level implant.
Furthermore, the advancement in technology plays a crucial role in increasing the demand for the tissue level implant. The rise in tissue engineering and regeneration, and use of prosthetics to increase the life expectancy of patients. All these factors are expected to enhance the market of tissue level implant during the forecast period from 2021 to 2031.
Advancement in technology has been resulting in the development and introduction of new and advanced medical implants to simplify implantation procedure and provide ease to the patients in performing various activity after implantation.
Some advances made in the field of tissue level implant are like the use of wireless smartphone or computer to observe the changes in a biological sense. It also helped the doctors to monitor and access the generated data.
An increase in the population of above 65 years of age also going to contribute to increasing the demand for tissue level implant due to the rising prevalence of chronic diseases like cardiovascular disease and osteoporosis.
According to the Journal of American College of Cardiology, there were 523 million cases of cardiovascular disease in 2019 worldwide. These factors going to enhance the demand for tissue level implant during the forecast period.
U.S. and Canada will remain the leading players in the tissue level implant market worldwide. This is primarily due to the presence of key players and technological advancement in the region. According to WHO, every year U.S. spend 17% of its GDP on healthcare. Leading manufacturers of implants and medical devices are from U.S. that benefits the tissue level implant market to grow in that region.
Also, in U.S. the population of people of 65 and above age is high. According to U.S. Census Bureau, 54 million population of U.S. were of 65 and above age in 2019. Therefore, these factors helped the tissue level implant market to grow significantly in the region during the forecast period from 2021 to 2031.
In the last few years especially after the pandemic outbreak in 2020, the EU keep expanding its healthcare sector to meet the demand of the increasing population and older adults of 65 and above age because older adults are more prone to various chronic diseases. According to WHO, 20% population comprises of 65 and above age in Europe in 2020 that is approximately equal to 91 million.
Also, for the growth of any medical device or healthcare-related products, advancement in the technology and R&D is required. This advancement is possible only when the countries are spending on their healthcare sector. According to WHO, Europe spent 10% of its GDP on healthcare and medical technologies. All these factors will increase the growth of tissue level implant in the region during the forecast period.
Some of the key players of tissue level implant are
They follow strategies like merger & acquisition, new product launch and others. For instance, Medtronic acquired Medicrea in 2020 which make it the leading company in spinal surgery through artificial intelligence and patient-specific implants.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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