Asia Pacific accounted for the fastest-growing region of the global implantable medical devices market. North America accounted for the largest share of the global implantable medical devices market in 2022. In the region, the US held the largest implantable medical devices market. The US is estimated to hold the largest implantable medical devices market share from 2022 to 2030. Rising incidence of neurological diseases such as Parkinson’s disease, increasing awareness about neurological disorders, and growing investments in developing transcranial stimulators are among the main factors driving the overall implantable devices market in the US. Low dopamine readings and other genetic factors are among the leading causes of Parkinson’s disease. According to a study titled “2022 Alzheimer’s Disease Facts and Figures,” published in the Alzheimer’s Association, approximately 6.5 million Americans aged 65 and above were diagnosed with Alzheimer’s disease in 2022. The number is projected to rise to 13.8 million by 2060. According to the Brain Aneurysm Foundation’s data published in 2019, in the US, ~6 million people had unruptured brain aneurysms. Also, the annual rupture rate is nearly 8–10 per 100,000 people; ~30,000 people in the US suffer from a brain aneurysm rupture. Deep brain stimulation (DBS) devices have been observed to control the tremors associated with Parkinson’s disease effectively.

According to the Parkinson’s Foundation, ~1 million people in the US suffer Parkinson’s disease, which is expected to increase to 1.2 million by 2030. Technological advancements and new product launches drive the implantable medical devices market. In January 2020, Abbott’s Infinity DBS System received approval from the USFDA for treating Parkinson’s disease. This system allows for the targeted treatment of a specific area of the brain, called the inner globus pallidus (GPi), which is associated with the symptoms of Parkinson’s disease. Therefore, the increasing prevalence of neurological disorders and technological advancements fuel the implantable medical device market growth in the US.

Growing Areas of Application of Implantable Medical Devices Drives Implantable Medical Devices Market Growth

Medical implants are devices positioned inside the body; these devices are used to replace missing body parts, deliver medication, monitor body functions, or support organs and tissues. Implantable medical devices are important to healthcare as they completely increase patients’ safety and quality of life. Many implantable medical devices monitor blood pressure and irregular heartbeat, which help alert medical specialists for signs of criticality and also direct individuals toward appropriate care. A few widely used implants are pacemakers, defibrillators, cardiovascular stents, neural prosthetics, and drug delivery systems.

According to an article titled “Bone Health 2022,” osteoporosis causes more than 8.9 million fractures every year, leading to an osteoporotic fracture every 3 seconds worldwide. Patients suffering bone fractures in different body parts require implants that will enable a function similar to that of the natural bone they are replacing. Joint diseases (rheumatoid arthritis and osteoarthritis) also require surgical intervention with hip and knee replacement implants. Biomaterial implants are used to fix fractures or replace parts of the body. For most of these implant cases, either metal or polymer biomaterials are preferred for their similar functional capacity to the original bone material.

Moreover, according to the WHO, nervous disorders contribute to ∼6.3% of the global disease burden. Also, according to the same source, nervous disorders are one of the leading causes of death worldwide. They cause 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries. High mortality and disease burden necessitate the clinical urgency for integrating long-term solutions. Furthermore, growing awareness regarding the tremendous burden of neurological disorders has increased the demand for neurostimulators.

Per World Cancer Research Fund International, breast cancer is the most common cancer in women in developed and developing countries. In 2020, there were more than 2.2 million new breast cancer cases in women 2020. Per the Breast Cancer Research Foundation, it is projected that in 2023, in the US, ~297,000 women are likely to be diagnosed with breast cancer, making it the most common type of cancer in American women. Breast implants are medical devices that are implanted under the breast tissue or chest muscle to boost breast size (augmentation) or replace breast tissue removed due to cancer. Therefore, the rising application of medical implant devices in breast cancer, neurological disorders, and osteoporosis drives the growth of the implantable medical device market.

Implantable Medical Devices Market: Segmental Overview

The global implantable medical devices market is categorized on the basis of nature type, product type, material type, application, and end user. Based on nature type, the implantable medical devices market is bifurcated into active implant and passive implant. Based on product type, the implantable medical devices is divided into diagnostics and treatment. Based on material type, the market is segmented into metallic, ceramics, and polymers. In terms of application, the implantable medical devices market is segmented into cardiovascular implants, orthopedic implants, cardiovascular implants, breast implants, prosthetics implants, brain implants, and others. In terms of end user, the market is categorized into hospitals, specialty clinics, ASCs, and others.

Implantable Medical Devices Market: Competitive Landscape and Key Developments

Abbott Laboratories, Boston Scientific Corp, Dentsply Sirona Inc, Johnson & Johnson, Medtronic Plc, Institut Straumann AG, Smith & Nephew Plc, BIOTRONIK SE & Co KG, LivaNova Plc, and MED-EL Elektromedizin Gerate GmbH are a few key companies operating in the implantable medical devices market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in the implantable medical devices market.

A few of the recent developments in the global implantable medical devices market are mentioned below:

• In July 2023, Abbott announced that the US Food and Drug Administration (FDA) has approved the AVEIR dual chamber (DR) leadless pacemaker system, the world’s first dual chamber leadless pacing system that treats people with abnormal or slow heart rhythms. With more than 80% of people who need a pacemaker requiring pacing in two chambers of the heart (both the right atrium and right ventricle), the approval significantly increased access to leadless pacing for millions of people across the US.
• In June 2023, Smith+Nephew announced that it received 510(k) clearance from the US Food and Drug Administration (FDA) for its AETOS Shoulder System.
• In January 2023, Abbott announced that the US Food and Drug Administration (FDA) has approved its Proclaim XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes. The Proclaim XR SCS system can relieve DPN patients needing alternatives to traditional treatment approaches, such as oral medication. People who receive therapy from the Proclaim XR SCS system can also use Abbott’s NeuroSphere Virtual Clinic. This connected care app allows people to communicate with physicians and receive treatment adjustments remotely.
• In January 2022, Smith+Nephew announced the acquisition of Engage Surgical, owner of the only cementless unicompartmental (partial) knee system commercially available in the US. This acquisition strongly supports Smith+Nephew’s strategy for growth by transforming its business through innovation while also providing differentiation for its customers.