Medical implants are devices or medically grafted tissues placed on the surface of body parts. Primarily, these prosthetic implants are used to replace the missing part of the body such as knee, hips, teeth, and breast. Other uses of implants are to provide medication, support to the organs or body tissues, and monitor overall body functions. Advancements in techniques have made possible manufacture of some of the implants from skin, body tissues, or bones. These are also made from other materials such as metal, plastics, and ceramics. These next generation implants can be replaced permanently or removed when no longer required. For instance, hip implants and stents are supposed to be or intended to be permanent implants. On the other hand, screws, chemotherapy ports, dental implants, and bridges are normally removed when no longer needed.
The global next generation implants market is expected to grow rapidly driven by increase in lifestyle diseases, aging population, rise in health care related awareness, sedentary lifestyle, improved access to health care, especially medical devices and infrastructure. According to a WHO (World Health Organization) 2015 report, there are over 1100 million people in the world aged above 50, of these approximately 720 million are from emerging economies. This situation can increase demand for ophthalmic, orthopedic, cardiovascular and orthodontic implants. Improving trauma care, sedentary lifestyle, advancements in implant technologies, and reimbursement policies are the other factors driving the global next generation implants market. Use of biomaterials in the manufacture of implants is one of the key factors propelling the global next generation implants market. On the other hand, high cost of implants, overall treatment and surgical procedures and proportional rise in failed implant procedures and techniques are factors hampering the growth of the global next generation implants market. The implants market is considered to be stable due to increasing patient needs. However, strict regulatory guidelines and policies for product approval are likely to restrain the next generation implant market.
The global next generation implants market can be segmented based on product, material, end-user, and region. In terms of product, the market can be segmented into hip replacement, knee replacement, spinal & surgical replacement, foot drop implants, dental implants, and others. Based on material, the next generation implants market can be segmented into metal-on-metal, metal-on-polyethylene, ceramic-on-metal, ceramic-on-polyethylene, plastics, ceramic-on-ceramic, and others. In terms of end-user, the global market can be segmented into hospitals, ambulatory surgical centers, orthopedic clinics, academic & research institutes, and others.
Geographically, the global next generation implants market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the market due to focus on research and development, rise in health care spending, and growth in awareness about health, hygiene, and abnormality. The sluggish economy due to Brexit could have an adverse impact on market growth in Europe. Asia Pacific is anticipated to record the fastest growth, as this region is predominantly driven by Japan, India, and China. Rising disposable income, rise in demand, increase in geriatric population are the factors expected to subsidize the growth of the Asia Pacific market.
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Key players operating in the global next generation implants market include Finetech Medical, Wright Medical Group N.V., Shanghai MicroPort Orthopedics, Arthrex, Inc., B. Braun Melsungen AG, Exactech, Inc., DJO Global, Inc., Johnson & Johnson, Zimmer Biomet, Bioness, Inc., Stryker Corporation, Ottobock, Narang Medical Limited, and PONTiS Orthopaedics, LLC.