Research report covers the Retinal Implants Market Forecasts and Growth, 2020-2027

 Global Retinal Implants Market size likely to exhibit a healthy growth over the next couple of years. Retinal implants have emerged as an innovative technology in the field of ophthalmology. They are being used for improving eyesight of people with partial or complete blindness. The technology is still in its nascent stage hence a mixed speculation continues to hover around it. Investment in retinal implants and prostheses R&D has increased in recent years owing to their immense market potential. Several private eyecare companies have entered the frame and are focusing on introducing more effective retinal implants. Majority of retinal implants that are currently available in the market are aimed at partially restoring useful eye vision. Such implants are effective in treating vision loss caused due to age-related macular degeneration (AMD) and retinitis pigmentosa (RP). Visual devices such as bionic eye and visual prosthesis are expected to have bigger impact in years to come, which in turn will pave the way for retinal implant market.

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Report Synopsis

This MRFR report offers a thorough analysis of the global retinal implants market. The primary objective of the report is to analyze the current market landscape and its future potential. All the relevant parameters have been considered for market analysis. The report also includes a discussion on the growth opportunities, drivers and restraints. 

Competition Tracking

Philips Healthcare, Retina Implant AG, Second Sight Medical Products, Inc. Bionic Eye Technologies, Inc., Bionic Vision Australia, VisionCare Ophthalmic Technologies, Inc, Abbott Vascular.

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

Segmentation

The global retinal implants market has been segmented into device type, disease indication, and end user. By device type, the market has been segmented into retina implant alpha AMS, Argus II, implantable miniature telescope, and others.  By disease indication, the market has been segmented into age-related macular degeneration (AMD) and retinitis pigmentosa. By end user, the market has been segmented into multi-specialty hospitals, ophthalmic clinics, and research institutes.

Regional Analysis

North America, Europe, Asia Pacific, and the Rest of the World are the key markets for retinal implants. North America accounts for a substantial share of the global market. Higher availability of the product, improving reimbursement scenario and higher affordability in the region supports the growth of the North America market for retinal implants. Presence of highly skilled surgeons to perform immensely complex surgical procedure also accelerates adoption in the region.

In Europe, the market is driven by an increase in R&D activities and the expansion of clinical trials.

Presence of developing countries such as India, China, and Japan, who outlay massive amounts on healthcare expenditure, coupled with growing disposable income and affordability supports the growth of the market in Asia Pacific.

Rest of the World market is expected to fare well in the coming years since various market players are foraying into the untapped regions to leverage the potential they offer for market expansion.

Research Methodology

Market Research Future (MRFR) employs a multi-layered analysis module for presenting accurate industry outlook. The combination of primary and secondary research processes for analysis of governing factors and macro-economic indicators of the market. Detailed surveys and interviews are conducted with key opinion makers across the value chain for collection of primary data. Secondary research processes are leveraged for verification of collected data through valuable inputs from SEC filings, white paper references, paid databases, research publications and other credible sources available in public domain. Additionally, top-down and bottom-up approaches are utilized to extrapolate data, which is then verified using a powerful data triangulation technique. These comprehensive research methods ensure accuracy and objectivity of the market foresight.

For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for petroleum coke (fuel-grade)

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Rhabdomyosarcoma Market 2020 Analysis, Industry Size, Share Leaders, Current Status by Major vendors and Trends by Forecast to 2027

 The global rhabdomyosarcoma market statistics expected to grow significantly over the forecast period. It is estimated that the global rhabdomyosarcoma market is expected to register a CAGR ~ 4.8 % during the forecast period of 2018–2023. Rhabdomyosarcoma is a type of cancerous tumor that starts to develop in the soft tissues of the body. Cells affected by rhabdomyosarcoma can grow and spread very fast.

Numerous factors such as raising awareness of rhabdomyosarcoma and its increasing prevalence are expected to drive the growth of the market.

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Moreover, favorable healthcare investments by government and the rising demand for better treatments boosts the growth of the market. However, stringent government regulation for product approval and huge costs of the treatment may hamper the market growth during the assessment period.

Segmentation

The global rhabdomyosarcoma market has been segmented into type, diagnosis, and treatment.

The market, on the basis of type, has been segmented into Embryonal Rhabdomyosarcoma and Alveolar Rhabdomyosarcoma.

The market, by diagnosis, has been segmented into Imaging Tests and Biopsy.

Imaging tests are further segmented into X-Ray, MRI scan, CT scan, PET scan, and Bone Scan.

Biopsy is further segmented into Needle Biopsy and Surgery Biopsy.

The market, by treatment, has been segmented into Surgery, Radiation Therapy, Chemotherapy and Stem Cell Therapy. Chemotherapy is expected to account for the largest market share due to its effective treatment for minimizing the risk of cancer reoccurrence and high preference among the patients. Radiation therapy is anticipated to be the fastest growing segment due to technological advancements in the segment.

The market, by region, has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The rhabdomyosarcoma market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European rhabdomyosarcoma market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The rhabdomyosarcoma market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The rhabdomyosarcoma market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players

Boehringer Ingelheim International GmbH, Pfizer Inc, Eli Lilly & Company, Novartis AG, Bristol Myers Squibb Company, TAIHO ONCOLOGY, INC., Oasmia, Bellicum Pharmaceuticals, Inc., CELGENE CORPORATION, Eisai Co., Ltd., MacroGenics, Inc., NantKwest., Tarveda Therapeutics., Exelixis, Inc., and Ipsen Pharma are some of the key players in the global rhabdomyosarcoma market.

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Allergic Rhinitis Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

 The allergic rhinitis market is currently growing at a CAGR of 3.10%. The market is expected to be worth the USD 15,064.12 million by 2025. Growth is expected to be strong in this market until at least the end of 2027. 

Allergic rhinitis is becoming more of a problem worldwide. Various governments around the world are investing heavily in educational campaigns regarding various allergies and the many ways that allergic rhinitis medicines can help alleviate these. 

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COVID-19 analysis

COVID-19 became a global nuisance in the Spring of 2020. At first, governments thought that this virus was nothing more than a stronger version of the flu. However, many people reported long-term side effects months after having recovered from the virus. Some of these conditions included diabetes and strokes. What complicated matters further was the fact that the antibodies only lasted for a few months. Therefore, those who recovered could get it again.

Governments around the world responded with mandatory lockdowns and quarantines. This adversely affected the allergic rhinitis market. Many companies found it difficult to source the raw materials for these drugs. This pushed production costs up. These companies were forced to pass these costs onto the end consumer in the form of higher prices.

Market dynamics

Drivers

Climate change has meant that more and more people around the world are suffering from seasonal or long-term allergies. Since these allergies can be severe, governments around the world have been launching marketing and educational programs and campaigns that are designed to warn and inform people about allergies. These campaigns are also designed to promote allergic rhinitis drugs as much as possible.

Many private and national healthcare providers are responding by covering allergic rhinitis drugs and treatments. This phenomenon is expected to be a major driver of growth until at least the end of 2027. 

According to the European Academy of Allergy and Clinical Immunology (EAACI), approximately 150 million people in Europe suffer from chronic allergies. About two-thirds of those are suffering from allergic rhinitis.

Opportunities

Massive government educational programs about allergic rhinitis are expected to create many new opportunities for the allergic rhinitis drugs market. This is especially true because companies are investing heavily in research and development. This is allowing them to create a new generation of over-the-counter and prescription allergic rhinitis drugs that can sell for very high prices. These new-generation drugs are far more effective at relieving the symptoms of allergic rhinitis for longer. 

Restraints

One factor that could potentially hamper growth in the allergic rhinitis market is the many side effects. Though rare, some of these side effects can be dangerous and even deadly!

Challenges

One major challenge that companies in the allergic rhinitis market face are the issue of keeping production costs down. This will make these drugs more affordable and result in more sales. COVID-19 and its aftermath have only exacerbated this challenge. 

Cumulative growth analysis

The CAGR of this allergic rhinitis market is expected to be 3.10% by the end of 2027. The allergic rhinitis drugs market is expected to be worth USD 15,064.12 million by the end of 2025.

Technology analysis

Merck & Co has been at the forefront in terms of research and development in the global allergic rhinitis market. The results have paid off. One new generation of allergy drugs is Asmanex. This is a prescription medicine. It’s an aerosol corticosteroid that’s taken nasally. Asmanex is a strong drug that can relieve many allergy symptoms for longer. 

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Behavioral Health Services Market Is Seeing Explosive Growth by Future Industry Winners: Forecast, 2020-2027

 Market Forecast

Global Behavioral Health Services Market is expected to cross USD 146.3 Billion by 2025 at a CAGR of 3.4 %.

Market Synopsis

Behavioral health services are healthcare organizations that provide medical services, mental health services, and substance abuse. There are many types of behavioral health services that a person may need. The number of behavioral health services cases is increasing globally, fueling the market growth. Around 7.4% of children aged 3-18 years are diagnosed with behavioral health problems every year in the US. Behavioral health services are the second-highest contributor to global disability and an estimated 30% to 40% of people across the globe live with behavioral health services.

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Behavioral health services are most common in low- and middle-income countries, and this disorder requires lifelong care to manage.

Market Influencer

Rising awareness of behavioral health issues is expected to create favorable market prospects for behavioral health service providers.

Market Drivers

• Growing global geriatric population.
• Increasing prevalence of mental disorders. Globally 300 million people are affected by mental disorders.
• Rising demand for behavioral health treatment
• Clinical advancements in therapy
• Online counseling programs and daycare services
• Increasing research and development of new drugs to treat behavioral health disorders.
• Raising awareness of behavioral health services.

Market Restraints

• High treatment costs
• Lack of trained mental healthcare providers
• Limited primary care services

Segmentation

By Services Type

• Inpatient hospital treatment: The largest segment of the market. Inpatient hospital treatment is effectively designed to treat patients with acute behavioral health problems. This includes hospitalization of the patient for a short duration of time.
• Outpatient counseling: This disorder generally afflicts elderly people. In this therapy, the patient continues to live at home with continued physician oversight and medication management whereas outpatient counseling involves group therapy sessions and life skill workshops to give the patient the tools to live a healthy lifestyle.
• Home-Based Treatment Services: This service is provided face to face at home to address the symptoms to the patient as the result of psychiatric disorder.
• Emergency Mental Health Services: this type of service is given when the patient’s behavior is out of control that the person must be treated immediately to avoid injury to themselves or others.
• Others: Various other types of services are also available such as substance abuse, serious mental illness, and bipolar disorder.

By Disorder Type

• Anxiety Disorder: The largest segment of the market. It is considered one of the common mental illnesses in the US. Around 40 million adults in the US suffer through anxiety disorder every year.
• Bipolar Disorders: It is also known as manic depressive disorder. It is brain disorder that causes unusual changes in mood, energy, and activity levels. It is estimated that around 7 million adults in US are diagnosed with bipolar disorder in 2018.
• Depression: It is a leading cause of disability worldwide. Depression is serious mental health condition that requires immediate medical care. More than 17 million US adult’s population had at least one major depressive disorder in the past year.
• Eating Disorder: It is a common disorder found in both men and women.
• Post-Traumatic Stress Disorder (PSTD): It is a disorder that develops in people who have experienced a dangerous event in their life. Around 3.6% of adults in the US are diagnosed with PSTD in recent years.
• Substance Abuse Disorder: Specific types of substances such as opioids, alcohol, or hallucinogens can lead to substance abuse disorder. The most common type of substance abuse disorder includes tobacco, cannabis, and alcohol.
• Others: Other type of disorders includes schizophrenia, insomnia, disruptive behavioral disorders, and pervasive development disorder.

By End-User

• Providers: The provider’s segment is further sub-segmented into hospitals and clinics and community centers.
• Hospitals and Clinics: The largest segment, hospitals, and clinics are usually the primary points for diagnosis, treatment, and rehabilitation of individuals afflicted with behavioral health services. Growing awareness and increasing efficiency of behavioral health services are projected to drive the growth of this segment during the forecast period.
• Community Centers: A small segment. This center provides immediate services and rudimentary drugs for behavioral health disorders.
• Patients: Various drugs are used for the treatment of behavioral health services, which can be easily available in online pharmacy.
• Others: This segment includes home care and senior citizen centers.

By Region

• Americas: The largest regional market. The prevalence of behavioral health services is high in the Americas. The region also has a well-established healthcare industry. Out of the entire population, around 2% of people in the US were suffering from behavioral health services in 2017.
• Europe: An increasing geriatric population is leading to a rise in the number of behavioral health services.
• Asia-Pacific: The fastest-growing regional market. Asia-Pacific is seeing a surge in the number of people afflicted with behavioral health services due to the clinical advancement in therapy. Behavioral health services are an increasing problem in Asia. Approximately 3000 patients were diagnosed with behavioral health disorders in Korea in 2017, whereas in Japan, around 298 people were diagnosed with behavioral health disorders in 2017.
• Middle East & Africa: The smallest market due to limited healthcare infrastructure and a very young population.

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Contact Lenses Market 2020 Analysis, Industry Size, Share Leaders, Current Status by Major vendors and Trends by Forecast to 2027

 The Global Contact Lenses Market is expected to register a CAGR of 5.70% to reach USD 12,330.46 Million by 2025.

A contact lens is a thin curved lens, worn on the surface of the eyeball by people with compromised vision. The global contact lenses market is expected to exhibit lucrative growth during the forecast period. Some of the major factors characterizing the market growth are the increasing prevalence of visual impairments and eye disorders, and technological advancements in the field of ophthalmology. However, the side-effects associated with the usage of contact lenses is anticipated to limit the market growth over the forecast period.

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Market Dynamics

Contact lenses are normally thin plastic-like lenses, that are worn on the surface of the eyeball to improve vision. Contact lenses are medical devices regulated by the US Food and Drug Administration (FDA), however, cosmetic and prescription contact lenses require to be prescribed The increasing adoption of contact lenses for correction of multiple vision defects including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia is likely to drive the growth of the global contact lenses market during the forecast period. For instance, according to the International Myopia Institute, the occurrence of myopia is growing rapidly and by 2050 almost 50% global population is expected to be myopic. Moreover, changing lifestyle, and technological advancements are also anticipated to fuel the demand for contact lenses across the world, thereby supporting the market growth.

Segmentation

On the basis of wear type,  global contact lenses market has been classified into daily disposable lenses, disposable lenses, frequent replacement lenses, and conventional lenses.

The global contact lenses market based on type has been divided into the corrective lens, therapeutic lenses, and cosmetic and lifestyle-oriented lens. The corrective lens segment held a share of 43.2% in 2018.

The global contact lenses market, by material, has been segregated into silicone hydrogel soft contact lens, methacrylate hydrogel soft contact lens, gas-permeable contact lens, and others.

By design, the market has been classified as spherical lens, toric lens, multifocal lens, and others.

Regional Analysis

The global contact lenses market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas dominates the global contact lenses market owing to the increasing population of contact lens wearers, growing prevalence of eye-related diseases, and the rising popularity of cosmetic lens among the youth. According to the Centers for Disease Control and Prevention, in 2015, an approximate of 40.9 million contact lens wearers in the US was 18 years or older, which accounted about 16.7% of the US adult population.

The European region holds the second-largest market share owing to the high adoption of contact lenses and increasing occurrences of age-related eye diseases. This region is expected to grow at a CAGR of 6.02% during the forecast period of 2019 to 2025.

Asia-Pacific is estimated to be the fastest-growing region in the global market due to the rising prevalence of eye disorders and growing adoption of contact lens among the youth. Additionally, multinational companies moving towards the developing nations and setting operational set-ups, this is likely to drive the growth of the market.

The contact lenses market in the Middle East & Africa is expected to witness a modest market growth rate from 2019 to 2025. The Middle East is projected to lead the market growth, attributing to factors such as increasing partnerships or agreements to commercialize contact lenses, developing healthcare infrastructure, flourishing medical tourism, growing healthcare industry, and rising awareness about contact lenses.

Key Players

The prominent players in the global contact lenses market are Johnson & Johnson Services Inc., Novartis AG, CooperVision, Inc. (The Cooper Companies Inc.), Bausch Health, Neovision Co, Ltd, Seed Co. Ltd, Hoya Corporation, Menicon Co., Ltd, Oculus Private Limited, Camax Optical Corp., and St. Shine Optical Co., Ltd.

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Molecular Diagnostics Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

 According to MRFR, the Global Molecular Diagnostics Market is poised to register a CAGR of 8.57%and is slated to reach USD 16.32 Billion by 2025. The growing prevalence of infectious disorders, increasing occurrence of various forms of cancer, and advances in molecular testing techniques are primary drivers of market development.

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COVID-19 Analysis

The dissemination of COVID-19 worldwide has significantly expanded the number of confirmed cases and the geographic areas where laboratory research must be carried out and strengthened. The molecular testing of COVID-19 resulted in a worldwide lack of molecular research reagents for COVID-19. Beyond supply issues, absorption capacity is limited in a number of regions, especially in low-and middle-income countries. Testing appears to be a key step in monitoring the accelerated dissemination of the virus. With a growing array of cases, regulators around the world are investigating the possibilities for private labs to scale up research. The broad availability of diagnostics would be sufficient for the rapid diagnosis of COVID-19 cases. The World Health Organisation (WHO) has produced guidelines for research methods as part of the strategic preparedness and response strategy. 

Market Dynamics

Technological Advancements In Molecular Diagnostics To Drive The Market Growth

In the testing of infectious diseases, molecular diagnostics play an essential role as they offer rapid and effective results. In order to drive the demand for molecular diagnostics over the forecast period, the increasing prevalence of hospital-acquired infections and infectious diseases is further estimated. The detection of numerous diseases has been facilitated by advances in molecular diagnostics and is particularly effective when faced with difficult differential diagnosis. Molecular diagnostic technological advances are expected to significantly drive market growth as they facilitate cost-effectiveness, accuracy and portability. 

Opportunities

Growing R&D Investments to Drive the Market Growth

The demand for molecular testing is expected to drive growing funding by governments and numerous organisations for R&D in molecular diagnostics. The availability of R&D funds and increasing government support for the life sciences sector are expected to boost market growth in this region.

Restraints

Stringency Of Molecular Diagnostics Regulations Likely to Impede Market Growth

In the pharmaceutical, biotechnology, and medical technology sectors, the regulatory framework for approvals has always been a major restrictive factor. Inaccurate results could be provided by faulty diagnostic kits. Therefore the strictness of regulations associated with the approval process for molecular diagnostics limits market growth.

Segment Overview

Global Molecular Diagnostics Market has been segmented into Product, Technique, Application, and End User. 

By Product

By product, the market has been segregated into reagents & kits, instruments, and services & software. This market segment of molecular diagnostics is dominated by the the reagents segment. Some of the major growth drivers for the segment are high use of reagents in molecular diagnostic testing, growing demand for over-the-counter diagnostic tests, and increased adoption of these tests in non-medical facilities such as home self-testing.. 

By Technique

Based on the technique, the market has been divided into a isothermal amplification, polymerase chain reaction (PCR), hybridization, sequencing, microarray, and others. PCR dominates the market due to increased use and advances in PCR techniques are some of this segment’s highest impact rendering drivers.

By Application

The market has been segmented into genetic tests, infectious diseases, oncology, and others based on application. In 2019, infectious disease testing dominated the market for molecular diagnostics due to the relapse of infectious diseases, including new multidrug-resistant TB, H1N1, and HIV strains.

By End-User

By end-user, the market has been divided as hospitals & clinics, diagnostic laboratories, and others. The increasing demand for early diagnosis of numerous diseases has increased the funding for advanced diagnostic laboratories, which means that the segment is likely to see significant growth.

Regional Analysis

The regionally based analysis of the Global Molecular Diagnostic Market has been conducted in the Americas, Europe, Asia-Pacific and the Middle East and Africa.

North America Dominates the Market with Superior Healthcare Infrastructure

During the forecast period, the Americas is projected to dominate the global market for molecular diagnostics. The growing geriatric population and the implementation of new health facilities in the region are attributable to this. North America leads the market because of the existence of a well-established diagnostic system, technical advancements, patient awareness, and the presence of innovative technologies in the area of molecular diagnostics..

Growing R&D Investments Drive the Europe Market

During the forecast period, the European market for molecular diagnostics is expected to be the second-largest. The availability of R&D funding and growing government support for the life sciences sector are expected to boost market growth in this region.

Growing Outsourcing Of Clinical Trials to APAC Drives the Market Growth

Asia-Pacific is estimated to be the fastest-growing market due to developing economies like China, India and South Korea emerging as major destinations for the outsourcing of clinical trials, drug manufacturing and pathology testing. In addition, the study being done in the area has strengthened the healthcare system.

Growing Awareness Towards Molecular Diagnostics Solutions Drives the MEA Market Growth

During the review period, the molecular diagnostics market in the Middle East & Africa is expected to experience steady growth. Increasing expenditure on healthcare to provide better healthcare facilities will increase the growth of the market in the coming years. It is expected that increasing awareness and accessibility of advanced molecular diagnostics solutions will further boost the growth of the molecular diagnostics industry in the region.

Competitive Landscape

Acquisitions of established, advance Diagnostic labs to be the primary tactics adopted by leading players

Companies active in the molecular diagnostic industry plan to strengthen their global reach through authorization by government agencies, partnerships, strategic mergers & acquisitions with other market leaders in their respective territories and regions around the world

December 2020: Naveris, a healthcare company dedicated to improving patient care through early detection of virus-related cancers, announced the closure of its expanded Series A funding, bringing the total amount raised to more than $19 million since its inception.

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Medical Implant Market Size, Share, Demand, Financial Overview, Key Developments, Swot Analysis and Forecast to 2027

 Global Medical Implant Market is expected to register a CAGR of 7.60% during the assessment period of 2020 to 2027, to reach USD 279,418.06 Million by 2027.

Market Dynamics

Quality treatments reduce the re-investment cost for patients as the market players are focused on introducing the best quality products and treatments to beat the competition. Moreover, improvement in technology leads to the success rate of implantation surgery around the globe. The presence of big players plays an important role in the market by introducing quality products. These quality products and treatments also help these players sustain their presence in the global market. For instance, long-acting reversible contraceptive implant methods are 20 times more effective than oral contraceptive pills and easy to use, safe, and long-lasting compared to contraceptive pills. This technology helps in family planning. According to a report published by the FPA Sexual Health Charity in 2017, long-acting reversible contraceptive implants have the best outcome. According to a report published by the American Joint Replacement Registry, in 2017, there was a 50% reduction in revision rates of hip and knee implants, owing to registry initiation and identification of best practices. However, according to the FDA approval study, the successful implantation rate is 95.6%, which is the highest success rate reported in the US in 2016. The success rate is one of the major factors, which boosts the demand for medical implants. Thus, the improvement in surgical outcomes is expected to drive the growth of the global medical implant market during the forecast period.

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Segmentation

Global Medical Implant Market is segmented based on Type, Type of Material and End User.

The global medical implant market based on the type has been segmented into orthopedic implants, cardiac implants, spinal implants, dental implants, ophthalmic implants, cosmetic implants, others. The global medical implant market, by type of material, has been segmented into metallic material, ceramic material, polymers material, others. The metallic material segment held the largest market share in 2019. Metallic materials, such as cobalt chrome steels, stainless steel, and titanium alloys, are widely used in implants. The increasing number of implant surgeries all over the world is fueling the market growth. The global medical implant market, by end-user, has been segmented into hospitals & clinics, research laboratories, and others. The hospitals & clinics segment dominated the market. The increasing number of surgeries in the hospitals & clinics also raises the demand for medical implants, which is propelling the market growth of this segment.

Regional Analysis

Global Medical Implant Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas spearheaded the market in 2019 and is likely to continue to command during the assessment period. Americas is owing to the high prevalence of chronic diseases, product launch, and technological advancement in this region. The high demand for medical implants and the adequate availability of skilled professionals in the region are expected to fuel the regional market’s growth. According to a USA.gov publication, the US has the largest medical device market in the world.

The European medical implant market has been divided into Western Europe and Eastern Europe. The Western Europe medical implant market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The increasing patient pool in the hospitals and the availability of products in the region are also contributing to the demand for medical implants. Moreover, an increase in the number of patients undergoing knee and hip replacement surgeries is anticipated to boost the regional market growth. The availability of implants in the market has increased, especially since established implant companies such as Straumann (Pure and Snow) and Nobel Biocare (Nobel Pearl) have added zirconia implants to their product portfolios. These factors are also playing an important role in the growth of this market.

The medical implant market in Asia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is expected to witness the highest market growth potential over the forecast period due to the population of age 65 and above is expected to grow dramatically over the next 50 years. In this region, the population in this age group will increase by 314%, from 207 million in 2000 to 857 million by 2050. Many adults residing in the region are expected to suffer from various orthopedic and cardiac disorders. Moreover, the increasing per capita disposable income of middle-class families, which accounts for a large population in Asia, results in individuals spending more on health. This is one of the factors driving the growth of the regional medical implant market during the study period.

The Middle East & Africa medical implant market is segmented into the Middle East and Africa. The increasing prevalence of cardiac and orthopedics disorders and funding by private players and government bodies. As per a report by the International Trade Administration, the Saudi health care sector is the largest in the Near East. Saudi Arabia’s health and social affairs budget for 2019 outlines an 8% increase to USD 46 billion compared to USD 42.4 billion in 2018.

Key Players

The Prominent Players in the Global Medical Implant Market are Boston Scientific Corporation (US), Johnson & Johnson (US), Stryker Corporation (US), 3M (US), and Zimmer Biomet (US).

Some of the key strategies followed by market players operating were FDA approvals, joint ventures, acquisitions, expansions, and collaborations, among others.

• In May 2020, Smith & Nephew announced the launch of its JOURNEY II Unicompartmental Knee (UK) system. This system is paired with the increased range in implant sizes and a lateral specific base plate, making it easy to perform well-balanced medial and lateral unicompartmental arthroplasties.

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