The medical implants market size was worth $ XX billion in2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period.
The medical industry has made use of metal instruments for centuries, from the first scalpels and forceps to modern implants and scopes. As medical science has improved, the applications of implants have expanded and changed.
Increasing number of chronic diseases is primarily driving the medical implants market in recent years and expected to remain same over the forecast period.
However high cost of these devices is hampering the medical implants market.
Based on application , medical implants market is segmented into:
Orthopedic implants
Cardiac implants
Spinal implants
Dental implants
Ophthalmic implants
Others
Orthopedic implants dominate the medical implants market and anticipated to remain same over the forecast period.
Based on material type, medical implants market is categorized into:
Metallic
Ceramic
Polymers
Ceramic segment holds the significant share as they are distinct from metallic and polymers. These are used in the repair and reconstruction of diseased or damaged parts of the musculo-skeletal system and useful as joint or tissue replacements.
Companies are focusing on key strategies such as collaboration, acquisitions, and product launches which are boosting the growth of the market globally.
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