ALBANY, N.Y.--(BUSINESS WIRE)--A new Transparency Market Research report states that the global implantable medical devices market in the U.S. stood at US$25.2 billion in 2012 and is predicted to reach US$33.6 billion by 2018. It is expected to expand at a CAGR of 4.1% from 2012 to 2018.
As per the report, the absence of substitute treatments for several injuries and chronic disorders is amongst the key factors fuelling the market for implantable medical devices in the U.S. These devices are being highly demanded in developing economies owing to growing incorporation of technological advancements into the existing healthcare scenario. In addition, the growing geriatric population and change in standards of living are also amongst the prime factors augmenting the demand for implantable medical devices in the U.S.
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On the basis of procedure, the market is segmented into cardiovascular procedures, orthopedic procedures, and other procedures. On the basis of product, the market is segmented into orthopedic implants, dental implants, cardiovascular implants, breast implants, intraocular lens, and other implants. Orthopedic implants include spinal implants and reconstructive joint replacement. Amongst these, in terms of growth opportunities and market value, the orthopedic implants segment is predicted to remain the biggest segment in the forthcoming years.
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As per the report, the prime players operating in the implantable medical devices market in the U.S. include Abbott Laboratories, Allergan Incorporated, American Medical Systems Holdings, Bard (CR) Incorporated, Biomet Incorporated, Codman & Shurtleff, Conor Medsystems, DePuy, Edwards Lifesciences Corporation, Endo Pharmaceuticals Holdings Incorporated, Ethicon, Gore (WL) & Associates Incorporated, Medtronic Incorporated, Merck & Company Incorporated, Oncura, Orthofix International NV, Porex Surgical, Smith & Nephew plc, St. Jude Medical Incorporated, Synthes Incorporated, Thoratec Corporation, and Wright Medical Group Incorporated, among others.
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Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
