Smart Implants Market Size is Estimated to Reach USD 22.2 Billion by 2032

The global smart implants market is expected to be worth US$ 3.9 billion in 2022, rising to US$ 22.2 billion by 2032. Smart implants are expected to make a significant contribution to the global implants market, with demand increasing at a 19% CAGR from 2022 to 2032.

According to Fact.MR, a global market research and competitive intelligence provider, the smart implants market grew at an unprecedented rate of 19.9% between 2017 and 2021. This rapid expansion can be attributed to the introduction of numerous novel smart implants, which have expanded their application into a variety of domains.

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Smart Implants Market Segmentation

  • Smart Implants Market by Implant :

    • Pacemakers
    • CRTs
    • ICDs
    • Knee Replacement
    • I-CGM
    • Cochlear Implants
    • Sacral Neuromodulators
    • DRG Neurostimulators
    • Spinal Cord Stimulators
    • Others
  • Smart Implants Market by Use Case :

    • Cardiac Rhythm Management
    • Arthroplasty
    • Neuromodulation
    • Continuous Glucose Monitoring
    • Hearing
    • Others
  • Smart Implants Market by End User :

    • Hospitals
    • Specialty Clinics
    • ASCs
  • Smart Implants Market by Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & ASEAN
    • Oceania
    • MEA

Competition Landscape

Key manufacturers of smart implants are Abbott, Medtronic, Boston Scientific Corporation, Nevro Corporation, Biotronik, Zimmer Biomet, and Cochlear Ltd.

The global smart implants market is strictly consolidated with each player competing to secure dominance. One of the key approaches adopted by global leaders is increased investments in R&D to establish brand identity with breakthrough products.

Manufacturers are seeking on-field guidance by collaborating with hospitals and understanding the needs and challenges of patients to customize product development. Several partnerships with ICT industries are also established to guide medical technology development.

  • In Apr 2022, Medtronic & GE healthcare collaborated to understand the unique requirements and ultimatum for care at Ambulatory Surgery Centers (ASCs) and Office-based Labs (OBLs).
  • In Aug 2020, Senseonics collaborated with Ascensia Diabetes Care, providing it the exclusive distributor rights across the globe. Ascensia Diabetes Care markets its product in more than 125 countries, and will commercialize the Senseonics’ Eversense® CGM systems.

 Essential Takeaways from the Smart Implants Market Insights Report

  • Comparison of prominent players operating in the Smart Implants Market Insights.
  • Recent developments and key strategies adopted by Smart Implants Market players.
  • Study of the micro and macro-economic growth indicators.
  • Impact of the various factors on the value chain of the Smart Implants Market Insights.
  • Growth opportunities for emerging market players in various regional markets.
  • Current trends influencing the scenario of the Smart Implants Market Insights.

Important queries related to the Smart Implants Market Insights addressed in the report:

  1. Who are the most prominent players in the Smart Implants Market Insights?
  2. What are the factors that are likely to hinder the growth of the Smart Implants Market Insights during the forecast period?
  3. Why is the concentration of tier-1 companies high in specific region?
  4. How are the soaring prices of raw materials impacting the demand for Smart Implants Market?
  5. Why are Smart Implants Market players eyeing opportunities in particular region?

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