At 7.3% CAGR, the Asia Pacific Implantable Medical Devices Market is Projected to be Worth US$ 35,546.96 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Asia Pacific implantable medical devices market was valued at US$ 20,222.02 million in 2022 and is expected to reach US$ 35,546.96 million by 2030, registering a CAGR of 7.3% from 2022 to 2030. Growing areas of application of implantable medical devices and rising cases of spinal cord injury attributed to the Asia Pacific implantable medical devices market expansion.

The adoption of smart implants is inevitable due to new technological advancements in implants and the increasing need to provide pervasive and personalized care. Integrating smart implants presents unprecedented opportunities for effective disease prevention, early detection of diseases, real-time health data collection, real-time monitoring of chronic diseases, virtual patient care, patient-tailored treatment, and minimally invasive management of diseases. The smart implants allow personalized diagnosis and disease treatment specific to each patient. Manufacturers are investing significantly in developing advanced products and technologies such as implantable devices. Additionally, there is an increase in Food and Drug Administration (FDA) approvals for medical devices with new applications in the implantable devices market. A few advanced devices are listed, In February 2022, as part of AVEIR DR i2i pivotal clinical study, Abbott launched the patient implants of a dual-chamber leadless pacemaker system. The implant is a significant technological milestone in leadless pacing technology. Therefore, the rising number of advances and approvals for implantable devices is expected to provide lucrative opportunities for the implantable medical devices market during the forecast period.

On the contrary, post-surgical complications hampers the Asia Pacific implantable medical devices market.

Based on implant type, the Asia Pacific implantable medical devices market is bifurcated into active implant & passive implant. The passive implant segment held 57.7% share of Asia Pacific implantable medical devices market in 2022, amassing US$ 11,666.40 million. It is projected to garner US$ 19,963.02 million by 2030 to expand at 6.9% CAGR during 2022-2030.

Based on product type, the Asia Pacific implantable medical devices market is bifurcated into diagnostic & treatment. The treatment segment held 84.3% share of Asia Pacific implantable medical devices market in 2022, amassing US$ 17,056.87 million. It is projected to garner US$ 30,622.84 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Based on material type, the Asia Pacific implantable medical devices market is segmented into metallic, ceramic, and polymers. The metallic segment held 56.0% share of Asia Pacific implantable medical devices market in 2022, amassing US$ 11,321.91 million. It is projected to garner US$ 19,951.14 million by 2030 to expand at 7.3% CAGR during 2022-2030.

Based on application, the Asia Pacific implantable medical devices market is segmented into dental implants, orthopedic implants, cardiovascular implants, breast implants, brain implants, and others. The orthopedic implants segment held 46.1% share of Asia Pacific implantable medical devices market in 2022, amassing US$ 9,331.86 million. It is projected to garner US$ 16,588.48 million by 2030 to expand at 7.5% CAGR during 2022-2030.

Based on end users, the Asia Pacific implantable medical devices market is segmented into hospitals, specialty clinics, ASCs, and others. The hospitals segment held 55.9% share of Asia Pacific implantable medical devices market in 2022, amassing US$ 11,311.10 million. It is projected to garner US$ 19956.52 million by 2030 to expand at 7.4% CAGR during 2022-2030.

Based on country, the Asia Pacific implantable medical devices market has been categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 23.6% share of Asia Pacific implantable medical devices market in 2022. It was assessed at US$ 4,776.66 million in 2022 and is likely to hit US$ 8,651.45 million by 2030, exhibiting a CAGR of 7.7% during 2022-2030.

Key players operating in the Asia Pacific implantable medical devices market Abbott Laboratories, Boston Scientific Corp, Dentsply Sirona Inc, Johnson & Johnson, Medtronic Plc, Institut Straumann AG, Smith & Nephew Plc, Biotronik Se & Co Kg, Livanova Plc, and Med-El Elektromedizin Gerate Gesellschaft Mbh, among others.

• In Aug-2023, Medtronic plc received CE (Conformite Europeenne) Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS). It is the first Medtronic SCS device to offer a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment, as needed, to keep therapy in harmony with the motions of daily life.
  
  
  

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