At 6.9% CAGR, the Europe Implantable Medical Devices Market is Projected to be Worth US$ 39,170.15 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe implantable medical devices market was valued at US$ 22,887.73 million in 2022 and is expected to reach US$ 39,170.15 million by 2030, registering a CAGR of 6.9% from 2022 to 2030. Growing areas of application of implantable medical devices and rising cases of spinal cord injury attributed to the Europe implantable medical devices market expansion.

According to Frontiers' estimates, there were 9 million cases of spinal cord injuries globally in 2019, which is 52.7% more than there were in 1990. The aging demographic coupled with lifestyle-related factors has led to a substantial increase in individuals experiencing spinal issues such as degenerative disc disease and spinal deformities. The demographic shift has created a growing pool of patients seeking effective interventions. Spinal cord stimulation is one of the most preferred techniques in treating chronic back pain, primarily due to the anatomical and functional abilities of the spinal cord nerves to control the sensation of pain. The incidence of spinal cord injuries has rapidly increased over the past decade. Spinal cord stimulators are widely used for managing postoperative pain associated with spinal surgery. Therefore, the high incidence of spinal cord injuries in the geriatric population and adults fuels the demand for implantable neurostimulation devices, boosting the market growth.

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

Based on implant type, the Europe implantable medical devices market is bifurcated into active implant & passive implant. The passive implant segment held 53.8% share of Europe implantable medical devices market in 2022, amassing US$ 12,316.57 million. It is projected to garner US$ 20,472.68 million by 2030 to expand at 6.6% CAGR during 2022-2030.

Based on product type, the Europe implantable medical devices market is bifurcated into diagnostic & treatment. The treatment segment held 78.7% share of Europe implantable medical devices market in 2022, amassing US$ 18,007.45 million. It is projected to garner US$ 31,404.63 million by 2030 to expand at 7.2% CAGR during 2022-2030.

Based on material type, the Europe implantable medical devices market is segmented into metallic, ceramic, and polymers. The metallic segment held 53.7% share of Europe implantable medical devices market in 2022, amassing US$ 12,279.70 million. It is projected to garner US$ 21,032.15 million by 2030 to expand at 7.0% CAGR during 2022-2030.

Based on application, the Europe implantable medical devices market is segmented into dental implants, orthopedic implants, cardiovascular implants, breast implants, brain implants, and others. The orthopedic implants segment held 45.2% share of Europe implantable medical devices market in 2022, amassing US$ 10,352.06 million. It is projected to garner US$ 17,922.68 million by 2030 to expand at 7.1% CAGR during 2022-2030.

Based on end users, the Europe implantable medical devices market is segmented into hospitals, specialty clinics, ASCs, and others. The hospitals segment held 53.6% share of Europe implantable medical devices market in 2022, amassing US$ 12278.64 million. It is projected to garner US$ 21071.48 million by 2030 to expand at 7.0% CAGR during 2022-2030.

Based on country, the Europe implantable medical devices market has been categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 24.5% share of Europe implantable medical devices market in 2022. It was assessed at US$ 5,617.09 million in 2022 and is likely to hit US$ 9,989.24 million by 2030, exhibiting a CAGR of 7.5% during 2022-2030.

Key players operating in the Europe 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 Mar-2021, LivaNova PLC announced that its Vagus Nerve Stimulation Therapy (VNS Therapy) System, Symmetry, earned CE Mark approval for Difficult-to-Treat Depression (DTD). Two patients in the United Kingdom were implanted at the Musgrove Park Hospital in Taunton, England, making them the first patients to receive Symmetry devices outside the United States. The ability to treat these patients with Symmetry was the result of a collaborative effort to develop a VNS Therapy for depression treatment pathway by the Somerset Partnership National Health Service (NHS) Foundation Trust, the Taunton and Somerset NHS Foundation Trust and LivaNova.
  
  
  
  
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