This study analyzes the US implantable medical device industry. It presents historical demand data (2000, 2005, 2010) and forecasts for 2015 and 2020. Data are presented by implant procedure, material and type, including orthopedic (e.g., knee, hip and shoulder replacement, spinal fusion), cardiovascular (e.g., defibrillator, resynchronization and pacemaker devices) and other (e.g., ophthalmic, neurological stimulators, gastrointestinal, cosmetic). The study also considers market environment factors, evaluates company market share and profiles industry players.
US demand to increase 7.7% annually through 2015
US demand for implantable medical devices will increase 7.7 percent annually to $52 billion in 2015. These products have benefited from technological advances, and growth is expected to be strong over the forecast period. Next generation devices have increased confidence in orthopedic, cardiovascular and other implants. Demand will also benefit from the lack of alternative treatments for many chronic disorders and injuries. Over the long term, sales for medical implants will be challenged by tightening control by insurance providers over maximum payment for implantations. However, the ability of medical implants to reduce overall treatment cost for many conditions, including osteoarthritis and chronic heart failure, will work in favor of growth for these products.
Orthopedic products to dominate medical implants
Orthopedic implants will remain the largest implantable device segment, both in market value and growth opportunities. US demand for orthopedic implants is forecast to increase 8.8 percent annually to $29.4 billion in 2015, spurred by technological advances and safety enhancements. It will also reflect the growing prevalence of degenerative musculoskeletal disorders, and lifestyle changes that place people at risk for sports and exercise injuries. Improved orthopedic product designs allow less invasive surgeries. At the same time, as products become more durable and longlived, demand will come from an enlarged patient base for new surgeries rather than for replacements. Also challenging this segment over the long term will be advances in pharmaceutical alternatives to treat arthritic conditions. However, the segment will benefit from the high rate of insurance coverage for orthopedic implants, combined with a stable and well-funded medical delivery system.
CRT devices to benefit cardiovascular implants segment
Cardiovascular implants have strong potential to reduce the overall treatment cost for heart disease, and at the same time contribute significantly to improved quality of life. Demand for these devices is expected to expand 5.1 percent yearly to $14.6 billion in 2015. Pacing devices will realize greatest sales, largely due to growth in cardiac resynchronization therapy (CRT). A focus on developing products that reduce mortality and improve patient outcomes has resulted in greater pricing flexibility in an increasingly cost-conscious health care environment. Demand for cardiovascular stents and related devices will follow pacing devices. Fastest growth will be in structural implants, as technological advances in heart valves, ventricularassist devices and implantable monitors encourage greater use.
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