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Global Implantable Medical Devices Market

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Global Implantable Medical Devices Market Insights
The Global Implantable Medical Devices Market Size was valued at USD 98.45 Billion in 2021, and it is expected to reach a value of USD 157.07 Billion by 2028, at a CAGR of 6.90% over the forecast period (2022 - 2028).

Devices that are implanted inside or on the surface of the body are known as implantable medical devices. Many implants are prostheses or artificial body components that are meant to replace missing bodily parts. Other implants help organs and tissues by delivering medication, monitoring biological functioning, or providing assistance. The implants can be left in place indefinitely for diagnostic, monitoring, or therapeutic purposes, or they can be taken out when no longer required.

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Global Implantable Medical Devices Market Segmental Analysis
The Global Implantable Medical Devices Market is segmented on the basis of type, product, nature of device, end-use, and region. Based on the type, the market is segmented into diagnostic and treatment. Based on the product, the market is segmented into cardiovascular, ophthalmology, orthopedic, plastic surgery, dental, and neurology. The cardiovascular segment further includes implantable cardiac defibrillators [ICDs], stents, pacemakers, implantable cardiac monitors (ICM), ventricular assist devices, and cardiac resynchronization therapy devices (CRT). The ophthalmology segment includes intraocular lenses and glaucoma implants. The orthopedic segment includes joint reconstruction, spinal devices, and trauma fixation devices.  
Global Implantable Medical Devices Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Top Player’s Company Profiles
•	Abbott Laboratories (US)
•	Boston Scientific Corporation (US)
•	C. R. Bard, Inc. (US)
•	Globus Medical Inc. (US)
•	Institut Straumann AG (Switzerland)
•	Integra Lifesciences Holdings Corporation (US)
•	Johnson & Johnson Inc. (US)
•	LivaNova PLC (UK)
•	MED-EL (Austria)
•	Medtronic plc (Ireland)
•	Nurotron Biotechnology Co., Ltd. (China)
•	Nuvasive Inc. (US)
•	Smith & Nephew Plc (US)
•	Sonova Holding AG (Switzerland)
•	St. Jude Medical Inc. (US)
•	Stryker Corporation (US)
•	William Demant Holding A/S (Denmark)
•	Wright Medical Group N.V. (US)

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Recent Developments
•	In February 2022, Abbott announced that the U.S. Food and Drug Administration (FDA) has approved an expanded indication for the company's CardioMEMS HF System to support the care of more people living with heart failure.
•	In February 2022, Boston Scientific Corporation announced the completion of its purchase of Baylis Medical Company Inc., a provider of innovative transseptal access solutions as well as guidewires, sheaths, and dilators used in catheter-based left-heart surgeries.
•	In January 2022, J&J Medical Devices Companies announced that it will work with Microsoft to better allow and grow J&JMDC's secure and compliant digital surgery environment. The Microsoft Cloud will assist JJMDC in realizing its mission of advancing skills, improving workflow, and improving surgical decision making for a better overall customer experience and greater patient and economic outcomes.

