The Implantable Medical Devices Marketing Report, published in 2017, estimates the global market for implantable medical devices will be approximately $116 million in just 5 years. Of this total dollar amount, just about one half of the market share is in North America, with this trend continuing.
There are several reasons why there is an increasing demand for implantable medical devices. One of the most frequently indicated is the aging population and the increasing number of people with chronic health conditions. Additionally, as people live to an older age, there is an increasing need for support for body systems.
In North America as well as in Europe, education of consumers and the increasing desire to avoid relying on medications to treat chronic types of illnesses is also driving the market demand for implantable medical devices. Although they are more costly and may not be covered by all insurance plans, they tend to have a higher favorability rating compared to medications, some with a significant risk of side effects.
Smaller and Personalized
One change for medical implants will be the increasing demand for miniaturization of the devices. These are not just the electroceuticals, used to stimulate nerves and change messages through the body, but also in the implants used for skeletal repairs and for control of body functions and systems.
Implants controlled by users are also a trend in the future. This control may be through a medical professional or by the individual and will be particularly important for issues such as migraine control and chronic pain management.
Longer Life Cycles
For those implantable medical devices with power requirements, the trend is in longer lasting, safer types of battery solutions and electronic systems. Microsystems within the devices will continue to become more complex and sophisticated, allowing for greater personalization and control with a longer life cycle.
The same is also true for joint and skeletal implants. These devices are now designed to last decades rather than years, reducing the need for replacement throughout the life of the patient.