A report recently added by Transparency Market Research to its repository, titled, “Next Generation Implants (NGI) Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025,” prepared after thorough primary and secondary research presents crucial information on the market’s trajectory and prospects.
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To do so, it sets out with a detailed discussion on the growth drivers and restraints affecting the demand for next generation implants (NGI). The report finds that ever-increasing pool of geriatrics who are highly prone to degenerating diseases that take a toll on their organs and bones, are at the forefront of driving sales in the market. Going forward too, they are expected to be the single-most important growth driver in the market because of as per WHO, the number of people aged 60 and above will rise to 1.4 billion by 2030. Apart from that, technological progress leading to superior products and implant procedures has also benefitted the next generation implants (NGI) market worldwide.
Overall, the market for next generation implants (NGI) is large with different types of products, which can be both permanent and temporary, having wide ranging applications. While pacemakers, heart valves, and stents are some of the permanent implants, screws which are removed later are considered temporary implants. To examine the market, the report segments it based on different parameters such as raw materials, applications, and region. Depending upon raw materials, for example, it divides the market into ceramics, metals and alloys, biological, polymers, and others. At present, metals and alloys lead the market with largest share. Application-wise, the report categorizes the NGIs into dental, orthopedic, oculer, cardiovascular, and others.
Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa are some of the key geographic regions in the global market for next generation implants (NGI). Of them, the North America market currently holds a sway on account of a massive pool of elderly present in the region. Large amounts earmarked for research and developed of advanced medical devices and products has also served to propel the market in the region. Asia Pacific is another key region which is expected to offer lucrative opportunities for growth in the near future on the back of increasing expenditure on healthcare and technological progress leading to more evolved versions of implants.
As far as the competitive landscape is concerned, the report finds that keen players are leveraging multi-pronged strategies to surge ahead of their rivals. Some such strategies are partnerships, collaborations, agreements, and product innovation and launches. Smith & Nephew plc, Boston Scientific Corporation, Abbott Laboratories, Medtronic Public Limited Company, Wright Medical Group N.V, Johnson & Johnson, C.R.Bard, Inc., Stryker Corporation, Dentsply Sirona Inc., Globus Medical Inc., and Zimmer Biomet Holdings Inc are to name a few key players in the global market for next generation implants (NGI).