The U.S. implantable medical devices market is expected to hit $73.9 billion by 2018, according to a Transparency Market Research report.
Here are six observations:
1. The market will likely continue to grow at a compound annual growth rate of 8 percent through 2018.
2. In 2011, the market was valued at $43.1 billion.
3. An increasing aging population, rising number of chronic degenerative diseases and growing healthcare expenditure are driving the market's growth.
4. The high prices of implantable medical devices and tough reimbursement policies may hinder growth, however.
5. Analysts predict the orthopedic implant segment will dominate the market through 2018.
6. Within the orthopedic implant segment, reconstructive joint replacements will experience the fastest growth.