The global implantable medical device market is anticipated to reach $49.5 billion by 2024, according to a Transparency Market Research report. Titanium currently dominates the market by material time, but it may be surpassed by rising demands for zirconium.
Here are three things to know:
1. North America currently dominates the market. In the coming years, North America is expected to keep market share control due to a growing geriatric and bariatric population.
2. The market may face challenges in the forecasted period due to the extensive use of materials, such as of chromium and nickel. These elements may be carcinogenic, according the report.
3. Key players in the market include:
- Dentsply Sirona
- Abbott Laboratories
- Stryker
- Danaher
- Johnson & Johnson
- Smith & Nephew
- Zimmer Biomet