Implantable Medical Devices Market Expected to Behold a CAGR 4.9% of through 2016 – 2024

Transparency Market Research reports the global implantable medical device market to witness notable growth in future years due to rising number of technological advancements in the field of medical science and treatment. The market could witness the massive influence of both small and large players. Smart players of the market are focusing on expansion of the business in other regions of the world as well by investing in various research and development strategies. Apart from that, they are also trying to improve the designing and functional properties of the implantable medical devices in order to serve better. Leading players are excelling in advancements because of their financial upper hand and this is making it difficult for small and average-sized players to survive in the market, let along compete with them.

Prominent players of the global implantable medical device market are Dentsply Sirona, Abbott Laboratories, Stryker Corporation, Danaher Corporation, Johnson & Johnson, Smith & Nephew plc, and Zimmer Biomet. Most of the players are taking initiatives in order to upgrade the medical devices for various treatment methods. Aprt from that, major players making huge investments into their research and development strategies are making it difficult for small players to survive in the market because small players will not be as financially independent as their larger counterparts.

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According to the TMR reports, the global implantable medical device market is anticipated to be worth US$49.8 bn by 2024. The market is expected to reach a steady CAGR of 4.9% within the forecast period of 2016 to 2024. As per segmentation by material type, the global market for implantable medical device is seen to be dominated by titanium at present but may soon be surpassed by zirconium because of their rising demands in the market.

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