Implantable Medical Devices are Instruments that are inserted into the body of patients fully or partially by the physician for the improvement of Health. This is an important part of the Healthcare System for safe and quality health treatment. Those patients who have undergone implantation are given special attention or medical care under the observation of a physician. Some of the Implantable medical devices that are widely used are Pacemakers, Blood pressure sensors, Cochlear Implants, Contraceptive intrauterine devices, Cardioverter Defibrillator, Breast Implants, Intraocular Implants, etc.
Devices are inserted into the body temporarily or permanently by physicians for therapeutic effect, diagnosis, or to monitor a specific need. This device works by the electrical mechanism incorporated in that device, not by direct generated electric impulse by the body e.g. Pacemaker which is the most commonly used implantable medical device. Devices are made of human tissues, ceramics, plastic, and any material that is not toxic to the human body. Every year number of cardiovascular patients is increasing which directly leads to an increased scope of Implantable Medical Device pacemakers.
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Implantable Medical Device Market – Competitive Insight
- In September 2023, Cirtec Partner and wireless charging leader Resonant Link announced a partnership to accelerate the market of Implantable medical devices by reducing development costs and accelerating time to market.
The Implantable Medical Device Market includes –
- Abbott Laboratories
- Boston Scientific Corporation
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
- Johnson & Johnson
- Smith & Nephew Plc
- BIOTRONIK SE & Co. KG
- LivaNova Plc
- Cochlear Limited
- Medtronic
Implantable Medical Device Market – Growth Drivers
The Rise in age-related disease is one of the major factors increasing the implantable market as after a particular time people face hearing loss and cardiac problems which ultimately makes the use of such medical devices. Due to the small size of the device and portability, it is more convenient for patients and healthcare people to implant it in the body, less discomfort making, and allows patient mobility. Growing chronic illnesses which is untreatable by medicine can be treated by implantable medical devices. Government authorities are also raising awareness about this and favorable laws are made for the implantation, the safety and quality of devices are approved by regulatory bodies which makes trust in people and makes it prevalent in this market.
Global Dry Eyes Disease Market – Restraints
Some factors are responsible for the restraint of this market like the cost of Implantable devices is not affordable to all people. Surgical methods have to be used in many cases which may or may not lead to complications or hazards like tissue injury, bleeding, and infection. If any other therapies are available in the market more people prefer to go for that compared to implantation by surgical methods. Mainly the post-surgical complications hinder the market. Post-marketing approval takes so much time which may delay the release of novel Implantable devices. Long-term safety issues are not determined so it also makes people anxious about the Delayed Adverse effects of the device.
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Implantable Medical Device Market – Opportunities
The increasing global geriatric demographic presents a significant opportunity for the dry market, as age-related factors contribute to a higher prevalence of dry eye symptoms, creating a larger patient pool. Ongoing advancements in technology, such as the development of novel drug delivery systems and diagnostic tools, present opportunities for innovative solutions in the dry eyes market. Enhanced formulations and delivery methods can improve treatment efficacy and patient adherence. Growing awareness among consumers about eye health and the availability of effective dry eye treatments creates opportunities for market expansion. Increased knowledge encourages individuals to seek timely medical intervention, driving demand for dry eye products. The trend toward personalized medicine offers opportunities for tailored dry eye treatments based on individual patient characteristics. Personalized approaches can enhance treatment outcomes and differentiate products in the market.
Global Dry Eyes Disease Market – Geographical Insight
The market for dry eye disease is segmented into regions such as North America, Latin America, Europe, Asia-Pacific, the Middle East & Africa. North America is the largest market for dry eye diseases due to well-established healthcare infrastructure facilities and widespread diagnosis and treatment. Presence of key market players contributing to research and development in the region. In Europe, increasing awareness of eye health and the growing elderly population contribute to the prevalence of dry eyes. Advanced healthcare systems support timely diagnosis and treatment. Regulatory frameworks influence market dynamics and product approvals. Asia-Pacific rapid urbanization and lifestyle changes contribute to the rising incidence of dry eyes. A large population base, particularly in countries like China and India, provides a substantial market. Increasing healthcare expenditure and improving healthcare infrastructure enhance market growth prospects.
Global Dry Eyes Disease Market – Key Development
- In March 2023, Dentsply Sirona introduced the DS OmniTaper Implant System as a new member of the EV Plant system.
- On May 18, 2023, Bausch + Lomb and Novaliq announced FDA approval of MIEBO™ for the treatment of the signs and symptoms of dry eye disease.
- On April 25, 2023, Sun Pharma launched India’s first dry eye disease treatment CEQUA.
- On May 3, 2023, ENTOD pharmaceutical launched drops for inflammatory dry eye disease