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Description
The global implantable medical devices market size valued USD 83.08 Billion in 2020 and expected to reach USD 131.23 billion by 2027, at a CAGR of 6.62% during the forecast period 2021 to 2027. Implantable medical devices are used as replace or act as a fraction of or the whole biological structure. Currently, these devices are being used in many different parts of the body for various applications such as orthopedics, pacemakers, cardiovascular stents, defibrillators, neural prosthetics or drug delivery systems etc. An increase in the number of keratoplasty cases and corneal surgeries will boost market growth over the forecast period. The market for Implantable medical devices driven by technological advances in implants like multifocal intraocular lens technology and rising awareness about aesthetics among young patient population expected to fuel the market for Implantable medical devices over a period of forecast. The market is highly fragmented with several local and international players offering different implantable products in the marketplace. Players or service providers in the market are coming up with a customized solution that addresses the patient requirements. Players in the market are developing newer designs which are influenced by viscoelastic technology and others to gain larger market revenue share in the market. Moreover, end users in the market continuously working towards educating the patients regarding implantation surgeries and post-surgery precautions.
