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May 29, 2023

Expansion of Global Smart Medical Implants Market Expected to Achieve US$ 24.8 Billion by 2031, with a Compound Annual Growth Rate (CAGR) of 18.1%: TMR Report 

Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global smart medical implants market is projected to flourish at a CAGR of 18.1% from

Wilmington, Delaware, United States, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global smart medical implants market is projected to flourish at a CAGR of 18.1% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 24.8 billion is anticipated for the market in 2031. As of 2023, the market for smart medical implants is expected to close at US$ 6.7 billion

The rapidly growing geriatric population, increased prevalence of chronic diseases, and technological advancements in medical implantable devices are the main factors contributing to market growth.

Increased demand for minimally-invasive surgical methods and increasing healthcare expenditure, especially in developed countries, support the adoption of advanced medical technologies, including smart medical implants, to improve patient care.

Rapid urbanization, rising levels of disposable income among the population, and significant research and development efforts by key competitors are some of the other factors driving market demand.

Increasing technological advances in smart implants as they can incorporate user interfaces or smartphone apps that provide patients with information on their progress, exercise recommendations, and reminders for medication or therapy adherence, these advances to contribute to the increased demand for smart medical implants

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Market Snapshot:

Key Takeaways from the Market Study

Smart Medical Implants : Key Trends and Opportunistic Frontiers

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Smart Medical Implants Market – Regional Analysis

Competitive Landscape

The smart medical implant market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global smart medical implant market report:

Key Developments in the Smart Medical Implants Market

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Smart Medical Implants Market

Application

End-user

Region

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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