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NewswireTODAY - /newswire/ -
London, United Kingdom, 2010/04/14 - ReportBuyer.com, the online destination for business intelligence for major industry sectors, has added a new report.
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According to the report “Implantable Medical Devices US industry forecasts for 2014 & 2019” US demand for implantable medical devices will increase 8.3 percent annually to $48 billion in 2014. Although weakened in the past few years by product recalls and safety controversies, especially in the cardiac implant segment, growth will remain strong. The development of next generation devices based on new technologies and improved materials will rectify recent performance problems experienced by implantable cardiac rhythm devices and lessen the thrombosis risk of drug-eluting coronary stents. Shortcomings in existing drug therapies will promote the increasing use of implantable devices in the treatment and management of cardiovascular, orthopedic, neurological, ophthalmic and various other chronic disorders.
The 374 page report states that US demand for orthopedic implants will increase 8.8 percent annually to nearly $26 billion in 2014, with the four major product segments: reconstructive joint replacements, spinal implants, orthobiologics and trauma implants. The market for reconstructive joint replacements, which is forecast to reach $10.5 billion in 2014, will gain upward momentum from an aging population and the widespread prevalence of physically active lifestyles. These trends will expand the number of persons suffering from degenerative and injured joints, especially deteriorated knees and hips. CRT devices to be fastest growing cardiac implant Demand for cardiac implants in the US is projected to increase 7.3 percent annually to $16.7 billion in 2014. Based on breadth of indications served, pacing devices will remain the top-selling group of cardiac implants. Cardiac resynchronization therapy (CRT) devices will post the fastest growth among pacing devices as they greatly improve therapeutic outcomes in patients afflicted with congestive heart failure. Advantages over anti-arrhythmia drugs will keep implantable cardioverter defibrillators (ICDs) the preferred treatment for tachycardia. Improvements in safety and performance properties will enable ICDs to recapture growth opportunities lost over the past year to product recalls. The lack of effective pharmaceuticals for bradycardia will continue to create a sizeable market for implantable cardiac pacemakers.
Other implantable medical devices are forecast to post demand of $5.7 billion in 2014, up 9.0 percent annually from 2009. Growth will be led by implantable stimulators for neurological conditions, brachytherapy for prostate cancer indications, cochlear devices for restoring hearing loss, and gastric bands for obesity intervention. These products offer significant performance and outcome advantages over alternative treatments. Among other implantable medical devices, silicone gel-filled breast implants and dermal and tissue implants for cosmetic surgery will fare the best in the marketplace, reflecting widening popularity among the appearance-conscious population.
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