Implantable Medical Devices Market Regional Analysis:
North American Market Insights
North America industry is predicted to hold largest revenue share of 43% by 2035. The landscape's substantial growth in the region is expected to be credited to the surge in neurological diseases, neurology devices, and cardiovascular diseases, coupled with the geriatric population in this region. According to the World Health Organization, more than 3 billion people globally suffer with neurological conditions in 2021.
According to the Centers for Disease Control and Prevention, it was projected that more than 695,000 people in the United States died from heart disease in 2021, which was about 1 in every 5 deaths.
More than 10% of Canadians suffer from neurological disorders, according to a report by the National Institutes of Health based on Canada’s National Population Health Study about neurological conditions.
APAC Market Insights
The Asia Pacific region will also encounter a huge influence on the implantable medical devices market value during the forecast period and will account for the second position attributed to the increasing cases of spinal cord injury. According to the World Health Organization, there are about 15 million people who suffer from spinal cord injuries (SCI).
The growing demand for better medical devices in this region is slated to increase. According to a report, China’s medical device industry is expected to set a share of about USD 36 billion in 2024.
There has been an increase in healthcare expenditures, which will increase the market share of the implantable medical devices market. According to the Organization for Economic Cooperation and Development (OECD), there was an increase of about 5.8% of Japan’s GDP used for health expenditure.
