US implantable medical devices market expected to reach USD 73,944.3 million by 2018
The US implantable medical devices market is projected to be worth USD 73,944.3 million by 2018. Orthopedic implants would be the leading segment, in terms of type of medical implants and is expected to contribute USD 38,043.3 million. On the basis of procedure, orthopedic implantation procedures are considered to be the leading segment in the US implantable medical devices market. The increasing number of orthopedic procedures and an increasing pool of the elderly are fueling demand for orthopedic implantation procedures, such as spinal fusion and fixation and total knee and hip replacements will increase. However, the high price factor of implantable devices, especially the ones that are developed based on high technology may impede the growth of the market. Moreover, the medical devices industry has emerged as one of the highest tax paying sectors in the US, after the implementation of the Obamacare in 2013. This has led to a hike in prices of implantable devices and patients need to shell out extra money from their pockets for implantation procedures.