The U.S. implantable medical devices market is set to hit $73.9 billion by 2018, based on a Transparency Market Research report, according to medGadget.
Here are six takeaways:
1. The market is expected to grow at a compound annual growth rate of 8 percent to 2018.
2. The increasing prevalence of chronic diseases as well as a growing aging population will spur market growth.
3. Other market drivers include an increasing healthcare expenditure and purchasing power parity.
4. The costliness of implantable devices, however, will serve as a barrier to market growth.
5. The orthopedic segment is leading the market, set to reach revenue of $38.04 million by 2018.
6. Zimmer Biomet, Stryker and Abbott Laboratories lead the market.
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