“The global non-drug-eluting device market size was US$ 6.5 billion in 2023 and is likely to grow at a strong CAGR of 6.7% in the long run to reach US$ 10.4 billion in 2030”.
Market Dynamics
Introduction
Non-drug eluting devices perform specific functions without releasing drugs. They are used in medical procedures and treatments, focusing on physical or mechanical interventions. Implants typically need removal, while sutures dissolve naturally and do not require removal. Key properties of these devices include primarily providing structural support, being made from biocompatible materials, maintaining sterility to prevent infections, offering high durability and strength, and performing specific functions.
Market Drivers and Challenges
Multiple factors are currently driving the market for non-drug-eluting devices à increasing demand for implants for orthopedic, cardiovascular, and dental procedures, increasing technological advancement leading to customized implants, and the growing need for effective closure of wounds. The market faces limitations primarily due to the extensive testing required for regulatory approval and the differing standards across regions.
Recent Market JVs and Acquisitions:
A limited number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
- In 2019, Boston Scientific Corporation completed its acquisition of Vertiflex, Inc., a company that develops and markets a minimally invasive device designed to enhance physical function and alleviate pain associated with lumbar spinal stenosis (LSS), a condition where the spinal canal narrows and compresses nearby nerves.
Recent Product Development:
- In January 2024, Vy Spine obtained FDA clearance for its ClariVy OsteoVy PEKK Cervical IBF, a device intended for intervertebral body fusion at a single cervical spine level (C3 to T1) to address degenerative disc disease. It incorporates Vy Spine's distinctive OsteoVy lattice structure and the osseointegration OXPEKK material.
- In February 2020, Bioretec Limited was awarded CE certification for its Activa IM-Nail™ bioabsorbable intramedullary nail. These implants have demonstrated exceptional performance in repairing the growing bones of children and young individuals.
Market Segments' Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Application-Type Analysis
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Implants and Sutures
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Implants are expected to be the leading and fastest-growing application in the market.
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Degradability-Type Analysis
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Biodurable and Bioresorbable
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Biodurable continues to hold the largest and is likely to grow at the fastest rate in the market.
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End-User Type Analysis
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Hospital and Ambulatory Surgical Centers
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Hospitals will continue to dominate the market, whereas ambulatory surgical centers will show the fastest growth in the market.
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Region Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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North America is expected to maintain its reign and is likely to grow at the fastest rate.
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By Application Type
“Implants are expected to remain the dominant and fastest-growing application type in the market during the forecast period.”
- The global non-drug-eluting device market is segmented into implants and sutures.
- Implants are used in various medical-surgical procedures in the current market and are expected to grow rapidly with increasing cardiovascular, orthopedic, and neurological implants.
- Non-drug-eluting sutures are being increasingly used for surgical incisions in various types of surgeries. They are used to repair skin lacerations and traumatic wounds in the human body and hence are required where permanent sutures are not required.
By Degradability Type
“Biodurable is expected to remain the dominant and fastest growing degradable type in the market during the forecast period.”
- The market is segmented into biodurable and bioresorbable.
- Biodurable implants are highly used in the market. These implants are designed to serve as mechanical support for a longer duration or indefinitely depending on the requirements.
- Bioresorbable sutures are mostly used in surgical devices requiring absorption by the body over a certain period.
By End-User Type
“Hospital is expected to be the dominant end-user type, whereas ambulatory surgical centers will be the fastest-growing end-user type during the forecast period.”
- The market is segmented into hospitals and ambulatory surgical centers.
- Hospitals remain a key end-user market with increasing implant procedures in the hospitals. Also, sutures continue to be highly used in hospitals.
- Ambulatory surgical centers' strong growth is due to rising demand for urgent sutures in the market.
Regional Analysis
“North America is expected to remain the largest and fastest growing for non-drug-eluting devices during the forecast period.”
- North America's dominance in the market is driven by high implant surgeries in the region and the increased demand for biocompatible sutures in the region. The region has also got leading manufacturers of non-drug-eluting devices like Medtronic plc. and Johnson & Johnson. The region will show exceptional growth in the coming years with new medical implants getting approved by the FDA in the market.
- Asia-Pacific is also a strong growth region with new fuelled demand for implant procedures in the region mainly for orthopedic implants in countries like China and India.
Key Players
The market is moderately consolidated with the presence of more than 50 players. Most of the major players compete in some of the governing factors, including price, service offerings, regional presence, etc. The following are the key players in the global non-drug-eluting device market. Some of the major players are providing a complete range of services, including engine and airframe.
Here is the list of the Top Players (Based on Dominance)
- B. Braun Melsungen AG
- Boston Scientific Corporation
- ConMed Corporation
- DemeTECH Corporation
- Integra Lifesciences
- Johnson & Johnson Services Inc.
- Medtronic
- Peter Surgical
- Smith & Nephew plc.
- Stryker Corporation
- Teleflex Incorporated
Note: The above list does not necessarily include all the top players in the market.
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Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global non-drug-eluting device market is segmented into the following categories.
Global Non-Drug-Eluting Device Market, by Application Type
- Implants (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Sutures (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Global Non-Drug-Eluting Device Market, by Degradability Type
- Biodurable (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Bioresorbable (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Global Non-Drug-Eluting Device Market, by End-User Type
- Hospitals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Ambulatory Surgical Centers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Global Non-Drug-Eluting Device Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s global non-drug-eluting device market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Option
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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