Smart Implants Market Size to Reach USD 22.5 Billion by 2032

The global smart implants market size was valued at USD 5 billion in 2023 and is anticipated to reach around USD 22.5 billion by 2032, expanding at a double digit CAGR of 18.2% between 2023 and 2032.

Ottawa, March 11, 2024 (GLOBE NEWSWIRE) — The global smart implants market size is calculated at USD 6.1 billion for 2024 and is projected to surpass around USD 15.8 billion by 2030, a study published by Towards Healthcare a sister firm of Precedence Research.

According to the November 2021 estimates, around 8000,000 knee replacement surgeries are performed annually in the U.S., creating a potential market for smart implants.

Smart implants are modern medical devices with built-in sensors capable of monitoring, diagnosing and treating various medical conditions. The rise of smart implants marks the start of a fascinating new medical era. These next-generation devices go beyond typical implants by combining sensors, microprocessors and even artificial intelligence (AI), allowing them to interact with the body in real time and provide valuable data to patients and healthcare providers. The devices connect with the body and deliver real-time data to the patient and their healthcare professional. They use sensors, microprocessors and other electronic components to assess pressure, force, strain, stress, displacement, proximity and temperature within the body.

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This technology enables medical professionals to make more informed judgments about patient care and treatment by monitoring the implant’s health and function. Smart implants serve as a helpful tool to enhance patient experiences after implant surgery since they offer continuous monitoring and assist patients in managing their recovery. Furthermore, smart implants can potentially accelerate the shift to more individualised medical care. However, developing and using these devices involves a variety of technical, safety, regulatory, financial, and privacy difficulties that must be overcome before they can be broadly utilised.

Persona IQ, the World’s First Smart Knee

Zimmer Biomet Holdings, Inc. and Canary Medical disclosed FDA approval of the world’s first smart knee Persona IQ, which combines Zimmer Biomet’s successful Persona knee with Canary sensor technology and measures range of motion, steps, speed and other gait data. This data is fed into Zimmer Biomet’s mymobility platform, which provides surgeons and patients with crucial post-operative progress information.

Key features of Persona IQ

  • Persona IQ measures key recovery metrics through a sensor implanted in the knee.
  • Data transmits wirelessly to a home base station and feeds into the cloud-based mymobility platform.
  • Surgeons can compare pre-op (mymobility) and post-op (Persona IQ) data for informed care decisions.
  • Patients gain access to their mobility data, empowering them in their recovery journey.
  • Persona IQ marks the first in a planned Zimmer Biomet smart implant technology portfolio.

Persona IQ is only the beginning. Exciting advances in smart implant technology have enormous potential for the future of orthopaedic care. As the field of digital health evolves, Persona IQ represents a crucial step toward customized and data-driven joint replacement surgery.

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Real-time Monitoring with Sensors

The combination of smart implants and real-time monitoring offers a transformational future for healthcare, reducing the boundary between medicine and technology. Imagine a world in which sensors in your body smoothly communicate minute-by-minute data, providing doctors and patients with unique insights into health and wellness. Continuous monitoring allows clinicians to take action proactively, identifying health risks before symptoms appear. Imagine implants that detect early signs of diabetes or forecast heart arrhythmias, saving lives through prompt treatment. This ongoing data stream also powers personalised therapy therapies, which adjust medications to specific needs and reactions. Medication effectiveness and stimulation settings for chronic illnesses such as Parkinson’s can be modified in real time to optimise outcomes.

Treating chronic conditions from the comfort of one’s home has become possible with the advent of remote patient monitoring. Smart implants can monitor activity levels and therapeutic adherence, alert doctors about potential issues and enable remote care. This, in turn, ultimately reduces hospital visits for follow-up and enhances the quality of patients’ lives, offering ease of treatment. Continuous monitoring enables the early diagnosis of health concerns before symptoms arise. Imagine implants that detect pre-diabetic blood sugar variations or forecast heart arrhythmias before they become life-threatening. This preemptive strategy could avoid several issues and save lives.

Personalized Therapy

  • Your diabetes implant regulates your insulin pump in real-time based on your blood sugar level, allowing you to maintain a balance throughout the day.
  • Deep brain stimulation for Parkinson’s disease can be fine-tuned in real time, allowing for exact parameters to minimize tremors and enhance mobility while reducing adverse effects.
  • Chemotherapy treatment is customized to your reaction, limiting damage while boosting efficacy versus the particular type of cancer.

These are only a few possibilities with smart implants. Doctors can easily shift from a one-size-fits-all approach towards personalized care to managing individual patient needs in real time with constant data feeds from smart implants. This level of personalization can transform chronic illness management, enhance treatment outcomes and enable patients to take an active role in their healthcare. However, everything is not perfect. Concerns about data privacy, ethics and accessibility must be handled thoughtfully. We must ensure everyone can access this life-changing technology regardless of economic circumstances. And, of course, we must strike the proper balance between individualized medical data and keeping a healthy relationship with our bodies. The future of personalized medicine with smart implants is overflowing with possibilities, and facing these issues head-on will be critical to realizing its full potential for everyone.

Patient Engagement

By providing people with real-time insights into their health and encouraging closer collaboration with healthcare teams, this dynamic duo can alter the traditional doctor-patient relationship. Consider how patients would feel if their smart implants provided immediate accessibility to their vital indicators, blood sugar levels and brain activity. This allows consumers to actively participate in their healthcare decisions and alter their lifestyles in response to real-time feedback. Smart implants can generate customized analyses and make sensible suggestions based on unique data trends. This enables people to take charge of their health and proactively manage chronic diseases.

Quality Data

Precise data from implants and modern analytics deliver more accurate representations of individual health conditions. This allows for precise diagnosis of complex illnesses, specific prognoses and customized treatment strategies. High-quality data enables the fine-tuning of smart implant algorithms and settings. This improves device performance, reduces side effects and increases patient therapeutic advantages. When analysed using sophisticated algorithms, continuous data streams from implants can anticipate potential health concerns before they occur. This permits proactive therapies, which reduce disease development and improve outcomes.

Pain Management with Smart Implants

Chronic pain, a secret pandemic that affects millions, could pose a difficult problem for both patients and healthcare practitioners. Traditional means of treatment, including as drugs and physical therapy, can provide comfort, but their effectiveness is generally limited and has adverse effects. In recent years, however, a ray of hope has appeared in the form of smart implants, tiny technological marvels that provide a customised and possibly radical approach to pain management.

One such technology is spinal cord stimulation. This implant delivers mild electrical pulses to the spinal cord, which inhibit pain sensations as they go to the brain. Unlike typical pain medications, which can affect the entire body, smart implants provide customized therapy while limiting unwanted effects. Furthermore, the stimulation intensity can be modified remotely, providing personalized pain relief depending on individual requirements.

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Orthopedic Smart Implants

The area of orthopaedic surgery is transforming, propelled by the development of smart implants that do more than replace joints. These digital technologies are transforming mobility and rehabilitation, offering patients a future of improved function, customized treatment, and proactive health care.  The field of orthopaedic smart implants is quickly growing, potentially changing bone and joint health. These outstanding devices, embedded in the body, provide a wealth of real-time data, opening ways for specific therapy, better outcomes, and a more proactive approach to orthopaedic care.

Physician’s Viewpoint

  • Real-time data from implanted sensors can provide vital information about bone integration, joint stability, and patient mechanics. This allows for micro-adjustments during surgery, resulting in optimal implant placement and long-term success.
  • Remote monitoring enables doctors to follow their patients’ progress after surgery, recognizing potential issues early and changing rehabilitation procedures as needed. This promotes proactive care, lowering hospital readmission rates and increasing patient outcomes.
  • Data-driven research obtained from smart implant use guides the development of next-generation devices and surgical procedures. This continual improvement cycle results in safer and more effective practices for everyone.

Patient’s Perspective

  • Real-time input from the implant enables personalized rehabilitation strategies based on individual needs and recovery rates. This promotes healing, alleviates pain and reduces the likelihood of problems.
  • Advanced prosthetics can enhance functioning beyond pre-surgery levels by including changeable stiffness and mobility assistance. This allows patients to regain independence and improve their quality of life.
  • Peace of mind comes from knowing that the implant continually monitors their health and notifies their doctor of potential difficulties. This creates a sense of security and encourages proactive health management.

The Future of Smart Implants

Brain-Computer Interface (BCI) Startup Synchron Tests Mind-Controlled Computing on Humans

Just imagine tools that can read your mind or machines that can be controlled through your thoughts. It might seem like science fiction, but scientists have begun integrating mind and machine through brain-computer interfaces (BCIs). Even though much of the brain is still unknown, BCIs can detect brain signals associated with thought and movement. This method holds considerable promise, especially for those suffering from neurological conditions.  However, research has revealed health and ethical concerns, such as those associated with animal experimentation. Watch our most recent film to learn more about the future of BCIs.

Synchron, a brain-computer interface firm sponsored by Jeff Bezos and Bill Gates, is creating technologies to help paralysed people recover control of their lives, published by CNBC in February 2023. Their device, known as the Stentrode, is implanted through blood vessels, allowing users to control technology solely with their minds. Synchron has received FDA approval for early feasibility trials and has implanted the Stentrode in 7 humans. So far, it has been tried on seven patients in the United States and Australia, with encouraging results. While companies like Neuralink are developing comparable technology, Synchron’s less invasive technique may make it more accessible and scaleable. The company is conducting an early feasibility trial and aims to go to a critical clinical trials soon, bringing it closer to commercialization.

Smart Magnetic Drug Delivery

What if small, smart implants are placed in your body that continuously check your health and provide precise dosages of medication where needed? This concept of individualized care is becoming more attainable as smart implant technology advances. Physicians could remotely control the release of medication via magnetic fields, assuring accurate and targeted delivery while reducing unwanted effects.

Furthermore, the same MNPs (Magnetic Nanoparticles) may be utilized to track your health state. By sensing changes in temperature, acidity, or other indicators, the implant may send critical information to your doctor, allowing for proactive adjustments to your treatment strategy. This combination of drug administration and real-time monitoring could transform chronic disease care. Consider diabetics receiving exact insulin doses based on real-time blood sugar readings or cancer patients receiving targeted chemotherapy delivered straight to their tumours. The possibilities are endless, and they promise to enhance patient outcomes and quality of life.

Of course, obstacles persist. The long-term safety and biocompatibility of implants must be properly studied. Regulatory difficulties and ethical concerns must also be addressed carefully. However, the potential benefits of smart implants based on MNP technology are apparent, paving the way for a future of personalised, accurate and effective care.

Browse More Insights of Towards Healthcare:

  • The global CAR T-Cell therapy market is estimated to grow from USD 3.87 billion in 2022 to around USD 88.52 billion by 2032, a staggering at 29.8% of CAGR between 2023 and 2032.
  • The Europe cell culture media market is estimated to grow from USD 771.2 million in 2022 to reach around USD 1,453.2 million by 2032, growing at a 6.29% CAGR between 2023 and 2032.
  • The global insulin pump market was valued at USD 5.71 billion in 2022 and is projected to hit USD 15.28 billion by 2032, expanding at a CAGR of 9.65% from 2023 to 2032.
  • The global behavioral rehabilitation market size accounted for USD 154.67 billion in 2022 to surpass around USD 221.33 billion by 2032, expanding at a CAGR of 3.58% from 2023 to 2032.
  • The cell and gene therapy manufacturing market size was valued at USD 3,755.4 million in 2022 to reach around of USD 13,603.4 million by 2032, at a double-digit CAGR of 16.25% from 2023 to 2032.
  • The global AI in medical coding market size was projected at USD 2.06 billion in 2022 to reach around USD 7.15 billion by 2032, staggering at a CAGR of 13.3% between 2023 and 2032.
  • The global life science tools market size was valued at USD 111.28 billion in 2022 to soar around USD 367.16 billion by 2032, expanding at a CAGR of 13% between 2023 and 2032.
  • The global 5G healthcare market size to grow from USD 41.89 billion in 2022 to reach around USD 266.60 billion by 2032, expanding at a double-digit CAGR of 20.82% between 2023 and 2032.
  • The global metaverse in healthcare market size was valued at USD 8.29 billion in 2022 and is projected to hit USD 81.99 billion by 2032, growing at a CAGR of 26.3% between 2023 and 2032.
  • The global health insurance market size was estimated at USD 1.54 trillion in 2022 to hit around USD 3.02 trillion by 2032, growing at a CAGR of 7.4% between 2023 and 2032.

Major Breakthroughs in the Field

  • In January 2024, Medtronic received FDA approval for the Percept RC Deep Brain Stimulation (DBS) system. Medtronic’s Percept family includes the BrainSense technology, Percept PC neurostimulator, and SenSight directional leads.
  • In May 2023, DirectSync Surgical received the FDA’s breakthrough device designation for their patient-powered smart spinal fusion device.
  • In August 2021, Zimmer Biomet Holdings, Inc. and Canary Medical disclosed FDA approval of the world’s first smart knee Persona IQ.

Market Players

  • Zimmer Biomet
  • DirectSync Surgical
  • Exactech, Inc.
  • Medtronic
  • Boston Scientific Corporation
  • Abbott
  • NEVRO CORP
  • Biotronic
  • Cochlear Ltd.

Market Segmentation

By Application

  • Cardiac Rhythm Management
  • Orthopaedic Surgery
  • Neuromodulation
  • Hearing
  • Others

By Implant Type

  • Orthopaedic Implants
  • Cardiac Implants
  • Brain Stimulators
  • Spinal Cord Stimulators
  • Cochlear Implants
  • Others

By End User

  • Hospitals and Clinics
  • Specialty Centers
  • Ambulatory Surgical Centers

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations. We are a global strategy consulting firm that assists business leaders in gaining a competitive edge and accelerating growth. We are a provider of technological solutions, clinical research services, and advanced analytics to the healthcare sector, committed to forming creative connections that result in actionable insights and creative innovations.

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