The latest report on “Bio-implants Market (Type – Cardiovascular Implants, Orthopedic Implants, Spinal Implants, Ophthalmic Implants, and Other Implants; Material – Ceramic, Polymers, Biomaterial Metal, and Alloys; End User – Hospital, Research Center, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global bio-implants market is projected to grow at a CAGR of 4.2% over the forecast period of 2019-2025.
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Bio implants are made up of biosynthetic materials such as collagen, tissue-engineered products which include artificial skin or tissues as well as it is used to regularize the physiological functions. On the other hand, the manufacturer has launched many technological advancements such as 3D printing, a nanotechnology that led to a steady evolution of the global bio-implants market. Bio implants are used in various diseases such as cardiovascular, neurological, orthopedic, and dental surgeries that leading to markedly high surgical outcomes. In addition, drug-eluting stents, hormonal implants and implantable drug pumps are also other bioactive implants in this market.
The increasing demand of the bio-implants for the non-surgical or minimally invasive in various medical disciplines is the factor enhancing the growth of the market. In addition, bio-implants are easier as a well a more effective alternative to a root canal procedure for dental patients. Thereby, the growing number of dental patients drives the growth of the market. For instance, in 2017, according to the global burden of disease study 3.5 million people were affected by oral diseases such as dental caries and various tooth problems globally. On the other hand, according to the International Agency for Research on Cancer, oral cancer is in the top three types of cancers in the Asia Pacific.
Hence, increasing oral cancer disease propels the growth of the bio-implants market. Rising adoption of the sanitary lifestyle of the people is the major cause of numerous chronic disorders such as congenital & neuropathic disorders, CVD and osteoarthritis. This has pushed the demand for bio-implants across the globe. For instance, in 2018, in U.s, the American Heart Association, around 836,546 death of the cardiovascular disease patient had been estimated. Increasing technological advancement in the manufacturing of bio-implants by the manufacturer such as 3D printing, laser technology, and nanotechnology in the last decades are the factor thrusting the growth of the market. High cost associated with the bio-implants yet remains one of the major restraints to this market. Lack of favorable reimbursement issues is another factor hindering the growth of the same market. Moreover, the rise in government funding in healthcare offers favorable opportunities in this market.
Based on the region, North America holds the highest market share in this market and expected to continue its growth in the forecast period. Increasing adoption of the advanced technologies in various medical disciplines and the growing number of surgical procedures are the factors propelling the growth of the bio-implant in this region. On the other hand, Europe is the second-largest market share in this market due to the rising initiative of R&D activities and growing orthopedic disorder in this region. Asia Pacific is expected to grow at the highest CAGR in the forecast period due to the high incidence of spinal cord injuries. For instance, according to Tokyo’s Keio University’s 2019 publication, due to spinal cord injuries, more than 100,000 patients in Japan were paralyzed. However, increasing the development and approval of the new technology for bio-implants such as iPS technology in this country remains one of the market opportunities for the bio-implants.
The report on the global bio-implants market covers segments such as type, material, and end-user. On the basis of type, the sub-markets include cardiovascular implants, orthopedic implants, spinal implants, ophthalmic implants, and other implants. On the basis of material, the sub-markets include ceramic, polymers, biomaterial metal, and alloys. On the basis of end-user, the sub-markets include hospitals, research center, and other end users.
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The report provides profiles of the companies in the market such as Stryker Corporation, BIOTRONIK, Inc., Dentsply Sirona, Ethicon Inc., Wright Medical Group, Inc., Orthofix International N.V, Spinal Kinetics Inc., Zimmer Biomet, Smith & Nephew plc, Karl Leibinger Medizintechnik, and Medtronic plc.
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=> Comprehensive analysis of global as well as regional markets of the bio-implants.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.