Overview and Scope
Bio implants are prosthesis or artificial medical devices that replace missing tissues and supports a damaged biological structure to improve biological functions of the body and are made up of material obtained of human or animal origin or biosynthetic materials. The bio-implants are used to assist and regularize human physiological functions.
Sizing and Forecast
The bio-implants market size has grown rapidly in recent years. It will grow from $116.28 billion in 2023 to $128.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to aging population and chronic diseases, rise in surgical procedures, increased life expectancy, regulatory support and standards..
The bio-implants market size is expected to see rapid growth in the next few years. It will grow to $191.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to customization and personalization, growth in minimally invasive procedures, shift towards regenerative medicine, remote monitoring and telemedicine, supportive regulatory environment.. Major trends in the forecast period include customized and personalized implants, biodegradable and bioresorbable implants, advancements in biomaterials, regenerative medicine and tissue engineering, smart implants and wearable technologies..
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Segmentation & Regional Insights
The bio-implants market covered in this report is segmented –
1) By Type: Cardiovascular Implants, Dental Implants, Spinal Bio-Implants, Orthopaedic Implants, Ophthalmic Implants, Other Types
2) By Material: Metallic, Ceramic, Polymer, Biological
3) By Origin: Allograft, Autograft, Xenograft, Synthetic
4) By End-User: Ambulatory Surgical Centers, Clinics, Hospital, Other End-Users
North America was the largest region in the bio-implants market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing prevalence of chronic conditions is expected to drive the bio-implant market going forward. Chronic conditions such as cardiovascular diseases and arthritis refer to medical conditions that persist for a year or longer, require continuous medical care, and restrict everyday activities. The bio-implants are used in managing and monitoring chronic conditions by reducing the mortality rate caused by chronic diseases. For instance, according to data published in April 2021 by the World Health Organization, a Switzerland-based health organization for international public health, 41 million people die every year due to chronic diseases globally, close to 71% of all deaths. Therefore, the increasing prevalence of chronic conditions is fueling the growth of the bio-implant market.
Key Industry Players
Major companies operating in the bio-implants market report are Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Dentsply Sirona Inc., Johnson & Johnson, Arthrex Inc., Boston Scientific Corporation, Smith & Nephew plc, B. Braun Melsungen AG, Victrex plc, Straumann Holding AG, Danaher Corporation, Cardinal Health Inc., Organogenesis Holdings Inc., Exactech Inc., Osprey Medical Inc., Edwards Lifesciences Corporation, Biotronik SE & Co. KG, aap Implantate AG, Abbott Laboratories, Biotronik Inc., Cook Medical LLC, Globus Medical Inc., Integra LifeSciences Holdings Corporation, LivaNova PLC, MicroPort Scientific Corporation, NuVasive Inc., Orthofix Medical Inc., RTI Surgical Holdings Inc., Terumo Corporation
The bio-implants market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The bioimplants market backed by the increasing investments in the R activities is growing pervasively, witnessing an exponential growth.
The burgeoning healthcare sector, worldwide is another key factor driving the growth of the market, extensively absorbing bioimplants in various surgeries, ranging from orthopedic to heart surgeries.
Acknowledging the exponential traction, the market witnesses currently, Market Research Future (MRFR) in its recently published study report asserts that the global bioimplants market is projected to accrue voluminously by 2023 registering a CAGR over 8.6% during the review period (2018 to 2023).
Request Sample Copy:https://www.marketresearchfuture.com/sample_request/6896Substantial investments put in the development of innovative bioimplants, by the key market players are paying off well, fuelling the market growth.
Global Bioimplants Market - Segmentations For enhanced understanding, the report has been segmented into five key dynamics.By Type: Cardiovascular Implant, Cardiovascular Implant, Dental Implants, Spinal Bio-Implants, Orthopedic Implants, and Ophthalmic Implants among others.
By End-User: Hospitals, Clinics, and Specialty Centers among others.By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.Global Bioimplants Market - Geographical AnalysisThe North American region, heading with the favorable government regulations and the increasing integration of bioimplants in the region, dominates the global bioimplants market.
Global Bioimplants Market: Information by Type (Cardiovascular Implant, Dental Implants), Material (Biological Materials, and Others), Origin (Autograft, Allograft, Synthetic, and Others), End-User (Hospitals, Clinics and Others) — Forecast till 2027Market Highlights:Bioimplants are essential in medical procedures which are conducted to recover the functionality of damaged bio structure.
Bioimplants are made up of biosynthetic materials such as ceramics, polymers and alloy and compatible for human body.
The increasing spinal cord injuries, technological advancements, rising occurrences of lifestyle disorders, and growing geriatric population are the major factors driving the growth of the global bioimplants market.
Additionally, increasing R spending and aggressive strategies adopted by the top players, such as mergers and acquisitions, are contributing to the growth of the market.
For instance, in December 2017, Smith & Nephew acquired Rotation Medical Inc. for USD 125 million to expand its portfolio in bioimplants and to get access to the rotator cuff system of Rotation Medical.Thehigh costs associated with bioimplants, rising cost of bioimplant surgeries, unfavorable reimbursement policies and dearth of technicians may hamper market growth during the assessment period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6896Regional Analysis:The market in the Americas is expected to dominate the global bioimplants market during the forecast period owing to the growing geriatric population, increasing prevalence of chronic diseases, technological advancements in healthcare and rising occurrences of injuries related to spinal cord.
The European market is expected to be the second-largest due to government funding and support of the healthcare sector, increasing cardiovascular and orthopedic disorders in the region.
