Category : Healthcare and Pharmaceuticals | Published at : November-2020 | Delivery Format : PDF | Status: Published | Pages : 190
The market for bioimplants is expected to grow at a CAGR of around 6.0% from 2020 to 2027 and expected to reach the market value of around US$ 148.5 Bn by 2027.
Bio-implant comprises of biological tissues having conjugated thereto adjunct molecules. Bio-implants are prostheses used to regularize physiological functions and are made up of biological material. These are made up of biosynthetic materials like collagen, and tissue-engineered products like artificial skin or tissues.
Market Dynamics
The rising aging population and innovation in implant technologies are driving the market growth. The changing lifestyles are accelerating demand for advanced bio-implants across the globe. The increasing awareness about cosmetic implants and non-surgical bio-implants is further bolstering the market value. The emerging preference for minimally invasive surgeries (MIS) is further propelling market growth. Furthermore, the rapid development of the healthcare sector of emerging economies and ongoing research and development activities are anticipated to create potential opportunities over the forecast period from 2020 to 2027.
On the other hand, the high cost of implants and stringent regulatory framework are restraining the growth of the bio-implants market.
Segment Instance
Orthopedic Implants segment accounted for the maximum revenue share in the global market
In 2019, orthopedic implants leading the bio-implants market with maximum revenue share. These implants are manufactured to replace a missing joint or bone or to support a damaged bone. These orthopedic implants are used for abnormal conditions such as losing a limb, breaking a leg, or a congenital defect. Titanium is one of the most used materials for orthopedic implants. The incredible strength and toughness of the material are supporting its growth in the market. The increasing aging population is bolstering the cases of osteoporosis which is supporting the demand for ceramics, a material that aids surgeons in replacing degenerative tissue and bone.
North America accounted for the maximum revenue share in the bioimplants market
North America is leading the market with maximum revenue share and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The well-established healthcare infrastructure and awareness about the implants in the developed economies like US and Canada are supporting the regional market value. The increasing incidences of chronic diseases in the aging population are accelerating the demand
Asia Pacific is projected to exhibit fastest growth with major CAGR (%)
Asia Pacific is experiencing major growth (%) along with its emerging economies including China and India. The developing healthcare infrastructure and increasing investment in the field in order to provide efficient benefit to the patients are supporting the regional market growth. For instance, according to the publication of Japan, Tokyo’s Keio University’s 2019, around 100,000 patients in Japan were paralyzed due to spinal cord injuries. However, approval of iPS technology is expected to help such patients in the country in near future. The factor is projected to provide potential opportunities in the bio-implants market.
Key Market Players
The players profiled in the report include Abbott Laboratories (St Jude Medical), Bausch & Lomb, Boston Scientific, B Braun Melsungen AG, C.R. Bard, Cyberonics, Dentsply/Astratech, DePuy Synthes, Edwards Lifesciences Corporation Sorin SpA, Gore (WL) & Associates Incorporated, Integra Life Sciences, Johnson & Johnson, Medtronic, Nobel Biocare, Novartis(Alcon), Smith & Nephew, Straumann, Stryker, and Zimmer Biomet Holdings. The major market players were involved in mergers and acquisitions, partnerships & collaborations, and new Source development for the expansion of market share (%).
Market Segmentation
Market By Product
Cardiovascular Implants
Orthopedic Implants
Spinal Implants
Dental Implants
Ophthalmic Implants
Neurostimulators Implants
Others
Market By Origin
Allograft
Autograft
Xenograft
Synthetic
Market By Material
Ceramics
Polymers (natural polymers & synthetic polymers)
Alloys
Biomaterial Metal (Titanium, Gold, Silver, Platinum)
Market By End-use
Hospitals
Clinics
Specialty Centers
Market By Geography
North America
- U.S.
- Canada
Europe
- UK.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
The market for bioimplants is expected to reach a market value of around US$ 148.5 Bn by 2027.
The bioimplants market is expected to grow at a CAGR of around 6.0% from 2020 to 2027.
Orthopedic Implants is the leading segment by product in the bioimplants market
The rising aging population and innovation in implants technologies, changing lifestyles, accelerating demand for advanced bio-implants, increasing awareness about cosmetic implants and non-surgical bio-implants, and emerging preference for minimally invasive surgeries (MIS) are some of the factors driving the market growth.
Abbott Laboratories (St Jude Medical), Bausch & Lomb, Boston Scientific, B Braun Melsungen AG, C.R. Bard, Cyberonics, Dentsply/Astratech, DePuy Synthes, Edwards Lifesciences Corporation Sorin SpA, Gore (WL) & Associates Incorporated, Integra Life Sciences, Johnson & Johnson, Medtronic, Nobel Biocare, Novartis(Alcon), Smith & Nephew, Straumann, Stryker, and Zimmer Biomet Holdings are the prominent players in the market.
North America held the highest market share in the bioimplants market
Asia Pacific is expected to be the fastest growing market over the forecast period
