Global Biological Implants Market to grow with a CAGR of 6.30 %
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Biological Implants Market.
According
to TechSci Research report, “Global Biological Implants Market Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Biological Implants
Market has valued at USD 7.82 billion in 2022 and is anticipated to witness an
impressive growth in the forecast period with a CAGR of 6.30% through 2028. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market. Medical tourism drives the demand for
biological implants. Medical procedures, including the implantation of
biological devices, can be significantly more affordable in certain medical
tourism destinations compared to patients' home countries. Patients may seek
lower costs for high-quality healthcare and choose to have implant procedures
done abroad. Medical tourists often choose destinations known for specialized
medical services and expert surgeons. They might travel to access renowned
surgeons or healthcare facilities that offer cutting-edge implant technologies
and procedures. In some countries with nationalized healthcare systems,
patients may experience long waiting times for certain medical procedures.
Medical
tourists opt for quicker access to implant surgeries in medical tourism
destinations. Some patients, particularly those seeking cosmetic implants,
prefer to have their procedures done in a private and confidential setting,
away from their local community. Medical tourism offers them this level of
privacy. Many medical tourism destinations offer cultural experiences and
recreational opportunities that can complement the medical journey. This can
make the medical trip more appealing to patients, as they can combine their
treatment with leisure activities.
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" Global Biological Implants Market.”
In July 2023,
Smith+Nephew, a prominent global medical technology company, has introduced its
REGENETEN Bioinductive Implant in the Indian market. This implant has already
made a significant impact worldwide, with over 100,000 procedures completed
since its inception. The REGENETEN implant, which is collagen-based, supports
the body's natural healing process by promoting the growth of new tendon-like
tissue. This biological augmentation helps in addressing rotator cuff issues
and altering the progression of the disease. The implant is delivered
arthroscopically through a small incision at the site of the rotator cuff
tendon injury and is roughly the size of a postage stamp. Within six months,
the implant becomes unnoticeable, with the development of new tendon-like
tissue and collagen alignment that suggests functional loading. In India, the
REGENETEN Bioinductive Implant is introduced with a solid track record of more
than a decade, backed by clinical results from 18 studies that encompass
various aspects of rotator cuff disease, ranging from partial thickness tears
to large (3-5cm) and massive (5cm+) full-thickness tears. Long-term durability and complications
are significant challenges in the global biological implants market. These
challenges can impact patient outcomes, increase healthcare costs, and affect
the reputation of implant technologies. The durability of biological implants
is a key concern, especially for implants that are intended to provide
long-term solutions, such as joint replacements or cardiovascular devices.
Premature implant failure can necessitate costly revisions and negatively
impact a patient’s quality of life. Implants that involve moving parts, such as
joint replacements or heart valves, can experience wear and tear over time.
This wear can lead to mechanical failure, reduced functionality, and the need
for additional surgeries.
Biological implants can be vulnerable to
infection, which may not manifest immediately but can develop over time.
Infections often require implant removal and replacement, leading to
complications and added costs. Ensuring the long-term biocompatibility of
implant materials is crucial. Some patients may develop allergic reactions or
other adverse responses to implant materials, leading to complications that
emerge well after the initial surgery. Implants that rely on tissue integration
can sometimes face challenges with rejection or encapsulation by the host's
immune system. This can result in the degradation of the implant's
functionality.
Global Biological Implants Market is segmented based
on Product, Application, and by region.
Based on the Application, Global Biological
Implants Market is segmented into
Cardiovascular Implants, Orthopedic
Implants, and others Soft Tissue Implants. Orthopedic implants are a subset of biological implants that
specifically address musculoskeletal conditions and injuries. They are designed
to replace or support damaged or diseased bone or joint structures within the
musculoskeletal system. Orthopedic implants are considered biological implants
because they interact with the body's natural tissues, and they play a vital
role in restoring or improving the function of the musculoskeletal system.
Orthopedic implants are used to
address a wide range of musculoskeletal conditions, including osteoarthritis,
fractures, ligament tears, spinal deformities, and joint instability. They are
essential in enhancing patient mobility, reducing pain, and improving the
overall quality of life for individuals with orthopedic conditions.
Based on Region, North America held
the largest share in the Global Biological Implants Market. The region's
healthcare system, with its emphasis on patient care and access to the latest
medical treatments, supports the demand for advanced medical devices like
biological implants. The relatively strong economies in North America make it
possible for patients to afford advanced medical treatments, including
biological implants. Additionally, private health insurance coverage is common,
further promoting the adoption of these implants. North America has a
well-trained and skilled healthcare workforce, including surgeons and
specialists who are proficient in performing implantation procedures. This
expertise enhances the adoption of biological implants. The region is home to
numerous prominent medical device manufacturers and companies specializing in
biological implants. This competitive environment drives innovation and
provides a wide range of options for healthcare providers and patients. The
presence of established healthcare policies and reimbursement systems in North
America facilitates the acceptance of biological implants. Patients often have
access to insurance coverage that helps with the cost of these procedures.
Some
of the major companies operating in the Global
Biological Implants Market include:
- Integra
LifeSciences
- NuVasive,
Inc.
- Edwards
Lifesciences Corporation
- Stryker
- LifeCell
International Pvt. Ltd.
- Medtronic
- Osteotec
Limited
- BioPolymer
GmbH & Co KG
- Johnson
& Johnson
- Baxter
International Inc.
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“Certain areas, particularly in North
America, are projected to exert significant demand for Biological Implants. The
growth in the competitive landscape and the presence of well-established
companies in the market, committed to enhance the overall wellbeing of people each
year, are expected to contribute to a remarkable growth of the Global Biological
Implants Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
Biological Implants Market by Product (Autografts, Allografts, Xenografts), By
Application (Cardiovascular Implants, Orthopedic Implants, others
Soft Tissue Implants), By
Region, By Competition Forecast
& Opportunities, 2018-2028F has evaluated the future growth potential
of Global Biological Implants Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide innovative market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in Global
Biological Implants Market.
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