Bio-Implants Market to Grow at 10.70% CAGR through 2029
Rising
preference toward minimally invasive surgeries and increasing burden of chronic
diseases is
expected to drive the Global Bio-Implants Market growth in the forecast period,
2025-2029.
According to
TechSci Research report, “Bio-Implants Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2019-2029F”, the Global
Bio-Implants Market stood at USD 125.30 billion in 2023 and is anticipated to project steady growth in
the forecast period with a CAGR of 10.70% through 2029. Factors such as a wider range of
surgical procedures, rising healthcare expenditure, growing geriatric
population, sports-related injuries, scientific advancements, and the
prevalence of chronic illnesses are projected to boost the global bio-implants
market.
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"Global Bio-Implants Market”
The increasing
utilization of bio-implant surgeries, as opposed to arthroscopy and other
therapeutic treatments like physiotherapy, is a significant driving factor for
the bio-implant market. This preference is attributed to associated benefits
such as higher success rates and biocompatibility. Other market drivers include
a rising incidence of cardiovascular diseases (CVD) and orthopedic disorders, a
large senior population base, lifestyle changes, and growing acceptance of
aesthetic procedures. Increasing awareness of aesthetic implants and
advancements in bioengineering technologies also contribute to the growth of
the bio-implant market. The global bio-implants market is expected to witness
growth due to the increasing cases of bone diseases, fractures, cardiovascular,
orthopedic, and spinal disorders.
Technological
advancements in surgical products and a rise in the number of accidents are
further driving market growth. However, the high cost of implants, regulatory
challenges, and unfavorable reimbursement policies pose significant obstacles
to the market's expansion.
The presence of diagnostic centers and clinics, emerging markets, and the
growth of medical tourism offer major opportunities. Increased consumer
awareness of aesthetic implants, technological advancements in implants, and
the demand for non-surgical bio-implants are also expected to contribute
significantly to the market's growth. Mergers and acquisitions, new product
introductions, partnerships, collaborations, and increased research and
development efforts are key factors driving market expansion. The market is
primarily driven by an aging population and the prevalence of chronic diseases.
Technological advancements in industry products, coupled with increased awareness
among the population, also foster market growth.
However, factors
such as a lack of expertise and high implantation costs hinder the growth of
the bio-implants market. For instance, in March 2019, Boston Scientific received CE clearance from the
European Union for their next-generation Watchman FLX anti-stroke implant,
designed to reduce the risk of stroke. Nevertheless, challenges such as the
high cost of bio-implants, increasing procedure costs, and unfavorable
reimbursement policies are likely to restrict the market's expansion.
The Global Bio-Implants
Market is segmented into product type, material, end user, regional distribution, and company.
The global
bio-implants market, based on the material segment, is categorized into
biomaterial metal & alloys, ceramics, polymers, and other materials. The
Biomaterial Metal & Alloys segment is projected to experience significant
growth due to its shorter implant fixation procedures. Cardiovascular implants
are utilized in pacemakers and heart valve replacement surgeries. Prosthetic
& orthodontic devices, facial plates & screws, and bone fixation
materials are widely employed in biomedical applications. Biomaterial Metal
& Alloys implants, including titanium alloys, aluminium alloys,
zirconium-niobium, stainless steel, cobalt-chromium alloys, and tungsten
alloys, are gaining popularity due to their numerous advantages. Their
favorable biocompatibility with the human body is a significant advantage.
Biomaterial metallic implants offer superior corrosion resistance and better
tensile strength, making them a preferred choice over other materials. The
ceramic implants segment is expected to hold a substantial market share in the
forthcoming years, primarily due to their aesthetic appeal, particularly in
dental implants. They provide improved gap-filling between the implant and the
abutment, thereby reducing the risk of inflammations. Advanced ceramic implants
exhibit better gingival attachment compared to other materials, resulting in a
lower probability of gingivitis.
Based on
region, the North America is projected to dominate the market. North America is
projected to dominate the bio-implants market in the foreseeable future,
attributed to the increasing prevalence of orthopedic disorders among the
American population. The adoption of advanced biomedical engineering techniques
in healthcare is expected to drive the expansion of the market. In North
America, there is an anticipation of market leadership due to a surge in
surgical procedures requiring implants. Furthermore, the adoption of advanced
medical technologies is predicted to contribute to the growth of the market in
the region. The Asia Pacific market is expected to witness rapid expansion
during the forecast period, primarily driven by the increasing number of
accident cases in the region. The rising incidents of spinal cord injuries in
accidents are fuelling the demand for bio-implants in the Asia Pacific region.
Spinal fusion bone graft substitutes, including artificial bone grafts,
allografts, and autologous bone grafts, are used to address spinal cord
injuries. Countries in the Asia Pacific region, both developed and developing,
such as China, India, and Australia, are investing in healthcare infrastructure
development. These initiatives aim to raise awareness among citizens, reduce
accidents, and enhance treatment for severe injuries.
Major
companies operating in Global Bio-Implants Market are:
- BIOTRONIK SE & Co. KG
- Invibio Limited
- Wright Medical Group N.V.
- Edwards Lifesciences Corporation
- MiMeDX Group Inc.
- Stryker Corporation
- Endo International plc
- Smith & Nephew plc
- Zimmer Biomet Holdings Inc
- Ethicon Inc.
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“The
bio-implants market is experiencing growth primarily driven by the expanding
geriatric population worldwide, which represents the largest end-user segment
for these implants. Furthermore, advancements in technology and increasing
awareness of the successful outcomes of cosmetic implantations are contributing
positively to market growth. Additionally, the prevalence of dental issues
globally is boosting the market growth, as dental implants play a significant
role in driving the bio-implants market. Moreover, there is a constant demand
for cardiac pacemakers and orthopaedic artificial implants due to the rising
incidence of cardiovascular and orthopaedic conditions. Furthermore, the
development in the regenerative medicine sector, encompassing various
therapeutic approaches such as the utilization of bio-based materials and
biologics to target the root cause of ailments, has emerged as a new trend.
This trend has led to an increased adoption of bio-implants, which is a crucial
factor propelling market growth throughout the forecast period.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Bio-Implants
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Product Type (Cardiovascular Implants, Spinal Implants, Orthopedic
Implants, Dental Implants, Ophthalmic Implants, and Other Implants), By
Material (Biomaterial Metal & Alloys, Ceramics, Polymers, and Other
Materials), By End User (Hospitals & Clinics, Ambulatory Surgical Centres,
Others), By Region and Competition, 2019-2029F”,
has evaluated the future growth potential of Global Bio-Implants Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge 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 Bio-Implants Market.
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