Bioimplants Market
Bioimplants or bio-implants are devices which are easily compatible with living tissues or organs within the body. The aging population and pressure to develop biocompatible implants with a long shelflife has brought evaluation of efficient and performance under question. The global bioimplants market report by Market Research Future (MRFR) covers developments of biomaterials, progress in manufacturing processes, and its scope for the period of 2018 to 2023 (forecast period).
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Bioimplants Market Scope
The global bioimplants market can register 8.6% CAGR during the forecast period. It was valued at USD 98,350 million in 2017. Primary factors fueling market growth are bone degeneration cases among the elderly, prevalence of lifestyle diseases such as diabetes, infections, and others, and minimally invasive surgeries. Rise in research and development activities and developments such as 3D printing, laser technology, and nanotechnology can support market growth. Complex geometrical shapes of bones and tailored requirements by patients designed for rehabilitation and plastic surgeries can bode well for the market.
But unfavorable reimbursement policies, high prices of implants, and lack of skilled personnel in handling surgeries can hamper the growth of the global bioimplants market.
Segmentation
The global bioimplants market is segmented by type, material, origin and end-user.
By type, the market is segmented into ophthalmic implants, cardiovascular implant, orthopedic implants, dental implants, spinal bio-implants, and others. The cardiovascular implant segment comprises pacing devices, stents, and others. Dental implants are classified into plate form dental implants and root form dental implants. While, the spinal bioimplants segment is further segmented into motion preservation implants, form dental implant, intervertebral spacers, and cervical implants. Orthopedic Implants are divided into trauma implants, joint replacement implants, orthobiologics, and knee replacement implants. Lastly, ophthalmic implants are segmented into glaucoma implants and intraocular implants.
Materials within the market encompass alloys, biomaterial metals, ceramics, and others. The biomaterial metals segment comprises silver, titanium, gold, and platinum.
By origin, the market is segmented into xenograft, autograft, allograft, and synthetic.
By end-user, the market is segmented into specialty centers, hospitals, clinics, and others.
Regional Analysis
Geographically, the global bioimplants market is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas are deemed to dominate the global market owing to prevalence of chronic disorders such as diabetes and obesity, incidence of chronic diseases, a large geriatric pool, and increasing number of surgeries. According to the Centers for Disease Control & Prevention (CDC), nearly 93 million Americans suffered from obesity. Large number of hip and knee replacement surgeries is evidence of the large potential of the market.
Europe is the second-largest region of the market due to rise in research and development activities, occurrence of orthopedic disorders, and ample funding for the healthcare sector. The large number of cardiovascular disorder cases is giving prime impetus to the regional bioimplants market growth. According to the European Heart Network, more than 85 million patients were diagnosed with some form of cardiovascular disease in Europe in 2015.
APAC can display an exemplary growth rate during the forecast period owing to rising investments in healthcare, rise of disposable income levels, and a large geriatric population. According to the United Nations ESCAP, the population of patients aged 60 and above can reach 1.3 billion by 2050. Alarming number of road accidents are likely to spur the demand for bioimplants. This is supported by a report by Tokyo’s Keio University stating the number of patients with spinal cord injuries to reach 100,000 in 2019.
The MEA can register the lowest growth of the global bioimplants market due to lack of proper healthcare infrastructure, paucity of technical knowledge, and an underdeveloped healthcare sector.
Bioimplants Market Competitive Outlook
Integra LifeSciences, Stryker, C.R.Bard, Inc., Wright Medical Group N.V., Invibio Ltd., Johnson & Johnson Services, Inc., Abbott, Boston Scientific Corporation, Smith & Nephew plc, Medtronic, Dentsply Sirona, Zimmer Biomet, and Cook Group are major players of the global bioimplants market.
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