Impact Analysis of Covid-19
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Global Bioresorbable Implants Market, by Material Type (Metallic and Polymer), by Application (Orthopedic, Cardiovascular, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5,543.1 million in 2017, and is projected to exhibit a CAGR of 7.7.% during the forecast period (2018 – 2026) as highlighted in a new report published by Coherent Market Insights.
Increasing research and development by market players to augment the market growth
Key players in the market are focused on research and development of novel products to address the critical unmet needs of patients. For instance, EXCEL-II biodegradable polymer sirolimus-eluting stent developed by JW Medical Systems Ltd is under study which is estimated to complete in June 2019.
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Similarly, BuMA Supreme DES and Xience or Promus Drug Eluting Stents developed by Nova Vascular LLC is undergoing development and is estimated to complete in June 2023. Moreover, the increase in geriatric population is expected to rise incidences of osteoarthritis and osteoporosis, which in turn is expected to boost the market growth. According to National Center for Biotechnology Information’s report published in August 2017, knee osteoarthritis accounts for around 80% of the total disease burden and affects around 19% American adults in the age group of 45 and above.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in November 2016, Stryker Corporation entered a collaboration agreement with Indo UK Institute of Health’s (IUIH) Medicity Program, to serve as its business partner in the orthopedic areas of hip, knee, and trauma products and services.
Browse 25 Market Data Tables and 27 Figures spread through 169 Pages and in-depth TOC on ‘Bioresorbable Implants Market’- Global Forecast to 2026, by Material Type (Metallic and Polymer), By Application (Orthopedic, Cardiovascular, and Others), By End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the bioresorbable implants market Press Release, click the link below: https://www.coherentmarketinsights.com/press-release/bioresorbable-implants-market-to-surpass-us-107-billion-by-2026-1279
Key Takeaways of the Bioresorbable Implants Market:
- The global bioresorbable implants market is expected to exhibit a CAGR of 7.7% during the forecast period owing to the increasing prevalence of osteoporosis, osteoarthritis, and cardiovascular diseases. As per the International Osteoporosis Foundation (IOF) fact sheet, an estimated 1 in 3 women over the age group of 50 years; and 1 in 5 men aged over 50 years of age are expected to experience osteoporotic fractures worldwide.
- Among material type, the polymer segment held a dominant position in the bioresorbable implants market in 2018 compared to the metallic segment.
- Among application type, the orthopedic segment held a dominant position in the bioresorbable implants market in 2018, as majority of the implants are used in orthopedic segment due to trauma injuries.
- Among end user type, the hospital segment held a dominant position in the bioresorbable implants market in 2018, as majority of the cases of cardiovascular diseases are registered at hospitals.
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Key players operating in the global bioresorbable implants market are Bioretec Ltd., CONMED Corporation, Depuy Synthes, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew Plc., and Boston Scientific Corporation.
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