The global bio-implants market was valued at US$ 73,947.4 million in 2021 and is expected to exhibit a CAGR of 5.7% over the forecast period (2021-2028).
Bio-implants are bioengineered products made up of biomaterials such as collagen and tissue engineered products, which includes artificial skin and tissue. Bio-implants are used in organ transplantation and replacement of tissues, which enhance the functionality of affected body organs. Bio-implants has wide range of application in cardiovascular, orthopedic, neurological, dental, and other therapeutic areas. Bio-implants are significant in improving longevity and quality of human life.
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Key participants for business development are Abbott, Dentsply Sirona Plc, Medtronic, Stryker Corporation, Zimmer Biomet, B.Braun, Cook Medical, C.R. Bard, Edwards Lifesciences, Wright Medical technology, and Boston Scientific Corporation.
Increasing prevalence of chronic diseases such as cardiovascular diseases (CVD) and arthritis is expected to increase the demand for bio-implants, which in turn is expected to fuel the bio-implants market growth over the forecast period. For instance, according to the World Health Organization (WHO) 2017 statistics, cardiovascular diseases accounted for around 17.9 million deaths in 2016. Moreover, according to the Centers for Disease Control and Prevention (CDC), in May 2019, around 54.4 million of U.S. adults were diagnosed with arthritis.
Manufacturers and researchers are focused on developing the advanced systems for treating medication resistant epilepsy patients using a deep brain stimulation implant similar to a cardiac pacemaker. For instance, in February 2019, Medtronic launched Deep Brain Stimulation (DBS) implant for reducing epileptic seizures. DBS provides an important surgical treatment option for patients, who suffer from epilepsy and do not respond to medication.
Moreover, key players operating in the market are focusing on strategic investment in order to develop and commercialize new products and expand its market presence. For instance, in February 2019, GT Medical Technologies raised US$ 10 million funding to help support commercialization of its GammaTile Therapy, a bioresorbable implant designed to deliver local doses of radiation to patients with brain tumors.
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Current and future of global Bioimplants market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Years Considered to Estimate the Bioimplants Market Size:
History Year: 2016-2020
Base Year: 2020
Forecast Year: 2021-2028
Important Features and Key Highlights of the Market:-
- Detailed overview of market application and advantages.
- Understand the technologies support, Solution, Services. Understand the evaluation of dynamic growth.
- The in-depth market information of competitors, revenue, and cost structure.
- Strategies of key players, the competitive landscape.
- Historical data, current trend, and market volume and value.
- Industry restrains drivers and opportunities.
- product Development and offerings Key insights.
- Potential Application covers extensive analysis of emerging trends
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Frequently Asked Questions
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