Bioimplants Market Size to Grow at a CAGR of 8.6% till 2023 | with Abbott, Boston Scientific Corporation, Dentsply Sirona, Johnson & Johnson Services, Invibio Ltd., Integra LifeSciences, Medtronic, Smith & Nephew plc, etc

According to Market Research Future, the Global Bioimplants Market to provide readers with a clear view of the market’s likely growth trajectory over the coming years. The report utilizes historical trends of the Global Bioimplants Market and present statistics to derive.

Bioimplants Market - Overview

Global Bioimplants Market accounted for USD 98,350 million in 2017 and expected to register 8.6% CAGR and during the forecast period of 2018 to 2023. Bioimplants are useful for supporting, enhancing, and replacing the damaged biological structure. Bioimplants are bioengineered tissues which are compatible with human cells and helps to restore the physiological functions.

The factors propelling the growth of the global bioimplants market are the growing geriatric population, increasing number of chronic disorders, increasing demand for minimally invasive surgeries, technological advancements in healthcare sector, and rising occurrences of lifestyle disorders.

However, the high costs associated with bioimplants, rising cost of bioimplant surgeries, unfavorable reimbursement policies and dearth of technicians may hamper market growth during the assessment period.

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Top Players:

Some of the key players in the global bioimplants market are Zimmer Biomet,Abbott,Boston Scientific Corporation,Dentsply Sirona,Invibio Ltd.,Integra LifeSciences,Johnson & Johnson Services, Inc.,Medtronic,Smith & Nephew plc,Stryker,Wright Medical Group N.V.,Cook Group, and C.R.Bard, Inc.

The global bioimplants market is currently dominated by several players. The market players are engaged in strategic collaborations and acquisitions to expand their product portfolios. For instance, in September 2018, DePuy Synthes(subsidiary of Johnson & Johnson Services, Inc.)  Announced acquisition of Emerging Implant Technologies (EIT) and with acquisition the company has gained access to 3D printed cellular titanium technology of EIT.

Segments:

The global bioimplants market has been segmented on the basis of type, material, origin and end-user.

In the Americas, the North American market is likely to hold the majority share of the bioimplants market owing to the increasing prevalence of chronic diseases, rising cases of spinal cord injuries, increase in number of surgical procedures, rising lifestyle disorders and technological advancement in the region.

According to the article published by National Spinal Cord Injury Statistics Database in 2016, prevalence of spinal cord injury is increasing and approximately 54 cases per million was the ratio in US in 2016, which indicates 17,000 new cases per year in the country.

The US is expected to account for the largest share of the North American market during the forecast period owing to the presence of major market players such as Abbott, Boston Scientific Corporation , Integra LifeSciences and Johnson & Johnson Services, Inc.

Regional Analysis:

The market in the Americas is expected to dominate the global bioimplants market during the forecast period owing to the growing geriatric population, increasing prevalence of chronic diseases, technological advancements in healthcare and rising occurrences of injuries related to spinal cord. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, increasing cardiovascular and orthopedic disorders in the region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the rising geriatric population, increasing prevalence of chronic disorders, and rising investment in healthcare sector by market players. The market in the Middle East & Africa is likely to account for the smallest share of the global bioimplants market.

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