Bioresorbable Implants Market Generated Opportunities, Future Scope 2021-2028 | Bioretec Ltd., CONMED Corporation, Depuy Synthes, Stryker Corporation

Market participants should invest more in research and development to help the market flourish. The market's major players are concentrating their efforts on research and development in order to provide novel solutions that answer patients' crucial unmet requirements. For example, EXCEL-II biodegradable polymer sirolimus-eluting stent developed by JW Medical Systems Ltd is under study and estimated to complete study in June 2019. Similarly, BuMA Supreme DES and Xience or Promus Drug Eluting Stents developed by Nova Vascular LLC is under study and estimated to complete study in June 2023. Furthermore, as the older population grows, the prevalence of osteoarthritis and osteoporosis are predicted to climb, boosting market growth. According to a report published in August 2017 by the National Center for Biotechnology Information (NCBI), estimated knee osteoarthritis causes roughly 80% of the disease's total burden and affects roughly 19% of persons in the United States over the age of 45.

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Key players in the market are focusing on adopting strategies such as mergers and partnership to enhance their product portfolio. For example, in November 2016, Stryker Corporation entered into 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.

Key Takeaways of the Bioresorbable Implants Market:

Due to the rising prevalence of osteoporosis, osteoarthritis, and cardiovascular illnesses, the global bioresorbable implants market is estimated to grow at a CAGR of 7.7% over the forecast period. According to the International Osteoporosis Foundation (IOF) data sheet, 1 in 3 women over 50 and 1 in 5 men over 50 are projected to suffer from osteoporotic fractures over the world.

In terms of material type, the polymer segment dominated the bioresorbable implants market in 2018, owing to its advantages over metallic implants.

In 2018, the orthopaedic sector dominated the bioresorbable implants market by application type, since the bulk of the implants are employed in orthopaedics due to trauma injuries.

In 2018, the hospital segment dominated the bioresorbable implants market, as hospitals account for the bulk of instances of cardiovascular illnesses and other conditions.

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Bioresorbable Implants Market – Competitive Landscape

Key players functioning in the global prosthetic liners market consists of Bioretec Ltd., CONMED Corporation, Depuy Synthes, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew Plc., and Boston Scientific Corporation.

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