Bio-implants Market Likely to Enjoy Explosive Growth by 2027 | Abbott, Medtronic, Stryker Corporation

Over the forecast period, the global bio-implants market is expected to expand due to an increase in product releases and regulatory approvals. Impulse Dynamics' first-in-class Optimizer Smart System heart implant was approved by the US Food and Drug Administration in March 2019. Patients with recurrent heart disease who are unable to use a pacemaker or normal cardiac resynchronization treatment will benefit from the heart implant.

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Furthermore, Boston Scientific's next-generation Watchman FLX anti-stroke implant obtained CE mark clearance from the European Union in March 2019. The WATCHMAN implant is the most extensively researched left atrial appendage closure unit, and it is used to minimize the risk of stroke in tens of thousands of high-risk patients with non-valvular atrial fibrillation who don't want to take anticoagulants long-term.

Browse 32 Market Data Tables and 20 Figures spread through 178 Pages and in-depth TOC on “Bio-implants Market”- Global Forecast to 2027, by Material Type (Polymer, Biomaterial Metal, Ceramic, and Alloys), by Product Type (Ophthalmic Implants, Cardiovascular Implants, Orthopedic Implants, Dental Implants, and Spinal Bio-implants), by End User (Ambulatory Surgical Centers, Clinics and Hospitals, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Moreover, leading players operating in the market are focused on pursuing inorganic growth strategies such as acquisitions and partnerships in order to extend their product offerings and invest in their regional footprint. Emerging Implant Technologies (EIT), a German-based spinal implant 3D printing specialist, was acquired by Johnson & Johnson Medical GmbH in September 2018. Following this purchase, DePuy Synthes, a division of Johnson & Johnson, expanded the bio-implant line, which also includes titanium optimized PEEK technologies for minimally invasive spinal surgery.

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Due to the geriatric population, technical advances in bio-implants, rising awareness about cosmetic implants, and the prevalence of chronic diseases, the global bio-implants market is projected to grow at a CAGR of 6.8 percent during the forecast period.

The cardiovascular implants division is predicted to dominate the bio-implants industry across product types. As per the Pennsylvania Health Care Cost Containment Council, congenital heart defects impact about one out of every 100 babies in the U.S. or approximately 40,000 children each year.

Moreover, as per the American Heart Association, cardiovascular diseases caused nearly 836,546 deaths in the U.S. in 2018, accounting for roughly one out of every three deaths in the world.

In 2019, the biomaterial metal segment is projected to lead the market in terms of material form. Titanium has been researched and shown to have a high success rate in both medical and dental procedures. Its versatility distinguishes it from zirconia. Titanium has long been the metal of choice for all types of bone and plate implants.

Key companies contributing in the global bio-implants market are Cook Medical, B.Braun, Dentsply Sirona Plc, Abbott, Boston Scientific Corporation, Stryker Corporation, Medtronic, Zimmer Biomet, Wright Medical technology, Edwards Lifesciences, and C.R. Bard.

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