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Bio-implant Market Emerging Trends, Business Opportunities, Highest Revenue, Booming Growth Opportunities -2030: Abbott., Dentsply Sirona Plc., Medtronic

12-01-2023 02:03 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Bio-implant Market Emerging Trends, Business Opportunities,

According to Coherent Market Insights, global bio-implant market is estimated to be valued at US$ 91.14 Billion in 2023, exhibiting a CAGR of 6.0% during the forecast period (2023-2030). Bio-implants are medical devices that are placed inside the human body to replace missing biological structures or to enhance body functions. They include orthopedic implants, dental implants, neural implants, cardiac implants, and others.

Market Dynamics:

The growing awareness regarding the benefits of bio-implant surgeries such as quicker recovery, minimal invasion and high success rates are driving the growth of the bio-implant market. Additionally, the rising number of accidents and trauma cases have increased the demand for orthopedic bio-implants such as knee and hip replacements worldwide. Furthermore, the rapidly aging population also contributes to the increasing demand as elderly people are more prone to bone disorders that require bio-implants. The increasing healthcare expenditure in developing countries also provides growth opportunities in the market.

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Market Driver:

The rising incidence rate of various chronic diseases such as cardiovascular diseases, diabetes, osteoporosis etc. due to sedentary lifestyles and unhealthy diets is projected to be a major driver for the growth of the global bio-implant market during the forecast period. According to WHO, chronic diseases accounted for around 60% of total reported deaths in the world in 2001. Furthermore, chronic diseases are expected to contribute substantially to the global burden of disease and disability by 2020. Growing geriatric population also suffer from chronic diseases more as compared to younger population which further fuels the demand for bio-implants. To treat chronic diseases, bio-implants such as cardiac stents, pacemakers, orthopedic implants etc. are widely used which will propel the growth of this market.

Market Restraint:

The bio-implant industry has to adhere with strict regulatory norms and quality standards set by organizations like FDA, European Commission and other national regulatory bodies. Getting requisite marketing approval and certifications for new bio-implant products involve rigorous clinical testing and documentation which is a complex, costly and time-consuming process. Many new products get delayed or fail to get necessary clearances during this procedure impacting the commercial prospects and market expansion plans of companies. Particularly for class III devices like hip and knee replacements, vendors have to demonstrate clear proof of their efficacy, biocompatibility and safety through exhaustive pre-clinical and clinical trials before being allowed to be sold in the market. Stringency of regulations inhibits fast product development cycles and quick commercialization which act as a minor restrain for the bio-implant industry.

Competitive Landscape

In the segment specifically devoted to leading companies in the Bio-implant Market of the market analysis document, our researchers provide a summary of the financial statements of all the major companies, covering their noteworthy developments, product benchmarking, and SWOT analysis. The corporate profile copy also includes financial information and a business summary. The businesses in this area can be customized to match the unique needs of the client.

Some of the Top Players in Bio-implant Market:

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.

Detailed Segmentation:

Global Bio-implant Market, By Product Type:
Cardiovascular Implants
Dental Implants
Spinal Bio-implants
Orthopedic Implants
Ophthalmic Implants
Others

Global Bio-implant Market, By Material Type:
Biomaterial Metal
Ceramic
Alloys
Polymer

Global Bio-implant Market, By End User:
Hospitals and Clinics
Ambulatory Surgical Centers
Others

Regional Analysis -

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
Latin America (Colombia, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Market Opportunity:

Development of innovative biodegradable implants using advanced biomaterials that can dissolve or degrade inside human body after fulfilling their intended function provides new growth opportunities for key stakeholders in this market. Traditional metal and polymer implants need to be surgically removed once their usage is over and decompose inside landfills polluting the environment. However, bio-resorbable implants made from polymers like polylactic acid (PLA) and polyglycolic acid (PGA) or metallic alloys gradually disintegrate in the body over time and get absorbed just like natural tissues without requiring implant removal surgery. This emerging class of environment-friendly implants finds applications in domains like orthopedic fixation devices, drug delivery systems and cardiac stents. Availability of such biodegradable implants will revolutionize the medical implant industry by ushering in new product categories.

Market Trend:

3D printing or additive manufacturing is transforming medical device manufacturing at a rapid pace. It enables mass-customization of implants and prosthesis based on individual patient's anatomy derived from medical scans data. Using 3D printing technologies, complex implant designs with intricately designed porous surfaces and engineered cellular architecture can be precisely built layer by layer as per the defective anatomical site's requirements. This patient-specific approach ensures superior anatomical fit and a seamless biointegration. Considering these advantages, 3D printed orthopedic, spinal and cranial implants segment will exhibit fastest growth trends over coming years. Major players are approving 3D printed hip, knee replacement and dental implants clinically.

Reasons to Purchase this Report:

✔ Regional report analysis highlighting the consumption of products/services in a region also shows the factors that influence the market in each region.
✔ Reports provide opportunities and threats faced by suppliers in the Bio-implant industry around the world.
✔ The report shows regions and sectors with the fastest growth potential.
✔A competitive environment that includes market rankings of major companies, along with new product launches, partnerships, business expansions, and acquisitions.
✔ The report provides an extensive corporate profile consisting of company overviews, company insights, product benchmarks, and SWOT analysis for key market participants.
✔ This report provides the industry's current and future market outlook on the recent development, growth opportunities, drivers, challenges, and two regional constraints emerging in advanced regions.

Request for Customization @ https://www.coherentmarketinsights.com/insight/request-customization/3050

Questions Answered by the Report:

(1) Which are the dominant players of the Bio-implant Market?
(2) What will be the size of the Bio-implant Market in the coming years?
(3) Which segment will lead the Bio-implant Market?
(4) How will the market development trends change in the next five years?
(5) What is the nature of the competitive landscape of the Bio-implant Market?
(6) What are the go-to strategies adopted in the Bio-implant Market?

📌Contact Us:
Mr. Shah
Coherent Market Insights Pvt. Ltd,
📞Phone: U.S.: +1-206-701-6702
📞U.K.: +44-020-8133-4027
📞JAPAN: +81-50-5539-1737
📞INDIA: +91-848-285-0837
✉ Email: sales@coherentmarketinsights.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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