Polymer Implantables Market Segments, Opportunity, Growth and Forecast By End-use Industry -2025
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Polymers are used in the development of orthopedic implants such as spine implants, spinal spacers and discs, joint replacement implants, tendons, and ligaments. Increasing geriatric population is estimated to drive the demand for polymer-based orthopedic implants. It is estimated that more than 50% of orthopedic implants are used in patients aged 65 years and above. Moreover, with increasing demand for esthetics, the consumption of esthetic implants such as silicone-based breast implants and maxillofacial implants is projected to grow. Polymers are also used in cardiovascular implants such as drug eluting stents and artificial heart valves. According to an independent study conducted in the U.S., about 75% of coronary stents deployed in the U.S. was polymer-based drug eluting stents. Increase in the prevalence of cardiovascular diseases is expected to drive the growth of the polymer implantables market during the forecast period. However, there have been few adverse events in the recent years regarding the esthetic implants made with silicone, which has hampered the market growth. Additionally, inappropriate selection of materials, low-quality raw materials, and high cost of implants are the concerned areas of the polymer implantables market, which are estimated to restrain the market growth during the forecast period.
The global polymer implantables market is segmented on the basis of product, material, end-user, and region. In terms of product, the market can be segmented into orthopedic implants, cardiovascular implants, esthetic implants, dental implants, and others. The orthopedic implants segment can be classified into joint replacement implants and spinal implants. The others segment includes soft tissue repair products, hernia meshes, and surgical sutures. Growing incidence of cardiovascular diseases is estimated to drive the growth of the cardiovascular implants segment. On the basis of material, the market is segmented into polyethylene, silicone, polyurethane, polyketone, fluoropolymer, and others. The others segment includes bio absorbable polymers such as polylactic acid (PLA), polyglycolic acid (PGA), and polycaprolactone (PCL). Polyketone, such as PEEK, and polyethylene, such as ultra-high molecular weight polyethylene (UHMWPE) and high density polyethylene (HDPE), are widely used in the development of orthopedic implants. These two segments are projected to expand at a high growth rate during the forecast period. On the basis of end-user, the market is segmented into hospitals, ambulatory surgical centers (ASC), and others. Increasing base of ASCs and rising preference for minimally invasive procedures are estimated to drive the segment growth during the forecast period.
In terms of region, the global market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to hold a significant share of the global market due to high adoption of technology and increased health care expenditure. Europe is estimated to hold a prominent share of the global market and is anticipated to expand at a prominent growth rate, due to increasing geriatric population and developing healthcare infrastructure.
Major players operating in the global polymer implantables market include Boston Scientific Corporation, Smith & Nephew plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., Edwards Lifesciences Corporation, Abbott Laboratories, Terumo Corporation, Medtronic plc, Johnson & Johnson, and Straumann Holding AG.
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