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Bio-Implants Market to Garner Brimming Revenues by 2021
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Bio-implants are mainly classified into biological implants, biologised implants, and biofunctionalized implants. Biological implants include cell therapy, bioartificial organs, and tissue engineering. Biologised implants comprise technical implants, biohybrid systems and in-vivo cell lining. Biofunctionalized implants include drug eluting stents and surface functionalized implants.
The global bio-implants market is categorized on the basis of type, origin, materials, and end users. Based on type, this market is segmented into cardiovascular implants, spinal implants, orthopedics and trauma, dental implants, ophthalmic implants, neurostimulators implants, and other implants. Cardiovascular implants include pacing devices, stents and related implants, and structural cardiac implants. Orthopedics and trauma implants comprise reconstructive joint replacements, orthobiologics, trauma implants, and sports medicine. Dental implants include plate form dental implants and root form dental implants. Ophthalmic implants comprise intraocular lens and glaucoma implants. Neurostimulator implants are further categorized as deep brain stimulators, sacral nerve stimulators, spinal cord stimulators, vagus nerve stimulators, and other neurostimulation. Other implants include gynecological devices, drug implants, otolaryngeal implants, cosmetic implants, gastroenterological implants, urological implants, and skin and wound care implants. Based on origin, the market is further sub-segmented into allograft, autograft, xenograft, and synthetic origins. Based on materials, the market covers ceramics, biomaterial metals, alloys, polymers, and biological materials. Based on end user, this market is segmented into medical device manufacturing companies, pharmaceutical companies, research institutes, and academic institutes.
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North America has the largest market for bio-implants, followed by Europe. This is due to growing aging population, technological advancement, rise in awareness about cosmetic implants, rising demand for nonsurgical bio-implants, increasing prevalence of chronic diseases, increasing health care expenditure, rise in patient population, and improved healthcare infrastructure in the region. The bio-implants market in Asia is expected to experience a high growth rate in the next few years due to developing healthcare infrastructures, increasing prevalence of chronic diseases, rising disposable income, and growing aging population in the region. In addition, increasing population and growth in economies in developing countries, such as India and China, is expected to drive the bio-implants market in Asia. These factors, along with broadening application areas of bio-implants, are expected to drive the global market for bio-implants. However, high cost of implants and reimbursement issues are some of the factors that inhibit the growth of the market.
Increasing number of mergers and acquisitions, rising number of collaborations and partnerships, new product launches, and increasing research and development activities are some of the latest trends that have been observed in the global bio-implants market.
The major companies operating in this market worldwide are Synthes, Inc., Abbott Laboratories, Biomet, Inc., Boston Scientific Corporation, C.R. Bard, Inc., Endo Health Solutions, Inc., LifeNet Health, Inc., Orthofix International N.V., Stryker Corporation, W.L. Gore & Associates, Inc., Smith & Nephew Plc, and Biotronik SE & Co. KG.
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