Bio-Implants Market Size, Growth, Trends, Share and Analysis

Bio-Implants Market

Market Overview:

Increasing the geriatric population, increasing incidence of chronic diseases and lifestyle disorders, and increasing preference for minimally invasive surgery are the major factors for the growth of the bio-implants market.

The market for bio-implants is driven primarily by the increasing incidence of chronic diseases and lifestyle-related disorders. Bio-implants in conditions such as obesity, infections, and musculoskeletal disorders help in better management and specific drug delivery. For example, bio-implants provide the skeletal system with a unique and specific delivery of drugs. In the case of chronic osteomyelitis and infections with deep soft tissue, beads and spacers with high concentrations of antibiotics are used for treatment as they help eliminate systemic side effects. Cardiovascular diseases account for 17.3 million deaths a year, according to the American Heart Association AHA . The Center for Disease Control and Prevention states that heart disease in the United States accounts for 610,000 deaths a year. The most common type of coronary heart disease CHD with a death toll of more than 370,000 patients per year. Over half of total deaths are caused by cardiovascular disease CVD in the European region. CVD causes 46 times the number of deaths in Europe and 11 times the burden of disease caused by combined AIDS, tuberculosis and malaria. The use of cardiac implants in related cardiac surgeries is expected to drive demand for cardiac implants due to the increasing incidence of cardiac diseases. The market studied is therefore expected to see steady growth over the forecast period, mainly due to the increasing incidences of chronic diseases and lifestyle disorders.

Report Portfolio:

A bio-implant is a prosthesis used to normalize the functions of physiology. It is made of biosynthetic materials such as collagen and products made of tissue, such as artificial skin and tissues. Some of the bioimplants also consist of polymers or biopolymers. The market is segmented by type, origin, and geography of bio-implants.

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Key Market Trends:

Cardiovascular Implants is the Segment under Type of Bio-implant is anticipated to hold Largest Market Share during the Forecast Period

The major driver of market growth is the increasing prevalence of cardiovascular diseases worldwide. In addition, there is an evident increase in geriatric population worldwide, which is expected to create more market opportunities over the forecast period. According to data published by the Pennsylvania Health Care Cost Containment Council, congenital heart defect in the United States affects nearly one in every 100 infants or about 40,000 children per year. In addition, according to American Heart Association estimates, cardiovascular diseases accounted for nearly 836,546 deaths in the United States in 2018, about one in three deaths in the country. In addition, due to the sedentary lifestyle of the population, some of the major risk factors such as smoking and high blood pressure are increasing in the United States. Most patients opt for heart surgery and different cardiovascular diseases can be treated with bioimplants. Consequently, the market is expected to witness high growth over the forecast period due to all of the above-mentioned factors.

North America is anticipated to account for Largest Market Share in the Global Market:

North America holds a significant share in the market for bio-implants and is expected to show a similar trend over the forecast period, without significant fluctuations. The main factors driving market growth are the increasing prevalence of chronic diseases and the presence of better infrastructure for health care. According to the American Chiropractic Association, about 65 million Americans suffer from lower back problems each year, and at some point in their lives, approximately 8 out of every 10 Americans are expected to suffer from back pain. Moreover, in the United States, there are an increasing number of cases of ophthalmic diseases. For example, according to the National Eye Institute, the country has recorded about 7.7 million cases of diabetic retinopathy and 24 million cases of cataracts. It is expected that this number will reach 11.3 million and 38 million by 2030. The increasing number of chronic disease cases is expected to increase the overall demand for the market for bio-implants. Thus, the market is expected to witness a high rate of growth over the forecast period due to the above-mentioned factors.

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Competent Landscape:

Due to the presence of a few key players, the market being studied is consolidated. In order to acquire maximum market share, the main market players focus on technological advancement. Some of the players on the market are aap Implantate AG, Abbott, Bausch & Lomb Inc., BIOTRONIK, Inc., Edwards Lifesciences Corporation, LifeNet Health, MiMedx, Smith & Nephew Plc, and Zimmer Biomet.

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