Summary
Major players in the bio-implants market are Medtronic PLC., Stryker Corporation, Zimmer Biomet Holdings Inc., Dentsply Sirona PLC., Johnson & Johnson, Arthrex Inc., Boston Scientific Corporation, Smith & Nephew PLC., B Braun, Victrex PLC., Straumann Group, Danaher Corporation, Cardinal Health Inc., Organogenesis Holdings Inc., Exactech Inc., and Osprey Medical Inc.
The global bio implants market is expected to grow from $105.64 billion in 2022 to $117.60 billion in 2023 at a compound annual growth rate (CAGR) of 11.32%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bio implants market is expected to reach $167.52 billion in 2027 at a CAGR of 9.25%.
The bio impants market consists of sales stents, pacing devices, orthobiologics, trauma implants, sport medicines, thoracolumber implants, interverteberal spacers, machined allograft spacers, and motion preservation implants.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bio implants are prosthesis or artificial medical devices that replace missing tissues and supports a damaged biological structure to improve biological functions of the body and are made up of material obtained of human or animal origin or biosynthetic materials. The bio-implants are used to assist and regularize human physiological functions.
North America was the largest region in the bio-implants market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of bio-implants are cardiovascular implants, dental implants, spinal bio-implants, orthopaedic implants, ophthalmic implants, and other types.The cardiovascular implants are used in heart valves and coronary stents for the treatment of cardiac complications.
Cardiovascular implants are designed to stay in a patient’s body to maintain healthy blood arteries and a beating heart.The bio-implants are made of various materials including metallic, ceramic, polymer, and biological.
The bio-implants have different origins such as allograft, autograft, xenograft, and synthetic. The bio-implants are used by ambulatory surgical centers, clinics, hospital, and other end-users.
The increasing prevalence of chronic conditions is expected to drive the bio-implant market going forward.Chronic conditions such as cardiovascular diseases and arthritis refer to medical conditions that persist for a year or longer, require continuous medical care, and restrict everyday activities.
The bio-implants are used in managing and monitoring chronic conditions by reducing the mortality rate caused by chronic diseases.For instance, according to data published in April 2021 by the World Health Organization, a Switzerland-based health organization for international public health, 41 million people die every year due to chronic diseases globally, close to 71% of all deaths.
Therefore, the increasing prevalence of chronic conditions is fueling the growth of the bio-implant market.
Technical developments are the key trends gaining popularity in the bio-implant market. Major players are concentrating on developing innovative biomaterial technology, such as 3D printing for bio-implant systems. 3D-printing technology of biomaterials is a type of additive manufacturing that produces 3D structures that function as 3D tissues using cells and biomaterials rather than conventional metals and polymers. For instance, in March 2022, Evonik Industries AG, a Germany-based speciality chemicals company, launched osteoconductive VESTAKEEP iC4800 3DF PEEK filament based on 3D-printing technology for 3D printed implants. It offers enhanced osteointegration between the bone and implant for quicker bone healing, and impressive biocompatibility, biostability, and enhanced osteoconductive qualities characterize the high-performance polymer.
In August 2022, CONMED Corporation, a US-based medical technology company, acquired Biorez Inc. for an undisclosed amount. The acquisition will help CONMED to grow its sports medicine portfolio with the addition of Biorez. Biorez Inc. is a US-based medical device start-up.
The countries covered in the bio-implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bio-implants market research report is one of a series of new reports that provides bio-implants market statistics, including bio-implants industry global market size, regional shares, competitors with a bio-implants market share, detailed bio-implants market segments, market trends and opportunities, and any further data you may need to thrive in the bio-implants industry. This bio-implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
