Bio-implant Market Rising With Growth In New Technology Trends Research By 2026


The global bio-implant market size is expected to reach USD 102.7 billion by 2026, according to a new report by Grand View Research., registering a 5.9% CAGR over the forecast period. Rising adoption of bio-implants as a primary treatment for various cardiovascular diseases (CVDs) like heart failure and Brady arrhythmias is the major factor driving the market. According to a 2017 publication by the American College of Cardiology (ACC), almost 200,000 pacemakers are implanted in the U.S. every year. This can be attributed to increasing awareness pertinent to cosmetic prostheses, coupled with technological advancements in these prostheses.
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
Bio-implants have been introduced to cater to the rapidly growing requirement for replacing as well as assisting natural tissue in the human body. For instance, in 2017, Stryker launched the Mako total knee arthroplasty at the American Academy of Orthopedic Surgeons (AAOS). The technology, coupled with the company’s implant, will provide surgeons and patients a much improved implantation experience.
By product, the dental segment is expected to grow at a lucrative rate, with increasing dental issues across the globe aiding market growth. Apart from these, orthopedic implants and cardiac pacemakers are in continuous demand due to growing prevalence of CVDs and orthopedic conditions. According to WHO in a 2017 publication, almost 90% of the people above the age of 40 years suffered from inflammatory and degenerative diseases, leading to unbearable pain and immobility. This has upped demand for spinal and other orthopedic implants.
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https://www.grandviewresearch.com/industry-analysis/bio-implants-market/request/rs1
Continuous technological innovations in the field of implantable devices is set to drive the market for bio-implants. MRI-enabled pacemakers, leadless pacemakers, and implantable loop recorders are some of the most recent advancements in cardiovascular segments by leading players. Major companies operating in this market include Medtronic; St Jude Medical (Abbott); Stryker; DePuy Synthes; Zimmer Biomet; Organogenesis, Inc.; Arthrex, Inc.; Orthofix Holdings, Inc.; Cochlear Ltd.; and Exactech, Inc.
Further key findings from the report suggest:
·         Orthopedic bio-implants emerged as the largest revenue-generating segment in the market in 2018 owing to rising application of the same in treatment of orthopedic injuries worldwide
·         Pacing devices accounted for the leading revenue share within the cardiovascular bio-implants segment in 2018 owing to increasing affordability of patients and technological advancements, such as MRI-proof pacemakers
·         Biomaterial metals accounted for the dominant share in 2018 and is expected to maintain its lead throughout the forecast period. High compatibility with the human body is the major factor propelling the segment
·         North America led the global market in 2018, mainly due to the presence of leading players in the region as well as extensive research and development activities
·         Asia Pacific is expected to grow at the highest pace during the study period owing to growing prevalence of CVDs and orthopedic disorders, which can be attributed to unhealthy dietary habits
·         Some of the major players are Medtronic; St Jude Medical (Abbott); Stryker; DePuy Synthes; Zimmer Biomet; Organogenesis, Inc.; Arthrex, Inc.; Orthofix Holdings, Inc.; Cochlear Ltd.; and Exactech, Inc.
The global bio-implant market size was estimated at USD 65.0 billion in 2018 and will exhibit a CAGR of 5.9% during the forecast period. Rising adoption of bio-implant procedures, over arthroscopy and other therapy treatments such as physiotherapy, is a major factor driving the market. This preference is attributed to associated benefits such as higher success rate and biocompatibility. Other factors propelling the market include increasing prevalence of cardiovascular diseases (CVD) and orthopedic ailments, large geriatric population base, lifestyle changes, and rising adoption of cosmetic surgeries.
The market is also driven by rising awareness about cosmetic implants and advancements in bioengineering technologies. Demand for non-surgical or minimally invasive bio-implants is growing in numerous medical disciplines. For instance, an increasing number of dental patients are choosing to opt for bio-implants as an easier and more effective alternative to a root canal procedure. Alarming increase in oral healthcare problems will further stimulate demand for bio-implants. For instance, WHO’s 2016 Global Burden of Disease Study (GBDS) estimated that oral diseases affected around half of the population worldwide. Almost 3.58 billion people were known to be affected by dental caries and various tooth problems. This will provide a wider addressable market in the near future.
Sedentary lifestyle has been the root cause of numerous chronic disorders such as CVD, congenital and neuropathic disorders, and osteoarthritis. This has propelled the demand for bio-implants across the globe. For instance, according to the National Spinal Cord Injury Statistical Center, almost 54.0% of the population in the U.S. was suffering from spinal cord injury in 2016. These incidences are expected to affect almost 60% of the U.S. population by 2020, resulting in growth opportunities for the market.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-bio-implant-market
Grand View Research has segmented the global bio-implant market on the basis of product, material, origin, end use:
Bio-implant Product Outlook (Revenue, USD Million, 2014 - 2026)
·         Cardiovascular
o    Pacing Devices
o  Pacemaker
o  ICDs
o    Stents
·         Dental
·         Orthopedic
o    Orthobiologics
o    Trauma
o    Hip Replacements
o    Knee Replacements
·         Ophthalmic
·         Spinal
·         Others
Bio-implant Material Outlook (Revenue, USD Million, 2014 - 2026)
·         Ceramics
·         Polymers
·         Alloys
·         Biomaterials
Bio-implant Origin Outlook (Revenue, USD Million, 2014 - 2026)
·         Autografts
·         Allografts
·         Xenografts
·         Synthetic
Bio-implant End Use Outlook (Revenue, USD Million, 2014 - 2026)
·         Hospitals
·         Clinics
·         Specialty Centers
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.





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