ID: MRFR/MED/5431-HCR | February 2021 | Region: Global | 85 pages
The Bioimplants Market is valued at USD 98,350 Million in 2017 and expected to register 8.6% CAGR during the forecast period (2018–2023). Bioimplants are bioengineered products used to restore physiological functions of damaged biostructure by restoring it. The procedure is done by replacing, supporting, or enhancing the missing, damaged, or existing biological structure. The rising cases of bone degeneration cases in geriatric population, increasing demand for minimally invasive surgeries, increasing prevalence of lifestyle diseases such as obesity, diabetes, and infections and technological advancement in healthcare sector are expected to drive the growth of the market. Also, the rising research and development activities and aggressive strategies implemented by major players are propelling the growth of bioimplants Market. For instance, in March 2018, Dentsply Sirona announced collaboration with North American Dental Group (NADG) and with this collaboration NADG has approved Dentsply Sirona as a preferred manufacturing partner.
The rising cost of bioimplant surgeries, high price of bioimplants, unfavorable reimbursement policies and lack of skilled personnel for the effective use of bioimplant products may hamper the growth of the market during the assessment period.
Bioimplants Market Segmentation:
The Bioimplants Market has been segmented on the basis of type, material, origin and end-user.On the basis of type, the market has been classified as cardiovascular implant, dental implants, spinal bio-implants, orthopedic implants, ophthalmic implants and others. The cardiovascular implant segment has been further divided into stents, pacing devices and others. Dental implants are classified into plate form dental implant and root form dental implants. The spinal bioimplants segment has been further divided into form dental implant, intervertebral spacers, cervical implants, and motion preservation implants. Orthopedic Implants are divided into orthobiologics, trauma implants, joint replacement implants, and knee replacement implants. The ophthalmic implants segmented has been classified into glaucoma implants, and intraocular implants.
The material segment is divided into biomaterial metals, ceramics, alloys, and others. The biomaterial metals segment has been divided into titanium, gold, silver and platinum. Based on origin, the bioimplants market has been segmented into autograft, allograft, xenograft, and synthetic. The market, by end-user, has been segmented into hospitals, clinics, specialty centers, and others. The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The bioimplants market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European Bioimplants Market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.The Market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.
Bioimplants Market Key Players:
Some of the key players in the global bioimplants market are Abbott, Boston Scientific Corporation, Dentsply Sirona, Johnson & Johnson Services, Inc., Invibio Ltd., Integra LifeSciences, Medtronic, Smith & Nephew plc, Stryker, Wright Medical Group N.V., Zimmer Biomet, Cook Group, and C.R.Bard, Inc.
Company Profiles:
Regional Market Summary
Global Bioimplants Market Share, by Region , 2017 (%)
Source: MRFR Analysis
The Americas are expected to dominate the global bioimplants market owing to the rising prevalence of chronic diseases in the aging population, rising prevalence of lifestyle disorders such as obesity and diabetes, increase in the number of surgical procedures, and adoption of highly advanced technology. According to the Centers for Disease Control and Prevention, in 2016, approximately 93 million Americans were suffering from obesity and it is close to 40% of the total population. Increasing obesity is a result of changing lifestyle and rising consumption of junk food.
The European bioimplants market is expected to be the second-largest market. The market growth in this region can be attributed to government funding and support of the healthcare, rising occurrence of orthopedic disorders and increasing research and development activities in the healthcare sector. Moreover, increasing number of cardiovascular surgeries due to rise in number of cardiovascular disorders in the region is propelling the growth of the market. According to the European Heart Network, in 2015, more than 85 million patients were suffering from Cardiovascular diseases in Europe and it caused more than 1.8 million deaths in European union.
Asia-Pacific is expected to be the fastest-growing bioimplants market during the forecast period owing to the increasing geriatric population, increasing disposable income, rising investments in healthcare and expansions by market players in the region, and rising cases of spinal cord injury due to increasing road accidents. According to the United Nations ESCAP, social development division, more than 12.4% of total Asian population in 2016 was above 60 years and expected to reach 1.3 billion by the end of 2050.
The market in the Middle East & Africa is expected to account for the smallest share of the global bioimplants market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
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Intended Audience:
Report Attribute/Metric | Details |
---|---|
Market Size | USD 98,350 Million |
CAGR | 8.6% (2018–2023) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Type, Material, Origin, End-User |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Abbott Boston Scientific Corporation, Dentsply Sirona, Johnson & Johnson Services, Inc., Invibio Ltd, Integra LifeSciences, Medtronic, Smith & Nephew plc, Stryker, Wright Medical Group N.V., Zimmer Biomet, Cook Group, R. Bard, Inc. |
Key Market Opportunities | Joint ventures, strategic alliances, mergers and acquisitions and new product developments |
Key Market Drivers |
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