Overview and Scope
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.
Sizing and Forecast
The bio-implants market size has grown rapidly in recent years. It will grow from $116.28 billion in 2023 to $128.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to aging population and chronic diseases, rise in surgical procedures, increased life expectancy, regulatory support and standards..
The bio-implants market size is expected to see rapid growth in the next few years. It will grow to $191.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to customization and personalization, growth in minimally invasive procedures, shift towards regenerative medicine, remote monitoring and telemedicine, supportive regulatory environment.. Major trends in the forecast period include customized and personalized implants, biodegradable and bioresorbable implants, advancements in biomaterials, regenerative medicine and tissue engineering, smart implants and wearable technologies..
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Segmentation & Regional Insights
The bio-implants market covered in this report is segmented –
1) By Type: Cardiovascular Implants, Dental Implants, Spinal Bio-Implants, Orthopaedic Implants, Ophthalmic Implants, Other Types
2) By Material: Metallic, Ceramic, Polymer, Biological
3) By Origin: Allograft, Autograft, Xenograft, Synthetic
4) By End-User: Ambulatory Surgical Centers, Clinics, Hospital, Other End-Users
North America was the largest region in the bio-implants market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the bio-implants market report are Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Dentsply Sirona Inc., Johnson & Johnson, Arthrex Inc., Boston Scientific Corporation, Smith & Nephew plc, B. Braun Melsungen AG, Victrex plc, Straumann Holding AG, Danaher Corporation, Cardinal Health Inc., Organogenesis Holdings Inc., Exactech Inc., Osprey Medical Inc., Edwards Lifesciences Corporation, Biotronik SE & Co. KG, aap Implantate AG, Abbott Laboratories, Biotronik Inc., Cook Medical LLC, Globus Medical Inc., Integra LifeSciences Holdings Corporation, LivaNova PLC, MicroPort Scientific Corporation, NuVasive Inc., Orthofix Medical Inc., RTI Surgical Holdings Inc., Terumo Corporation
The bio-implants market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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