Global Bio-implants Market to Surpass US$ 115,019.8 Million by 2027 - Coherent Market Insights

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Jan 17, 2020, 10:02 ET

SEATTLE, Jan. 17, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global bio-implants market is valued at US$ 73,947.4 million in 2019, and is expected to exhibit a CAGR of 5.7% over the forecast period (2019-2027).

Key Trends and Analysis of the Global Bio-implants Market:

Key trends in market include rising number of surgical procedures such as orthopedic surgeries, increasing number of product launches, and increasing adoption of inorganic growth strategies such as collaborations and acquisitions by key market players.

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Rising number of surgical procedures and increasing adoption of advanced technologies for performing various surgical procedures are major factors expected to propel the market growth over the forecast period. For instance, according to the Organization for Economic Co-operation and Development (OECD) Health Statistics, over 1.4 million orthopedic procedures were conducted in 2017 in North America region, which includes hip and knee replacement surgeries.

Increasing product launches is expected to contribute to growth of global bio-implants market over the forecast period. For instance, in Feb 2019, Medtronic launched Deep Brain Stimulation (DBS) implant for reducing epileptic seizures. DBS provides an important surgical treatment option for patients, who suffer from epilepsy and do not respond to medication.

Furthermore, key players operating in the market are focused on adopting acquisitions and collaboration strategies, in order to expand their product offerings in market. For instance in March 2018, Orthofix International N.V. acquired Spinal Kinetics Inc., a privately held manufacturer and developer of lumbar discs and artificial cervical. As a result of this acquisition Orthofix's International N.V., strengthened its bio-implant product portfolio.

Key Market Takeaways:

The global bio-implants market is expected to exhibit a CAGR of 5.7% over the forecast period, owing to, increasing incidences of trauma injuries, prevalence of osteoporosis and osteoarthritis, and advantages of bio-implants implants compared to metallic implants. For instance, according to the International Osteoporosis Foundation (IOF) fact sheet, around 8.9 million fractures are caused annually by osteoporosis worldwide and it affects around 200 million women's globally.
North America is expected to hold a prominent share in the global market, owing to increasing prevalence of chronic diseases and presence of better healthcare infrastructure in the region. For instance, according to the National Eye Institute report published on April 2019, about 7.7 million diabetic retinopathy cases and 24 million cataract cases were recorded in the region. This number is expected to reach 11.3 million and 38 million, respectively, by 2030.

Key players operating in the global hematology market include-

Abbott, Dentsply Sirona Plc, Medtronic, Stryker Corporation, Zimmer Biomet, B.Braun, Cook Medical, C.R. Bard, Edwards Lifesciences, Wright Medical technology, and Boston Scientific Corporation.

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Market Segmentation:

Global Bio-implants Market, By Product Type:

Cardiovascular Implants
Dental Implants
Spinal Bio-implants
Orthopedic Implants
Ophthalmic Implants
Others

Global Bio-implants Market, By Material Type:

Biomaterial Metal
Ceramic
Alloys
Polymer

Global Bio-implants Market, By End User :

Hospitals and Clinics
Ambulatory Surgical Centers
Others

Global Bio-implants Market, By Region:

North America

U.S.
Canada

Latin America

Brazil
Mexico
Argentina
Rest of Latin America

Europe

Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific

China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific

Middle East

GCC
Israel
Rest of Middle East

Africa

South Africa
Central Africa
North Africa

Company Profiles

Get details about similar topics:

Radial Head Resection Implants Market

According to National Center for Biotechnology Information, radial head fractures are common worldwide with around 2.5 to 2.8 per 10,000 of incidence per year. Also, due to the patient benefits in terms of no deformity and regaining normal functionality after a relatively short period following the surgery, the radial head resection therapy is gaining wide acceptance across the globe.

Middle Ear Implants Market

Middle ear implants are broadly classified as piezoelectric and electromagnetic. Piezoelectric products uses piezoelectric crystal, applied electric charge cause crystals to bend and the bend crystal generates electric charge that causes inner ear bones to vibrate.

Facial Implants Market

The approach of facial implant basically refers to a type of surgical intervention where specially designed medical devices are placed inside the body to replace the damaged part and regain their appearance. Furthermore, medical devices for facial implants are designed by solid materials that are compatible with human tissues that further gives the damaged part a better and comprehensive look.

Knee Implants Market

Total knee replacement involves the replacement of the surface of the thigh bone and the shin connected to the knee. Partial knee replacement or uni-compartmental knee replacement, can be performed through a small cut were one side of the knee is affected. Various types of fixation are used in knee implantation to connect knee implants to the bone, these include hybrid fixation, cementless fixation and cemented fixation.

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