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.
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.
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.
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Bio-implant
Market Report Highlights
- 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.
About Us:
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, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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