IMARC Group, a leading market research company, has released a report titled “Bio-Implants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global bio-implants market size reached US$ 117.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 189.0 Billion by 2028, exhibiting a growth rate (CAGR) of 8.12% during 2023-2028.
Bio-implants are bioengineered products that are utilized to replace, support, enhance or regularize physiological functions. They are made from biosynthetic materials such as collagen and tissue-engineered products like artificial skin or tissues. They are divided into three categories, namely, biological implants that comprise cell therapy, bioartificial organs and tissue engineering; biologized implants which include in-vivo cell lining, technical implants and biohybrid systems; and biofunctionalized implants that include surface-functionalized implants and drug-eluting stents.
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Bio-Implants Market Trends and Drivers:
Owing to sedentary lifestyles, altering consumption patterns and inadequate nutritional intake among individuals, the prevalence of chronic conditions, such as osteoarthritis, and neuropathic, congenital and cardiovascular diseases, has increased which, in turn, is augmenting the demand for bio-implants worldwide. In addition, the geriatric population represents the biggest end user of bio-implants as elderly individuals are relatively more susceptible to coronary heart diseases, peripheral artery diseases and other age-related conditions. Apart from this, manufacturers are developing innovative prosthetics to reduce production costs and offer customized devices to patients. Further, due to the increasing beauty consciousness, along with the improving success rate of cosmetic surgeries, there has been a rise in the number of individuals seeking bio-implants for enhancing their physical appearance. Looking forward, the market to continue its moderate growth during the next five years.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type of Bio-Implants:
- Cardiovascular Implants
- Dental Implants
- Spinal Bio-implants
- Orthopaedic Implants
- Ophthalmic Implants
- Others
Breakup by Material:
- Metallic
- Ceramic
- Polymer
- Biological
Breakup by Origin:
- Allograft
- Autograft
- Xenograft
- Synthetic
Breakup by Mode of Administration:
- Non-Surgical
- Surgical
Breakup by End-User:
- Ambulatory Surgical Centers
- Clinics
- Hospital
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abbott Laboratories
- Boston Scientific Corporation
- Stryker Corporation
- St. Jude Medical Inc
- Medtronic Inc.
- Smith and Nephew
- Wright Medical Group
- Zimmer Biomet
- Dentsply Sirona
- Invibio Limited
- Straumann
- Danaher Corporation
- Cardinal Health
- Johnson Johnson
- B. Braun Melsungen
- LifeNet Health, Inc
- Endo International plc.
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