San Francisco, October 10, 2019: Latest study by Grand View Research, Inc. titled "Bio-implant Market Size, Share & Trends Analysis Report By Product (Cardiovascular, Dental, Spinal), By Material (Ceramics, Polymers, Biomaterial Metal, Alloys), By Origin, By End Use, And Segment Forecasts, 2019 - 2026", global bio-implant market size is expected to reach USD 102.7 billion by 2026,is 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.
Some key findings from the report:
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.
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 in?ammatory and degenerative diseases, leading to unbearable pain and immobility. This has upped demand for spinal and other orthopedic implants.
The final report on global bio-implant market on the basis of product, material, origin, end use, and region:
Bio-implant Product Outlook (Revenue, USD Million, 2014 - 2026)
Bio-implant Material Outlook (Revenue, USD Million, 2014 - 2026)
Bio-implant Origin Outlook (Revenue, USD Million, 2014 - 2026)
Bio-implant End Use Outlook (Revenue, USD Million, 2014 - 2026)
Bio-implant Regional Outlook (Revenue, USD Million, 2014 - 2026)
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.
Browse more market research report from Medical Devices Category
For your custom research requirements please visit Grand View Research
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519