Bio-Implants Market accounted 93903.6 USD Million in 2020 and is expected to reach 176269.9 USD million by 2030, witnessing an approximate CAGR of 6.50% over the forecast period.  An implant is a medical device that substitutes, enhances, or supports a damaged or missing biological structure. Bio-implants are bioengineered products made up of human and animal origin and have been widely used in numerous medical fields leading to distinctly high surgical outcomes. It is a man-made device made up of biological cells which are compatible with the human body. The device is then inserted into the human body cavity. Bio-implants are broadly used in organ transplantations and tissue replacements. Bio-implants have certain advantage over other implants like rapid healing and minimum time consumption during treatment. The various other uses of bio-implants are treatment of skin burns and chemical damages or cornea sores in the eye, in case of eye implants.

Market Segmentation:

On the basis of product type, the market can be classified into cardiovascular implants, orthopaedics implants, spinal implants, dental implants, ophthalmic implants, and others. The cardiovascular implants can be further classified into pacemakers, ICDs, and stents. The orthopaedics implants are further classified into orthobiologics, trauma implants, hip replacements, and knee replacements. Based on material type, the market can be segmented into ceramics, polymers, alloys, and biomaterials. According to origin, the bio-implants market is categorised into autograft, allograft, xenograft, and synthetic. By mode of administration, the bio-implants market can be bifurcated into surgical & non-surgical. Based on end-users, the market can be segregated into hospitals, clinics, speciality centres, and others. Geographically, the global bio-implants market can be broadly divided into five regions mainly North America, Europe, Asia Pacific, and ROW.

Market Dynamics and Factors:

The rising geriatric population leading to higher occurrence of chronic disorders, rapidly growing healthcare infrastructure, and rising disposable income of people are the major factors attributing to the growth of the bio-implants market across the globe. The market is also driven by increasing awareness regarding cosmetic implants and developments in bioengineering technologies. The demand for non-surgical bio-implants is growing at a rapid pace in various medical disciplines. For instance, an increasing number of dental patients are opting for bio-implants as an easier and more effective substitute to the root canal treatment. Surge in oral healthcare problems is further going to augment the demand for bio-implants. For instance, the World Health Organisation’s 2016 Global Burden of Disease Study predicted that almost 3.58 billion people worldwide were affected by various dental and tooth problems. This will provide a huge opportunity for the dental bio-implants market to grow in the coming future. Inactive lifestyles, hypertension and stress factors have resulted in numerous chronic disorders like osteoarthritis, congenital & neuropathic disorders. This has further fuelled the demand for bio-implants across the globe. For instance, according to the National Spinal Cord Injury Statistical Centre, almost 54% of the U.S. population was suffering from spinal cord injury in 2016. These incidences are anticipated to affect almost 60% of the U.S. population by 2020, attributing to growth opportunities for the bio-implants market. Other major factors driving the market are less treatment time compared to other implants; natural fitting into the human body; and the non-requirement of incisions while treating the patients. However, reimbursement issues and the high costs involved may hamper the market growth. Additionally, a large number of laws regulating the bio-implant procedure and a prolonged approval process may hinder the growth for the bio-implants market.

Geographic Analysis:

North America is expected to dominate the global bio-implants market in terms of market share during the forecast period. The increasing rate of chronic diseases, advanced healthcare facilities, and the presence of key market players are the major factors attributing to the market dominance of the region. For instance, according to the American Chiropractic Association, 2017, around 65 million Americans were suffering from lower back problems every year, and approximately 8 out of every 10 Americans are expected to suffer from back pain at some point of their life. Europe is the second most dominating market for bio-implants owing to the technological developments in healthcare and significantly high geriatric population in the region. The Asia Pacific region is anticipated to witness significant growth during the forecast period. The growth is attributed to factors such as increased government funding, influx of foreign investments, and considerable spending in healthcare sector. Additionally, the increasing number of diagnostic centres that have advanced diagnostic imaging technologies and improved accessibility to better healthcare services in emerging nations are estimated to augment the demand in the APAC region.

Competitive Scenario:

The key players operating in the global bio-implants market are –

St Jude Medical, Stryker Corporation, Boston Scientific Corporation, Smith & Nephew, Medtronic, Organogenesis, Nobel Biocare Services AG, Arthrex Inc., Johnson & Johnson, Zimmer Biomet, Edwards Lifesciences Corporation.

Bio-Implants Market Report Scope