The report on Bio-Implant Market Analysis by Product (Cardiovascular, Spinal, Dental), by Material (Ceramic, Biomaterial Metal, Polymers, Alloys), by Origin (Allografts, Xenografts), by End User (Hospitals, Specialty Centres, Clinics), and by Region – Forecast to 2025″ published by iCognition Insights examines and investigates the primary market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America and the Rest of the World (RoW) during period 2019-2025.
The global bio-implant market was valued at USD 67.78 billion in 2019 and is projected to reach USD 99.56 billion during the forecast period to 2025, growing at a CAGR of 6.6 percent over the next five years. While the market grew at a pace of 4.3% between period 2017-2019, the rise in the CAGR from 2020-2025 can be attributed to the factors such as rising use of bio-implants over physiotherapy, increasing cases of chronic diseases globally leading to the rise in invasive surgeries, and rising geriatric population.
Bio-Implant Market Sizing & Forecast: Request for Free Sample Report
Bio-Implants refer to the prostheses that are made up of biosynthetic materials like polymer and ceramics and are used in biological systems and normalizing physiological functions by tissue or organ replacement. Various ortopeadic prostheses and products like cardiovascular stent, defibrillators, pacemakers are covered under bio-implants as they are implanted in the patient’s body via surgery procedures. The report released by the United Nations, Department of Economic & Social Affairs sheds light on the rising number of elderly population and by 2030, it is estimated that around 611 million people in Asia-Pacific region will fall under elderly population category, growing at almost 47% and representing approximately 12.3% of the total APAC population. This enormous growth is expected to accelate the APAC regional market growth to become the fastest growing regional segment by 2025.
Key Market Segments and Market Share Analysis:
Dental Implants segment to exhibit the fastest CAGR
In 2019, the orthopedic segment accounted for the largest revenue share due to the rise in knee implant procedures and reimbursements and insurances for the surgeries. According to the Agency for Healthcare Research and Quality, more than 754,000 knee replacements were performed in the United States alone in 2017. Furthermore, the dental implants segment is projected to grow at a lucrative CAGR. This growth is contributed by the rising aging population leading to increase in the dental problems that demand aesthetic surgery.
Allografts segment is projected to grow at the fastest CAGR
Due to significant adoption in orthopedic, gynecological, cardiac surgery, and neurology procedures; and minimal discomfort after surgery and quick recovery of patients, the allografts category is expected to record the fastest CAGR during the forecast period. However, in 2019, the synthetic category was the top revenue-earning segment. The growth was attributed to its widespread use in many reconstructive procedures owing to its biological origin and excellent compatibility, providing additional advantages like minimum infection risk and speedy recovery.
Better infrastructure & favorable reimbursement scenario to result in the highest CAGR for the hospital segment among the end-users
The hospitals segment was the highest revenue-generating segment in 2019 and is projected to grow at the highest CAGR over the forecast period. This growth is due to the significant number of patients who rely on hospitals and the more robust infrastructure and favorable reimbursement environment for grafts. Clinics were the second most dominant segment, and is likely to maitain the position through 2025.
For detailed table of content of this report, please visit: Bio-impant Market Analysis TOC
Report Segmentation and Sub-Segmentation:
The gobal bio-implant market is categorized into four segments: Product Types, Origin, End-user and Region. To provide an in-depth analysis of the global and local market scenario, each market was thoroughly studied and further segmented into regions North America, Europe, Asia, and the Rest of the World (RoW).
Bio-Implant Market, By Product (Revenue, USD Billion, 2017 – 2025)
Bio-Implant Market, By Materials (Revenue, USD Billion, 2017 – 2025)
Bio-Implant Market, By Origin (Revenue, USD Billion, 2017 – 2025)
Bio-Implant Market, By End User (Revenue, USD Billion, 2017 – 2025)
Bio-Implant Market, By Region (Revenue, USD Billion, 2017 – 2025)
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Leading Players Adopting Innovative Strategies for Higher Market Share:
The report studied leading companies operating in Bio-implant market and the strategies and technologies adopted to differentiate their product portfolio, provide health advantages and drive customer growth across global markets.
Latest Industry Update:
Biorez BioBrace: The implant technology by Biorez BioBrace for tendon and ligament procedures received FDA 510(k) clearance in May, 2021.
Medtronic: A new study says that an implant from Medtronic- Reveal Linq implantable device is three times better than an external device in predicting new atrial fibrillation in stroke patients.
10 Key Questions Answered in the Report:
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