The Resorbable implant market size is estimated to reach $11.14 billion by 2026. Furthermore, it is poised to grow at a CAGR of 7.5% over the forecast period of 2021-2026. Resorbable implants are primarily done in the human body areas or organs that lack self-generation capacity and hence need support from the following implants. Moreover, the subsequent implants are made from polymers material such as polylactic, polydioxanone, and polyglycolic acid which can be dissolved or absorbed by the body over a period. Hence, the following implant need not be removed after a stipulated time. Due to the following properties, it is now used across various applications, such as in dental procedures and other orthopedic operations. Additionally, material innovations such as the use of zinc, iron, and magnesium are vividly evaluated by the researchers to find their ready use as bioresorbable cardiovascular stents. The following materials have proven biodegradability and a low corrosion index. The increasing life expectancy has made the geriatric population dominant across regions, and the multi-accessible use of the following implants across various applications are some of the factors driving the resorbable implant industry forward from 2021 through 2026.
Resorbable Implant Market Segment Analysis – By Material Type
The resorbable implant market based on material type can be further segmented into Polyglycolic Acid, Polylactic Acid, Polydioxanone, Poly-L-Lactic Acid, Poly-D Lactic Acid, Polycaprolactone, and Poly beta-hydroxybutyrate. Polylactic acid held a dominant market share in the year 2020. It is owing to the chemical property exhibited by the following acid class. As per the various studies, polylactic acid can get naturally converted into lactic acid by the body’s enzymatic reaction. Moreover, they can be safely removed by the body’s excretory systems. Concerning biological safety and the as per the US data on fatal car crash accidents in 2019, 33,244 people needed immediate medical attention due to bone fracture, ligament tear, or other ailments. For addressing the following cases, characteristics of metabolites, polylactic acid is an advantageous material compared to co-polymers such as polyglycolic acid and polycaprolactone.
However, the Poly-L-Lactic Acid segment is estimated to be the fastest-growing, with a CAGR of 7.9% over the forecast period. Moreover, the following material type has an addition of an “L” isomer that helps initiate the neocollagenesis process and is 2x more bio-degradable and biocompatible. The following material is predominantly used in screws and plates of orthopedic implants.
Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=16872
Report Price: $ 4500 (Single User License)
Resorbable Implant Market Segment Analysis – By End Users
The resorbable implant market based on the end-users is further segmented into Hospitals, Specialty Clinics, and Ambulatory surgical centers. Hospitals dominated the segment in the year 2020. The reason associated with the rising use of hospitals is that the hospital setups dominate in terms of number over the other two. For every ten hospitals, there are 2-3 orthopedic clinics and ambulatory surgical centers. Moreover, in cases of implant surgeries, other’s doctor opinion plays a pivotal role, and hence patients prefer to get treated in the following setup.
However, the ambulatory surgical center is estimated to be the fastest-growing segment, with a CAGR of 8.3% over the forecast period of 2021-2026. The following segment is seeing a rising preference over “preferential operation.” Additionally, the satisfaction rate for the following setups can go up to 92%, up against 60% for the hospitals. Furthermore, policies such as America’s rescue plan have shown special interest in these setups, as they carry the potential to save billions of dollars every year, as compared to hospitals.
Resorbable Implant Market Segment Analysis – By Geography
The Resorbable implant market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America’s resorbable implant market held a dominant share of 31% compared to the other regions in 2020. The following is owing to the region’s excessive spending on the healthcare domain. Moreover, the USA spends $11,000 per person in terms of health care. Additionally, healthcare spending accounts for nearly 19% of the country’s entire GDP. The following reasons, along with robust medical companies, have made the region dominant.
However, the Asia-Pacific region is set to grow at a lucrative pace in the projected period. This is because the regions are seeing an exponential allocation of budgets for building medical infrastructure. For example, India saw a 136% rise in the medical bill as compared to 2019. Moreover, Korea has been regarded as the pioneer of medical inventions. The following reasons, along with the rising geriatric population, will help the market unfold at a significant pace.
Resorbable Implant Market Drivers
The rising geriatric population is anticipated to drive the market, owing to the susceptibility of the senior population to have cardiovascular and other orthopedic concerns
The geriatric population is set to explode as per the current market trends. More so, the trends are seen in the high HDI countries such as Korea and the USA. As per the recent forecast of the US CDC, by 2036, the geriatric population and younger population will break even, and after the post, the former will increase exponentially. Researchers have suggested that the geriatric population is prone to have surgeries in any one of the following areas in their lifetime, especially post 65- hip replacement surgery, knee replacement surgery, shoulder replacement surgery, and spinal surgery. We are well aware that resorbable implants are predominantly made in orthopedic procedures; hence, the market will be aided by such a trend. Moreover, as per the CDC estimates, 640,000 orthopedic surgeries are performed each year at the cost of more than $20 billion.
The recent advancement in manufacturing bio-resorbable implant material is likely to drive for the market
Resorbable stents are of predominant use while performing cardiovascular surgery, particularly retaining to heart ailments. Stenting of arteries as a percutaneous transluminal angioplasty procedure has become a recent trend to perform minimally invasive surgeries. Moreover, technological development within this field has been seen. Furthermore, bio-resorbable stents supplanted in the human vessel can help in supporting the healing function and additionally degrade within 12-24 months. The following products are biocompatible and non-toxic, thereby providing the highest safety possible for the patient. In addition, magnesium has been studied as an excellent bioresorbable agent for stent manufacturing due to its biocompatibility and bioresorbability. Moreover, zinc has shown the potential to act as a superior bioresorbable cardiovascular stent. Lastly, around 850,000 angioplasties are done each year in the USA, hence supporting the market growth.
Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=16872
Resorbable Implant Market Challenges
Product recalls within the market have dented the market growth and have acted as a grave challenge
Whenever product recalls happen, the confidence in the said technology waves of, more so in cases of medical devices and ancillary products. At the Transcatheter Cardiovascular Therapeutic meeting held in 2019, it was found that the product by Abbott, ABSORB III, failed to perform as per market expectations, had low penetration in the market, and posed significant health risks. The ASORB III had a 150 microns strut which caused delivery issues and other ailments in the small vessels. Moreover, studies indicated that there were higher chances of lesion failures and advanced cases of thrombosis. Additionally, the product was made out of pliable plastic than metals, hence the challenge to accommodate breakings of stents on pressure. Due to the following shortcomings, the US FDA issued a warning letter to healthcare providers saying that the product increases the chances of adverse cardiac events. The following shortcomings within the technology have posed a ready market challenge.
Resorbable Implant Market Competitive Landscape
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the resorbable implant market. The top 10 resorbable implant market companies include:
Proxy Biomedical Ltd,
KLS Martin LP.,
Bionx Implants Inc.,
Degradable Solutions AG,
Integra Life Sciences Corporation,
Johnson & Johnson Services
Biotronik SE & Co.
In January 2021, Arterius and Translational Biomedical research center received funding of £1.1 million from the government of the UK to create bio-degradable and resorbable stents to help one million patients with severe cardiovascular disease.
In October 2020, Syntellix AG launched a new product- MAGNEZIX. It is the world’s first magnesium-based-metallically stable bio-resorbable orthopedic implant. The following has excellent tolerability and anti-infectious properties.
Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=16872
Geographically, North America held a dominant market share in the year in the year 2020. It is owing to a robust medical infrastructure present to treat various kinds of ailments and also have critical manufacturers pertaining to this industry. However, Asia-Pacific is set to grow at a lucrative pace owing to an increase in the budgetary allocation for medical infrastructure and the rising geriatric population.
The increasing use of bio-resorbable implant types supported by key development in technology will act as a driver for the market. However, adverse case reaction depending on the immune response has served as a challenge for the market.
Detailed analysis of the strengths, weaknesses, opportunities, and threats will be provided in our Resorbable Implant market report.
Cardiac Implant Devices Market
Orthotic Devices Market
For more Lifesciences and Healthcare Market reports, please click here
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.