Bioimplants Market Dynamics, Industry Analysis, Trend and Demand, Forecast To 2027
Bioimplants are essential in medical procedures which are conducted to recover the functionality of damaged bio structure. Bioimplants are made up of biosynthetic materials such as ceramics, polymers and alloy and compatible for human body. The increasing spinal cord injuries, technological advancements, rising occurrences of lifestyle disorders, and growing geriatric population are the major factors driving the growth of the global bioimplants market. Additionally, increasing R&D spending and aggressive strategies adopted by the top players, such as mergers and acquisitions, are contributing to the growth of the market. For instance, in December 2017, Smith & Nephew acquired Rotation Medical Inc. for USD 125 million to expand its portfolio in bioimplants and to get access to the rotator cuff system of Rotation Medical.
The high costs associated with bioimplants, rising cost of bioimplant surgeries, unfavorable reimbursement policies and dearth of technicians may hamper market growth during the assessment period.
Some of the key players in the global bioimplants market are C.R.Bard, Inc. ,Abbott,Boston Scientific Corporation,Dentsply Sirona,Invibio Ltd.,Integra LifeSciences,Johnson & Johnson Services, Inc.,Medtronic,Smith & Nephew plc,Stryker,Wright Medical Group N.V.,Cook Group, and Zimmer Biomet.
The global bioimplants market has been segmented on the basis of type, material, origin and end-user.
The market on the basis of type has been classified as cardiovascular implant, dental implants, spinal bio-implants, orthopedic implants, ophthalmic implants and others. The cardiovascular implant segment has been further divided into stents, pacing devices and others. Dental implants are classified into plate form dental implant and root form dental implants. The spinal bioimplants segment has been further divided into form dental implant, intervertebral spacers , cervical implants, and motion preservation implants. Orthopedic Implants are divided into orthobiologics, trauma implants, joint replacement implants, and knee replacement implants. The ophthalmic implants segmented has been classified into glaucoma implants, and intraocular implants.
On the basis of material, the market has been divided into biomaterial metals, ceramics, alloys, and others. biomaterial metals are separated into titanium, gold, silver and platinum.
The market, by origin, has been segmented into autograft, allograft, xenograft, and synthetic.
On basis of end-user, the market has been divided into hospitals, clinics, specialty centers, and others.
The market in the Americas is expected to dominate the global bioimplants market during the forecast period owing to the growing geriatric population, increasing prevalence of chronic diseases, technological advancements in healthcare and rising occurrences of injuries related to spinal cord. The European market is expected to be the second-largest due to government funding and support of the healthcare sector, increasing cardiovascular and orthopedic disorders in the region. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the rising geriatric population, increasing prevalence of chronic disorders, and rising investment in healthcare sector by market players. The market in the Middle East & Africa is likely to account for the smallest share of the global bioimplants market.
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