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Bioimplants Market Expected to Reach $364.8 Billion by 2035

 
2022
Bioimplants Market

Report Code : A04298

quote The global bioimplants market has witnessed steady growth in recent years, fueled by an aging population, increasing prevalence of chronic diseases, and growing demand for minimally invasive surgical procedures. Bioimplants ranging from orthopedic implants to cardiac stents and beyond, offer promising solutions for improving patient outcomes and quality of life. Additionally, the integration of technologies like 3D printing and biocompatible materials is revolutionizing the design and manufacturing processes, enabling greater customization and compatibility with the human body. quote

Roshan Deshmukh - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Bioimplants Market," The bioimplants market size was valued at $132.8 billion in 2023, and is estimated to reach $364.8 billion by 2035, growing at a CAGR of 8.8% from 2024 to 2035. In addition, the Asia-Pacific region is expected to register significant growth in the forecast period, owing to rise in prevalence of cardiovascular diseases and developing healthcare infrastructure.

Bioimplants are medical devices that are implanted into the body to replace or support a biological structure or function. They are designed to integrate with living tissues and perform specific functions within the body. Bioimplants can be made from a variety of materials, including metals, ceramics, polymers, and composites.  Factors that drive the growth of the bioimplants market size include the surge in prevalence of orthopedic diseases, technological advancement in bioimplant technology. In addition, the high adoption of the dental implant to facilitate food chewing among the geriatric population.

Orthopedic conditions, ranging from osteoarthritis to fractures, have witnessed a notable uptick in occurrence across various age groups globally. Factors such as aging populations, sedentary lifestyles, and sports-related injuries have contributed to this escalation. As individuals live longer and engage in activities that strain their musculoskeletal system, the demand for innovative solutions to address orthopedic ailments has intensified. For instance, Zimmer Biotech offers range of knee replacement products. Bioimplants offer a promising avenue for patients seeking effective and durable treatment options. These implants, crafted from biocompatible materials, seamlessly integrate with the body's tissues, promoting faster healing and reducing the risk of rejection or complications. Thus, the rise in the joint and bone related disorders is expected to drive the growth of the market.

In addition, according to bioimplants market analysis, the technological advancement in bioimplant is expected to drive the growth of the market. These innovations represent a convergence of cutting-edge engineering, materials science, and biomedical research, enabling the development of increasingly sophisticated and effective implantable devices. One significant area of advancement lies in the refinement of biocompatible materials, such as titanium alloys and ceramic composites, which not only enhance the structural integrity of implants but also minimize the risk of rejection or adverse reactions within the body. Some of titanium implants available in the market are One2One Titanium Cranial (Zimmer Biomet), and TiMesh system (Medtronic Plc).

Moreover, advancements in 3D printing technology have revolutionized the manufacturing process, allowing for the creation of highly customized implants tailored to individual patient anatomy with unparalleled precision. For instance, according to 2021 article by National Library of Medicine, it was reported that 3D printing technology is widely used in the field of implantable medical device in recent decades because of its advantages in high precision, complex structure, and high material utilization. Thus, the according to bioimplants market forecast analysis, technological advancement in bioimplant technology is expected to drive the growth of the bioimplants market.

The bioimplants industry is segmented on the basis of type, end user, and region. By type the market is divided into cardiovascular bioimplants, dental bioimplants, orthopedic bioimplants, spinal bioimplants, ophthalmology bioimplants, other bioimplants. By end user, the market is classified into hospital, specialized clinics, and ambulatory surgical centers. Region-wise, the bioimplants industry is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

By type, the market is classified into cardiovascular bioimplants, dental bioimplants, orthopedic bioimplants, spinal bioimplants, ophthalmology bioimplants, other bioimplants. The orthopedic bioimplants segment dominated bioimplants market share in 2023. This is attributed to high adoption of the orthopedic bioimplants to treat orthopedic injuries. Furthermore, with an aging population globally, the prevalence of orthopedic conditions such as osteoarthritis, osteoporosis, and fractures is on the rise. As people age, the wear and tear on their joints increase, leading to a higher demand for orthopedic interventions like joint replacements and implants.

By end user, the market is classified into hospital specialty clinics and ambulatory surgical centers. The hospital segment dominated the bioimplants market share in 2023. This is attributed hospital being hub for large number of bioimplant surgical procedures. Furthermore, hospitals are well equipped with wide range of advance equipment to facilitate complex surgical procedures. However, specialty clinics is expected to register significant growth during the forecast period, owing to technological advancement and high adoption of minimally invasive procedures. Minimally invasive procedures typically require shorter hospital stays, leading to cost savings for both patients and healthcare providers. Additionally, the reduced need for post-operative care and rehabilitation further contributes to lower healthcare costs.

On the basis of region, North America accounted for largest share in 2023 and is expected to remain dominant during the forecast period, owing to well-established healthcare infrastructure and high incidence of traumatic injuries. However, according to bioimplants market trends analysis, Asia-Pacific is anticipated to witness notable growth, owing to surge in prevalence of cardiovascular disorders. In addition, many countries in the Asia-Pacific region, such as China and India, are experiencing rapid economic growth, leading to increased investment in healthcare infrastructure. This expansion includes the development of advanced medical facilities and the adoption of innovative medical technologies like bioimplants.

Key Findings of the Study   

  • On the basis of type, the orthopedic bioimplants segment dominated the market in terms of revenue in 2023.
  • On the basis of end user, the hospital segment dominated the market in terms of revenue in 2023. However, the specialty clinics segment is expected to register the highest CAGR during the forecast period.
  • On the basis of region, North America dominated the market in terms of revenue in 2023. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
     

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quote Bioimplants Market by Type (Cardiovascular bioimplants, Dental bioimplants, Orthopedic bioimplants, Spinal bioimplants, Ophthalmology bioimplants, Other bioimplants), by End User (Hospitals, Speciality clinics, Ambulatory surgical centers): Global Opportunity Analysis and Industry Forecast, 2024-2035 quote

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