Bio-implants Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $115.8 billion by 2020, registering a CAGR of 10.3% during the period 2016 - 2022. Cardiovascular bio implants would garner sizable share among other segments, accounting for 30% of total market throughout the forecast period. Additionally, the orthopedic and dental bio implants are forecast to have a promising growth rate from 2014 to 2020.
High prevalence of disease conditions such as cardiovascular, orthopedic and spinal disorders that are amenable to treatment via bio implants is the prime driver of the bio implants market. For instance, cardiovascular diseases prevalence is expected to exceed ~12 million by 2020. 30% of such cardiovascular patient population are amenable to treatment via bio implants; analogous factors exist in context of orthopedic, spinal and other disorders. Also, development of variants of bio/raw materials that enhance biocompatibility of bio implants (products) is expected to drive the market growth. Advanced technologies such as 3D printing, laser and nanotechnology deployed for manufacturing bio implants also significantly enhance biocompatibility of bio implants; therefore, it is expected to be another key driver for the global bio implants market.
Key findings of Bio-Implants Market:
- Cardiovascular, orthopedic and dental bio implants collectively garner about 70% market share of the global market
- Dental bio implants segment market is expected to be a key high-growth market with about 14% CAGR over 2014 - 2020
- Orthopedic bio implants are expected to be the second largest market segment (in terms of value) owing to rising occurrence of accidents and other such incidents that result in fractures, necessitating treatment via bio implants
- Lifestyle diseases, prominently the cardiovascular diseases can be treated and further post-operatively rehabilitated by usage of bio implants, namely pacemakers/stents/valves; therefore, rising incidence of such disorders is expected to render high growth rate and large market size in terms of value by 2020 for cardiovascular bio implants
Many companies aim to develop and market high-tech variants of bio implants. Such augmented supply-side infrastructure is thus expected to contribute to the overall market growth. DENTSPLY International, Wright Medical group, Invibio Biomaterial Solutions, Biomet (Zimmer), Medtronic, Stryker Corporation, Smith & Nephews, DePuy Synthes, Ethicon Inc., and KLS martin are few key players operating in bio implants market.