Global Bio-Implants Market: Overview
Bio-implants are widely used in organ transplantation and replacement of tissues. These are bioengineered products made up of human or animal origin and have been used in various fields of ENT leading to markedly high surgical outcomes. Emerging applications of bio-implants in different areas such as cardiovascular, neurological, orthopedic, and dental surgeries and technological advancements related to the manufacturing of bio-implants have led to a steady evolution of the global bio-implants market.
The report on global bio-implants is prepared with the help of a wide range of primary and secondary researches incorporates inputs from leading market leaders, industry strategists, biotechnology companies, and business executives. The research study offers in-depth insights into the current market status, share and size of major application segments, prominent trends, recent technological advances, and competitive dynamics. The analysis takes a closer look at the regulatory landscape in major regions and evaluates the leading strategies of market players in major regions such as North America, Europe, and Asia Pacific. The investment trends shaping the demand for key segments are covered in the study.
Global Bio-Implants Market: Trends and Opportunities
The market for bio-implants market is primarily driven by the rising ageing population, advancements in bioengineering technologies, and increased awareness about cosmetic implants. The demand for non-surgical bio-implants that do not need incision is increasing and is expected to fuel the use of bio-implants. A large section of the ageing population needs dental implants for restorative care thereby stimulating the demand for bio-implants. Furthermore, inadequate lifestyle has led to an increased incidence of chronic diseases such as cardiovascular diseases, osteoarthritis, and congenital and neuropathic disorders propelling the demand for bio-implants across the globe.
On the downside, high cost of bio-implants, particularly non-surgical ones, and lack of favorable reimbursement issues are the factors likely to hinder the market growth to an extent. Nevertheless, ceaseless technological advancement in the manufacturing of bio-implants such as 3D printing, nanotechnology, and laser technology have significantly improved the biocompatibility of implants. Coupled with this, the rise in government funding in healthcare is expected to boost the market along the forecast period. Orthopedic artificial implants and cardiac pacemakers are prominent segments of the bio-implants market.
Global Bio-Implants Market: Regional Market
North America leads the global bio-implants market followed by Europe and Asia-Pacific. However, owing to an increase in taxation and different austerity measures by the governments of various countries of North America are likely to hinder the market growth to some extent. Moreover, sovereign debt crisis in several countries of Europe is expected to hamper the growth of the bio-implant market in the foreseeable future.
Asia-Pacific is anticipated to witness promising growth iver the forecast period. The regional growth is attributed to increased government funding, influx of foreign investments, and considerable spending in healthcare sector. In addition, the rising number of diagnostic centers that have advanced diagnostic imaging technologies and increased accessibility to better healthcare services in emerging nations are expected to bolster the demand for bio-implants in the region.
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Global Bio-Implants Market: Competitive Landscape
Medical devices manufacturers are partnering with prominent healthcare service providers to launch advanced bio-implant solutions in developed countries to consolidate their market presence across major regions. Major players operating in the bio-implants market include Tornier N.V., Biomet, Inc., Smith & Nephew, Boston Scientific Corporation, Stryker Corporation, St. Jude Medical, Inc., Synthes Holding AG, and Medtronic.