Global Bio-implant Market Size/Share Envisaged to Reach USD 327.87 Billion by 2032, at 10.68% CAGR Rise: Report by Polaris Market Research

NEW YORK, May 22, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Bio-implant Market Size, Share & Trends Analysis Report by Product (Cardiovascular, Orthopedic, Dental, Spinal), By Material (Ceramics, Polymers, Biomaterial Metal, Alloys) Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global bio-implants market size/share was valued at USD 122.34 Billion in 2022 and is expected to touch USD 327.87 Billion by 2032, growing at a CAGR of 10.68% during the forecast period."

What is Bio-implants? How Big is Bio-implant Market Size & Share?

• Overview

Bio-implants are biosynthetic materials that are designed and developed to support the human physiological functions. They are used in medical applications for various purposes such as fixing fractures, restoring a bone, or monitoring and controlling specific physiological processes. Joint implants, dental implants, cardiovascular implants, cochlear implants, neurological implants, and breast implants are some of the common types of bio-implants.

These materials are continually evolving with developments in medical technology. In fact, ongoing research aims to enhance their functionality, compatibility, and durability that will lead to the development of more advanced implants in coming years. Increasing demand for bio-implant measures over arthroscopy and other therapy treatments like physiotherapy is driving the bio-implant market size.  

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Medtronic
• St Jude Medical (Abbott)
• Stryker
• DePuy Synthes
• Zimmer Biomet
• Organogenesis, Inc.
• Arthrex, Inc.
• Orthofix Holdings, Inc.
• Cochlear Ltd.
• Exactech, Inc

For Additional Information on Key Players, Request to Download Sample Pages Here: https://www.polarismarketresearch.com/industry-analysis/bio-implant-market/request-for-sample

Prominent Growth Driving Factors

• Surge in demand for bio-implants: Growing public knowledge of cosmetic implants and advancements in bioengineering technologies are factors contributing to the increasing demand for bio-implants, particularly in the field of aesthetic and minimally invasive procedures. More and more patients are choosing to use bio-implants as an effective alternative to a root canal treatment. For instance, the World Health Organization (WHO) 2021 Global Burden of Disease Study (GBDS) predicted that approximately half of the world's population would be affected by oral disorders.
• Sedentary lifestyles and chronic diseases: Sedentary lifestyles which have majorly contributing to the development of chronic diseases such as congenital disorders, CVD, gout and neuropathic disorders. This is one of the prominent factor propelling the bio-implant market growth.
• Technological advancements in bio-implant manufacturing: Rising technological developments in bio-implant manufacturing such as laser technology, nanotechnology, and 3D printing which have greatly enhanced biocompatibility of these products is expected to boost the market growth.
• Aging population and the surge in bio-implant demand: Increasing number of elderly geriatric individuals above the age of 80 as a result of rising modern lifestyles and medical breakthroughs. Elderly people don't like to go through lengthy medical procedures which is expected to accelerate the demand for bio-implants in this age range during the forecast period.

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Top Trending Factors

• Government funding and collaborations: The rise in healthcare funding by governments globally which is expected to bring new and more effective devices to market is anticipated to fuel the bio-implant market demand. Also, various governmental companies are collaborating with businesses that perform healthcare research and produce medical equipment, which is positively influencing the industry expansion. For instance, in June 2019, the Kazakh government expressed interest in collaborating with the Indian business MIDHANI to make titanium bio-implants for sale.
• Increase in geriatric population worldwide: The factor is projected to create growth opportunities during the forecast period. The American Cardiac Association reported in a 2021 essay that 40,000 youngsters in the US get congenital cardiac surgery per year.
• Product launches and innovation: The bio-implant market is expected to be driven by an increase in the number of product launches during the forecast period. One notable example is the introduction of the innovative Mini Optimizer by Impulse Dynamics in May 2022. This portable battery device not only monitors heart failure but also provides healthcare professionals with vital clinical information to assist in the effective management of their patients with heart failure.

Segmental Analysis

• Orthopedic implants segment witnessed the largest bio-implant market share in 2022

On the basis of type, orthopedic implants category accounted for the largest revenue share in 2022 owing to the rising use of implants in orthopedic surgeries, favorable government reimbursement programs, and growing use of implants in orthopedic surgeries. In 2021, 54.4 million people in the United States alone are expected to have arthritis, according to the Centres for Disease Control and Prevention (CDC). Moreover, dental implants are predicted to grow at fastest rate over the foreseen period due to the factors such as increasing requirement for dentistry and cosmetic procedures and dental implants as well as growing ageing population with more tooth deformities.

• Biomaterial metal segment is likely to hold higher share of the market throughout projected timeframe

Based on material bio-implant market segmentation, biomaterial metal category dominated the market in 2022 and is expected to maintain its dominance in the coming years. This growth can be attributed to the advantages like better tensile strength and corrosion prevention than other materials like ceramics and alloys. 

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Bio-implant Market: Report Scope & Segmentation

Geographic Overview

• North America is predicted to show a significant growth over forecast period

By geography, North America is estimated to lead the bio-implant market growth owing to the factors such as   growing implant usage in surgery and a rise in the need for cutting-edge technologies across all medical disciplines. The Organization for Economic Co-operation and Development (OECD) Health Statistics report that more than 1.4 million orthopedic procedures, including hip and knee replacement surgeries, were carried out in 2017. In the upcoming years, this number is anticipated to go up. The local economy will likely benefit from this.

Browse the Detail Report "Bio-implant Market Size, Share & Trends Analysis Report by Product (Cardiovascular, Orthopedic, Dental, Spinal), By Material (Ceramics, Polymers, Biomaterial Metal, Alloys) Segment Forecasts, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/bio-implant-market    

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Recent Developments

• In March 2020, Orthofix International N.V. acquired Spinal Kinetics Inc., a privately held manufacturer and developer of prosthetic cervical and lumbar discs. The modification was made to increase the selection of orthobiologics bio-implants offered by Orthofix.
• Currently, veterinarians are the only people who can utilise MaterialsCare's 3D printing methods for bio-implants, but the business has stated that by the end of 2021, humans will be able to use the technology as well. Similar to this, technical advancements have opened up new opportunities for individuals working on the development of biomaterials.

Some of The Important Questions Answered in the Market

• Which region offers the most rewarding open doors for the market?
• What are the business threats and variable scenarios concerning the market?
• Who are the significant players confronting and developing in the market?
• What is the projected size of the market?
• What are the opportunities and threats to which players are exposed in the market?
• What are some of the other regions that are rising at promising CAGR?
• What is market chain analysis by upstream raw materials and downstream industry?

Polaris Market Research has segmented the Bio-implant Market report based on product type, end-use, and region:

By Product Outlook

• Cardiovascular Implants
• Orthopaedic Implants
• Spinal Implants
• Dental Implants

By Material Outlook

• Ceramics
• Polymers
• Alloys
• Biomaterial Metal

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research