Global Bio-implant Market to Reach $327.87 Billion by 2032: Growing Incidences of Chronic Conditions Drive Growth

DUBLIN, July 6, 2023 /PRNewswire/ -- The "Bio-implant Market Size, Share & Trends Analysis Report by Product, By Material Segment Forecasts, 2023-2032" report has been added to  ResearchAndMarkets.com's offering.

The global bio-implant market size is expected to reach USD 327.87 billion by 2032, according to a new study. The report  gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing preference for bio-implant procedures over arthroscopy and other therapy therapies like physiotherapy is one of the key factors driving the market. This choice has emerged as a result of associated benefits like a higher success rate and biocompatibility. Rising orthopedic and cardiovascular disease (CVD) rates, a sizable geriatric population, shifting lifestyles, and the appeal of cosmetic procedures are additional factors pushing the market.

Growing public knowledge of cosmetic implants and improvements in bioengineering technologies are other factors driving the market. In many medical specialties, demand for non-surgical or slightly invasive bio-implants is rising. As an easier and more effective alternative to a root canal treatment, more and more dental patients are choosing to use bio-implants. An alarming rise in oral health issues will boost demand for bio-implants.

For instance, according to WHO's 2021, Global Burden of Disease Study (GBDS), oral diseases were expected to impact roughly half of the world's population.

Technological advancements in bio-implant manufacturing, such as 3D printing, laser technology, and nanotechnology, have vastly improved the biocompatibility of these products. One of the main factors assisting these efforts is the rise in healthcare funding by governments worldwide.

The increasing incidence of cardiovascular diseases and the resulting demand for early diagnosis and treatment are expected to drive an increase in interventional cardiology procedures. As a consequence, the market for cardiovascular implants will grow. The majority of patients opt for heart surgery, but bio implants can also be used to address a variety of cardiovascular conditions.

Furthermore, it is predicted that an increase in product launches will spur the examined segment's growth over the forecast period. For instance, in May 2022 Impulse Dynamics unveiled a smart mini optimizer. It is a portable battery that tracks heart failure and provides doctors and other medical workers with critical clinical data to manage their heart failure patients.

Companies Mentioned

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

Bio-implant Market Report Highlights

• According to type, orthopedic implants had the highest market share in 2022. This can be attributed to factors like the rising prevalence of orthopedic diseases, the growing use of implants in orthopedic surgeries, and helpful government reimbursement schemes.
• The market share leader for bio-implants in 2022 was the biomaterial metal category, and it is expected to remain so for the duration of the forecast. Benefits like higher tensile strength and corrosion resistance compared to other materials like ceramics and alloys are major growth factors for this market. Applications for biomaterial metals include pacemaker devices, dental implants, and joint replacement implants, to name a few.
• North America is anticipated to dominate the global market due to factors like the rising demand for cutting-edge technologies across all medical specialties and the rising number of surgical procedures needing implants. According to the Organization for Economic Co-operation and Development's (OECD) Health Statistics, more than 1.4 million orthopedic procedures, including hip and joint replacement surgeries, were carried out in 2021 In the upcoming years, this figure is anticipated to increase. The local economy will undoubtedly benefit from this.

Key Topics Covered:

1. Introduction

2. Executive Summary

3. Research Methodology

4. Global Bio-implant Market Insights

4.1. Bio-implant Market - Industry Snapshot

4.2. Bio-implant Market Dynamics

4.2.1. Drivers and Opportunities

4.2.1.1. Growing incidences of chronic conditions

4.2.1.2. Technological Advancements to drive the market growth

4.2.2. Restraints and Challenges

4.2.2.1. Stringent regulatory framework

4.3. Porter's Five Forces Analysis

4.3.1. Bargaining Power of Suppliers (Moderate)

4.3.2. Threats of New Entrants: (Low)

4.3.3. Bargaining Power of Buyers (Moderate)

4.3.4. Threat of Substitute (Moderate)

4.3.5. Rivalry among existing firms (High)

4.4. PESTLE Analysis

4.5. Bio-implant Industry trends

4.6. Value Chain Analysis

4.7. COVID-19 Impact Analysis

5. Global Bio-implant Market, by Product

6. Global Bio-implant Market, by Material

7. Global Bio-implant Market, by Geography

8. Competitive Landscape

8.1. Expansion and Acquisition Analysis

8.1.1. Expansion

8.1.2. Acquisitions

8.2. Partnerships/Collaborations/Agreements/Exhibitions

9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/ryxuxj

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