30th December 2019 – Global Biological
Implants Market is expected to reach USD 9.8 billion by 2024.
Biological Implants are termed as man-made medical devices developed to replace
a missing biological structure, enhance an existing biological structure, or
support a damaged biological structure. They are exclusively used in several
clinical disciplines to stabilize or replace organs. The Biological Implants
Market is estimated to grow at a significant CAGR of 7.6% over the forecast
period as the scope and its applications are rising enormously across the
globe.
Enhanced healthcare sector & modern
infrastructure with the latest technology, growing awareness among populace
regarding the advantages of biological implants, and growth in road accidents
and sports injuries are documented as the major factors of Biological Implants
Market that are expected to drive the growth in the years to come. However,
high cost of implants may restrain overall market growth. Biological Implant
Market is segmented based on muscle/tissue type, origin, mode of
administration, material, and region.
Cardiovascular, soft tissue, orthopedic,
and the other muscle/tissue typecould be explored in Biological Implants in the
forecast period. Other sectors comprise urologic, dental, and ophthalmic.
Cardiovascular bio-implants sector accounted for the significant market share
of Biological Implants and is estimated to lead the overall market in the
upcoming period. This may be because of growing occurrence of obesity,
diabetes, and hereditary diseases, high blood pressure, and lack of physical
exercise.
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Xenograft, autograft, synthetic, and
allograft could be explored in Biological Implants in the forecast period.
Xenograft sector accounted for the significant market share of Biological
Implants and is estimated to remain dominant in the years to come. However, allografts
sector is estimated to grow at the fastest pace in the coming years.
“Surgical” and “injectable” are the mode
of administration that could be explored in Biological Implants in the forecast
period. Surgical sector accounted for the significant market share of
Biological Implants and is estimated to continue its dominance in the near
future. There are several materials used in biological implants like biological
materials, ceramics, polymers, biomaterial metals, and alloys that explored in
the forecast period.
The market may be categorized based on
end users like research institution, hospitals, ambulatory surgical centers,
and others that could be explored in Biological Implants in the forecast
period.“Hospitals” sector accounted for the substantial market share of
Biological Implants and is estimated to lead the overall market in the upcoming
period. This may be because of rising conditions like heart arrhythmia that
need cardiac pacemakers to stabilize the heart rate and growing number of implantation
surgeries in developing countries.
Globally, North America may account for
the substantial market share of Biological Implants and is estimated to lead
the overall market in the near future. The reason behind the overall market
growth could be developed healthcare infrastructure with the latest technology
and presence of key manufacturers in the region.
Instead, Europe and the Asia Pacific are
also estimated to have a positive influence on the future growth. Europe is the
second largest region with significant market share. This may be because of
growing geriatric population and technological enhancement. However, Asia
Pacific is estimated to grow at the highest CAGR in the forecast period. The
aspects that may be ascribed to the growth comprise developing healthcare
infrastructure, growing occurrence of chronic diseases, and increasing aging
populace. The developing countries like India and China are the major consumers
of Biological Implants in this region.
The key players of Biological Implants industry
are Zimmer Biomet, Abbott, Stryker, DePuySynthes, Medtronic, B. Braun, W. L.
Gore & Associates, Corin, Wright Medical technology, FH Orthopedics,
Mediplus, and Edwards Lifesciences. These players are concentrating on
inorganic growth to sustain themselves amongst fierce competition.
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