Increasing geriatric population base and rising incidences of chronic conditions such as cardiovascular diseases, osteoarthritis, neuropathic (Alzheimer’s and Parkinson’s disease) and congenital diseases are the vital drivers for this market. Advanced technologies including 3D printing, laser technology and nanotechnology deployed to manufacture bio implants significantly enhance their biocompatibility, therefore, is expected to fuel the market growth during the forecast period. Bio implants includes biological implants (cell therapy, tissue engineering), biologised implants (technical implants, In-vivo cell lining) and bio functionalized implants (drug eluting stents).
Bio implants market is segmented on the basis of application, origin, materials and geography. Bio implants are popularly used as cardiovascular implants, spinal implants, orthopedics and trauma implants, dental, ophthalmic and neurostimulators implants. Cardiovascular implants are further classified into pacing devices (defibrillators and pacemakers) and stents. The implantable cardioverter defibrillators (ICDs) are expected to dominate this segment owing to increasing incidences of cardiac related conditions such as cardiac arrhythmias, ventricular fibrillation and ventricular tachycardia. The orthopedic implant segment is expected to witness lucrative growth in the coming six years due to rising numbers of hip and knee replacement surgeries. Cardiovascular, orthopedic and dental implants together are expected to represent over 80% of bio implants market over the forecast period. On the basis of origin of bio implants, the market is sub segmented into allograft, autograft and xenograft. Bio implants market is classified on the basis of materials into ceramics, biomaterial metal, alloys and polymers.
North America is expected to have the largest market share due to higher consumer base of aesthetic surgeries, spinal fusion, and rising numbers of hip and knee replacement surgeries. Europe is expected to garner lucrative market share owing to sophisticated healthcare infrastructure and supportive reimbursement policies. Asia Pacific is expected to register remarkable growth owing to improvement in government initiatives, rising spending in healthcare segment, new establishments of healthcare and diagnostic centers, and increased access to healthcare services.
Major players of the bio implants market are Stryker Corporation, Boston Scientific Corporation, Depuy Synthes, St. Jude Medical Inc, Wright Medical Group, Tornier N.V., Medtronic, Smith and Nephew, DENTSPLY International, Biomet Inc and Invibio Biomaterial Solutions.
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