Bioimplants Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4035
Bioimplants Market size is projected to experience significant growth from 2019 to 2025.
Growing prevalence of chronic diseases will significantly impel the bioimplants market growth in forthcoming years. Cardiovascular diseases, cancer, chronic pulmonary diseases and diabetes mellitus are most common among other chronic diseases. According to World Health Organization, nearly 60% of deaths are due to chronic diseases which is expected to rise 73% by 2020. Unhealthy diet, tobacco consumption and physical inactivity are major causes of chronic diseases. Thus, among the elderly population increased incidence of chronic diseases will create opportunity for bioimplants market growth.
Technological developments and rising investment towards research in medical device industry will lead to momentous growth of bioimplants market. Developing surface treatment technology for bioimplants will increase precision and efficiency by preventing wear and corrosion. Such advancements in bioimplants treatment will impel growth in upcoming years. However, lack of skilled healthcare professionals and high implantation cost will hamper industry expansion to certain extent over the foreseeable period.
Cardiovascular bioimplants will generate significant revenue in coming years. Increased prevalence of cardiovascular diseases leads to growing bioimplant treatments. Arrhythmias, atrial fibrillation and heart block are major areas of bioimplant treatment among other. Thus changing lifestyle and habits leading to growth of the cardiovascular diseases impel growth of cardiovascular bioimplant market.
Metal-based bioimplants foresee momentous growth over the projected period. Stainless steel, cobalt-chromium and titanium based bioimplant alloys are used to avoid corrosion of the metal. Nitinol, an alloy consists of shape memory and pseudo elasticity property is used for urologic stents. Developments in metal-based bioimplants will provide growth opportunities for metal-based bioimplants market in the upcoming years.
Hospitals end-use segment will hold significant market share in forthcoming years. Increased number of surgical treatments for chronic diseases in hospitals will contribute to high market share of the segment. Furthermore, growing demand for bioimplants will positively impact the segmental growth over the upcoming years
The U.S. bioimplants market will hold strong position over the coming years due to high market share. According to the U.S. Department of Health and Human Services, nearly 6 in 10 adults in the country suffer from a chronic disease. Rising prevalence of chronic diseases, well-developed healthcare infrastructure and high healthcare expenditure will create opportunity for the growth of bioimplant treatment market in the U.S.
France bioimplants market will witness significant growth in coming years. Increasing prevalence of chronic diseases due to alcohol and tobacco consumption are responsible for growing bioimplant treatments in the country. In 2014, around 22% adults in France smoked tobacco daily and nearly 15% adults were obese due to unhealthy eating habits. Thus, growing bioimplant treatments will stimulate bioimplants market growth over the forecast period.
Some of the major market players functional in bioimplants market are Medtronic, Abbott Laboratories, Boston Scientific and Johnson & Johnson among others. Presently, the companies are focusing on new product development to enhance its product portfolio. For instance, In May 2019, Boston Scientific received the U.S. FDA approval for Vici Venous stent for the treatment of iliofemoral venous obstructive disease.
Bioimplants Market by Product, 2014-2025 (USD Million)
Bioimplants Market by Material, 2014-2025 (USD Million)
Bioimplants Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Boston Scientific Corporation
- Abbott Laboratories
- Johnson & Johnson
- Dentsply Sirona
- Invibio Ltd.
- Smith & Nephew plc
- Stryker Corporation
- Integra LifeSciences
- Zimmer Biomet
- Wright Medical Group
- Cook Group
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