PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532360
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532360
Global bioresorbable implants market is estimated to be valued at USD 6.10 Bn in 2024 and is expected to reach USD 10.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 6.10 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.50% | 2031 Value Projection: | US$ 10.80 Bn |
Bioresorbable implants are medical devices that are designed to remain in the body temporarily and undergo biodegradation after serving their intended purpose. Made from polymers such as polylactic acid (PLLA) and polyglycolic acid (PGA), bioresorbable implants degrade over time and are absorbed by the body. This alleviates the need for subsequent invasive surgery to remove implants. These offer significant benefits over traditional permanent implants by causing less stress shielding, resorbing gradually to transfer load to healing bone, and avoiding long-term complications. Global bioresorbable implants market growth is driven by growing prevalence of cardiac and orthopedic diseases, rising number of surgeries, advantages of bioresorbable materials over permanent implants, and technological advancements.
MARKET DYNAMICS:
Global bioresorbable implants market growth is primarily driven by rising geriatric population who are more prone to develop cardiac diseases and orthopedic disorders. As per WHO, the number of people aged 65 years and above is expected to increase from 524 million in 2010 to nearly 1.5 billion in 2050. Bioresorbable implants reduce the risk of permanent implant-related infections and eliminate the need for implant removal. This boosts their demand over conventional implants. Moreover, advanced resorbable polymers with customized degradation rate are being developed to suit individual tissue healing process, thus, driving the market growth. However, high costs of bioresorbable implants as compared to metal implants and lack of awareness in low-income nations can hamper the market growth. Ongoing R&D to develop resorbable implants for soft tissue repair and drug delivery can offer lucrative opportunities for manufacturers.
Detailed Segmentation-