PUBLISHER: Global Insight Services | PRODUCT CODE: 1597189
PUBLISHER: Global Insight Services | PRODUCT CODE: 1597189
The biodegradable implant devices market is poised to expand from $5.2 billion in 2023 to $12.4 billion by 2033, with a CAGR of 8.9%.
The biodegradable implant devices market encompasses the development and commercialization of medical implants designed to naturally decompose within the body over time. These devices, including screws, pins, and stents, are crafted from materials like polylactic acid, offering a temporary solution that eliminates the need for surgical removal. This market is driven by advancements in biomaterials, increasing preference for minimally invasive procedures, and a growing awareness of the benefits of reducing long-term complications associated with permanent implants.
The biodegradable implant devices market is witnessing robust growth, driven by advancements in medical technology and increasing patient preference for minimally invasive surgeries. Orthopedic implants, particularly screws and pins, lead the market due to their widespread application in fracture fixation and joint reconstruction. Cardiovascular implants, notably stents, are the second-highest performing sub-segment, benefiting from rising incidences of cardiovascular diseases and the shift towards bioabsorbable materials to reduce long-term complications. Regionally, North America dominates the market, fueled by a strong healthcare infrastructure and significant R&D investments. Europe follows, with Germany and the UK as top-performing countries, supported by favorable regulatory environments and a growing focus on sustainable medical solutions. The Asia-Pacific region is emerging as a lucrative market, propelled by increasing healthcare expenditure, a large patient pool, and the adoption of advanced medical technologies. This region holds significant potential for future growth, especially in countries like China and India.
Key Companies
Stryker, Medtronic, Zimmer Biomet, Smith and Nephew, Nu Vasive, Globus Medical, KLS Martin Group, Wright Medical Group, Arthrex, Con Med Corporation, RTI Surgical, Biotronik, Integra Life Sciences, Ortho Pediatrics, Aesculap Implant Systems, Exactech, Spine Wave, Orthofix Medical, Cayenne Medical, Bioretec
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