Bio-Implants Global Market Report 2024

Bio-Implants Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on bio-implants market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for bio-implants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bio-implants market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Cardiovascular Implants; Dental Implants; Spinal Bio-Implants; Orthopedic Implants; Ophthalmic Implants; Other Types
• 2) By Material: Metallic; Ceramic; Polymer; Biological
• 3) By Origin: Allograft; Autograft; Xenograft; Synthetic
• 4) By End-User: Ambulatory Surgical Centers; Clinics; Hospital; Other End-Users
• Companies Mentioned: Medtronic PLC; Stryker Corporation; Zimmer Biomet Holdings Inc.; Dentsply Sirona Inc.; Johnson & Johnson
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Bio-implants are sophisticated medical devices or prostheses crafted from materials sourced from human or animal origin, as well as biosynthetic materials. These implants serve the crucial function of replacing missing tissues and supporting damaged biological structures, ultimately enhancing the body's biological functions. Bio-implants are instrumental in assisting and regulating various human physiological functions.

Within the bio-implant category, there are several main types, including cardiovascular implants, dental implants, spinal bio-implants, orthopedic implants, ophthalmic implants, and others. Cardiovascular implants, such as heart valves and coronary stents, play a vital role in treating cardiac complications, designed to remain within a patient's body to support healthy blood arteries and a functioning heart. Bio-implants are crafted from diverse materials, including metallic, ceramic, polymer, and biological components. They originate from different sources such as allograft, autograft, xenograft, and synthetic materials. These bio-implants find application in various healthcare settings, including ambulatory surgical centers, clinics, hospitals, and other end-user facilities.

The bio-implants market research report is one of a series of new reports from The Business Research Company that provides bio-implants market statistics, including bio-implants industry global market size, regional shares, competitors with a bio-implants market share, detailed bio-implants market segments, market trends and opportunities, and any further data you may need to thrive in the bio-implants industry. This bio-implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bio-implants market size has grown rapidly in recent years. It will grow from $116.28 billion in 2023 to $128.77 billion in 2024 at a compound annual growth rate (CAGR) of 10.7%. The growth observed in the historical period can be attributed to several key factors. Firstly, the aging population and the prevalence of chronic diseases played a significant role in driving demand for medical interventions and treatments. Additionally, there was an increase in surgical procedures, reflecting the need for various medical interventions and therapies. The overall rise in life expectancy also contributed to the demand for healthcare solutions and medical devices. Regulatory support and adherence to industry standards further facilitated the growth of the sector, ensuring the safety and efficacy of medical interventions and technologies.

The bio-implants market size is expected to see rapid growth in the next few years. It will grow to $191.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. Anticipated growth in the forecast period is driven by key factors such as the increasing demand for customization and personalization in medical solutions, the rise of minimally invasive procedures, a shift towards regenerative medicine, the widespread adoption of remote monitoring and telemedicine, and a supportive regulatory environment. Notable trends expected in this period include the development and adoption of customized and personalized implants, the growing interest in biodegradable and bioresorbable implants, continuous advancements in biomaterials, the expanding field of regenerative medicine and tissue engineering, and the integration of smart implants and wearable technologies. These trends reflect the dynamic landscape of the healthcare industry and the ongoing pursuit of innovative and patient-centric solutions.

The bio-implant market is poised for growth, primarily driven by the increasing prevalence of chronic conditions such as cardiovascular diseases and arthritis. Chronic diseases, persisting for a year or more and demanding continuous medical care, significantly impact global health. Utilized in the management and monitoring of chronic conditions, bio-implants play a crucial role in reducing mortality rates associated with these diseases. According to data from the World Health Organization in April 2021, approximately 71% of the 41 million annual deaths globally result from chronic diseases. This prevalence underscores the escalating demand for bio-implants to address chronic conditions effectively.

The bio-implants market is experiencing growth attributed to the aging population, characterized by an increasing proportion of elderly individuals in societies. Bio implants serve diverse purposes, including real-time health monitoring, drug delivery, and tissue regeneration, catering to age-related health issues. The World Health Organization's October 2022 projections indicate a significant demographic shift, with one in six individuals globally expected to be 60 years or older by 2030. This demographic transition, marked by a rise from 1 billion in 2020 to 1.4 billion individuals aged 60 and over, is a clear indication of the increasing demand for bio-implants. Looking ahead to 2050, the global population of individuals aged 60 and older is projected to double to 2.1 billion. The aging population is thus a significant driver for the expanding bio-implants market.

In the bio-implant market, key trends are centered around technological advancements, with major players focusing on innovative biomaterial technology, particularly 3D printing for bio-implant systems. This additive manufacturing technique produces 3D structures using cells and biomaterials, deviating from traditional metals and polymers. A notable example is the March 2022 launch of Evonik Industries AG's osteoconductive VESTAKEEP iC4800 3DF PEEK filament. This high-performance polymer, based on 3D-printing technology, enhances osteointegration between bone and implant, expediting bone healing. Notable features include impressive biocompatibility, biostability, and enhanced osteoconductive qualities, reflecting the forefront of technical innovation in the bio-implant sector.

Major companies in the bio-implants market are actively introducing novel implant solutions to elevate patient care standards. Notably, the introduction of the REGENETEN Bioinductive Implant by Smith+Nephew in July 2023 stands out. This collagen-based implant supports the body's natural healing response, fostering the growth of new tendon-like tissue to reinforce existing tendons. Launched in India after completing over 100,000 global procedures, this arthroscopically delivered implant has demonstrated promising results in rotator cuff disease. Clinical trials have shown an 86% relative reduction in re-tear rates at 12 months compared to conventional surgery alone, positioning the REGENETEN Bioinductive Implant as a transformative advancement in bio-implant technology.

In August 2022, CONMED Corporation, a prominent US-based medical technology company, made a strategic move by acquiring Biorez Inc., a medical device start-up, for an undisclosed amount. This acquisition is poised to enhance CONMED's sports medicine portfolio, with the addition of Biorez bringing innovative capabilities to the forefront. The acquisition strategically positions CONMED to capitalize on emerging technologies and reinforces its commitment to growth and innovation in the competitive bio-implant market.

Major companies operating in the bio-implants market report are Medtronic PLC, Stryker Corporation, Zimmer Biomet Holdings Inc., Dentsply Sirona Inc., Johnson & Johnson, Arthrex Inc., Boston Scientific Corporation, Smith & Nephew PLC, B. Braun Melsungen AG, Victrex PLC, Straumann Holding AG, Danaher Corporation, Cardinal Health Inc., Organogenesis Holdings Inc., Exactech Inc., Osprey Medical Inc., Edwards Lifesciences Corporation, Biotronik SE & Co. KG, aap Implantate AG, Abbott Laboratories, Biotronik Inc., Cook Medical LLC, Globus Medical Inc., Integra LifeSciences Holdings Corporation, LivaNova PLC, MicroPort Scientific Corporation, NuVasive Inc., Orthofix Medical Inc., RTI Surgical Holdings Inc., and Terumo Corporation

North America was the largest region in the bio-implants market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bio-implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the bio-implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The bio implants market consists of sales stents, pacing devices, orthobiologics, trauma implants, sport medicines, thoracolumber implants, intervertebral spacers, machined allograft spacers, and motion preservation implants. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.