Biological Implants Market is expected to reach USD 9.8 billion by 2024. Biological Implants are termed as man-made medical devices developed to replace a missing biological structure, enhance an existing biological structure, or support a damaged biological structure. They are exclusively used in several clinical disciplines to stabilize or replace organs. The Biological Implants Market is estimated to grow at a significant CAGR of 7.6% over the forecast period as the scope and its applications are rising enormously across the globe.
Enhanced
healthcare sector & modern infrastructure with the latest technology,
growing awareness among populace regarding the advantages of biological
implants, and growth in road accidents and sports injuries are documented as
the major factors of Biological Implants Market that are expected to drive the
growth in the years to come. However, high cost of implants may restrain
overall market growth. Biological Implant Market is segmented based on
muscle/tissue type, origin, mode of administration, material, and region.
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Cardiovascular,
soft tissue, orthopedic, and the other muscle/tissue typecould be explored in
Biological Implants in the forecast period. Other sectors comprise urologic,
dental, and ophthalmic. Cardiovascular bio-implants sector accounted for the
significant market share of Biological Implants and is estimated to lead the
overall market in the upcoming period. This may be because of growing
occurrence of obesity, diabetes, and hereditary diseases, high blood pressure,
and lack of physical exercise.
Xenograft,
autograft, synthetic, and allograft could be explored in Biological Implants in
the forecast period. Xenograft sector accounted for the significant market
share of Biological Implants and is estimated to remain dominant in the years
to come. However, allografts sector is estimated to grow at the fastest pace in
the coming years.
“Surgical”
and “injectable” are the mode of administration that could be explored in
Biological Implants in the forecast period. Surgical sector accounted for the
significant market share of Biological Implants and is estimated to continue
its dominance in the near future. There are several materials used in
biological implants like biological materials, ceramics, polymers, biomaterial
metals, and alloys that explored in the forecast period.
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The
market may be categorized based on end users like research institution,
hospitals, ambulatory surgical centers, and others that could be explored in
Biological Implants in the forecast period.“Hospitals” sector accounted for the
substantial market share of Biological Implants and is estimated to lead the
overall market in the upcoming period. This may be because of rising conditions
like heart arrhythmia that need cardiac pacemakers to stabilize the heart rate
and growing number of implantation surgeries in developing countries.
Globally,
North America may account for the substantial market share of Biological
Implants and is estimated to lead the overall market in the near future. The
reason behind the overall market growth could be developed healthcare
infrastructure with the latest technology and presence of key manufacturers in
the region.
Instead,
Europe and the Asia Pacific are also estimated to have a positive influence on
the future growth. Europe is the second largest region with significant market
share. This may be because of growing geriatric population and technological
enhancement. However, Asia Pacific is estimated to grow at the highest CAGR in
the forecast period. The aspects that may be ascribed to the growth comprise
developing healthcare infrastructure, growing occurrence of chronic diseases,
and increasing aging populace. The developing countries like India and China
are the major consumers of Biological Implants in this region.
The
key players of Biological Implants industry are Zimmer Biomet, Abbott, Stryker,
DePuySynthes, Medtronic, B. Braun, W. L. Gore & Associates, Corin, Wright
Medical technology, FH Orthopedics, Mediplus, and Edwards Lifesciences. These
players are concentrating on inorganic growth to sustain themselves amongst
fierce competition.
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