An implant is a medical device which replaces, supports or enhances a missing, damaged or existing biological structure. An implant is man-made device which is inserted into the human body cavity. Bio-implants are made from biological cells which are compatible with the human body cells. For instance, bio-implants are used in the treatment of skin burns or sores caused by surgeries. Eye bio-implants are used in the treatment of cornea sores or chemical damages in the eye.
Bio-implants Market: Drivers & Restraints
The advantage of bio-implants over the conventional forms of implants is that bio-implants is a fast method of treatment with negligible complications. The bio-implant owing to its nature builds into the human body organ naturally. The bio-implants are similar in morphology to the original human body tissue. Bio-implants do not necessarily need incisions but bio-implants are pressed through the human body organ. Bio-implants provide lifetime guarantee and heal the human body organ rapidly. However, high treatment costs and reimbursement issues are the factors that could hamper the growth of the global bio-implants market. The bio-implant approvals are regulated by a large number of laws which could act as a hurdle in the global bio-implants market due to this time consuming approval process.
Bio-implants Market: Segmentation
The global bio-implants market is classified on the basis of type of implant, therapeutic area and geography.
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Based on type of implant, the global bio-implants market is segmented into the following:
Based on therapeutic area, the global bio-implants market is segmented into the following:
Bio-implants Market: Overview
The global bio-implants market is forecast to witness significant growth rates due to the rapidly improving healthcare infrastructure in developed as well as developing regions. The increasing prevalence of chronic health disorders especially in the aging population coupled with rising disposable incomes is expected to propel the growth of the global bio-implants market. The geriatric population is expected to double in 2030 as compared to 2010. This is a major factor that is expected to determine the growth of dental bio-implants and orthopedic bio-implants. The dental therapeutic area subsegment is estimated to account for a significant share in the global bio-implants market. By therapeutic area, orthopedics is the key growth subsegment in the global bio-implants market which is projected to register a high CAGR among other subsegments during the forecast period.
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Bio-implants Market: Region-wise Outlook
Depending on geographic regions, global bio-implants market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America is the largest market for bio-implants in terms of revenue due to the large number of players in bio-implants and strong healthcare infrastructure. Europe is the second largest bio-implant market owing to the technological advancements in healthcare and considerably high geriatric population in the region. North America and Europe together account for a major share in the global bio-implants market. The MEA region has witnessed mass productions of bio-implants in diverse therapeutic areas which makes the MEA a potential bio-implant market. Also, the bio-implants in MEA bio-implant market are cheaper as compared to the global prices and are able to meet domestic demand.
Bio-implants Market: Key Players
Some of the key market players identified in global bio-implants market are LifeNet Health, Arthrex, Inc., Clinic Lemanic, Nobel Biocare Services AG, Osprey Biomedical Corporation, Alpha Bio Tec, MiMedx Group, Inc to name a few. The global bio-implants market players are involved in collaborations, partnerships, mergers and acquisitions in order to enhance product development process and expand the global bio-implant footprint.
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