Global 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 type could 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.
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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Devices Outlook, by Product (Revenue, USD Million, 2013 – 2024)
Outlook, by Application (Revenue, USD Million, 2013 – 2024)
• Cardiovascular Implants
• Orthopedic Implants
• Other Soft Tissue Implants
Devices Outlook, by Mode of Administration (Revenue, USD Million, 2013 – 2024)
Regional Outlook (Revenue, USD Million, 2013 – 2024)
• North America
• Asia Pacific
• Latin America
• South Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/medical-devices
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