Bioresorbable implants Market, Size, Share 2021-2028
Added: (Thu Nov 25 2021)
Pressbox (Press Release) -
Market Overview
The global bioresorbable implants market is expected to grow at a CAGR of 7.4% to reach a market value of USD 10,541.8 million by 2028.
Bioresorbable implants are implants made of a resorbable material. In the early stages of bone healing, bioabsorbable implants preserve fixation. Over time, the implant gradually decomposes, and the stresses are steadily transferred to the healing tissue.
The main benefit is that the mass has a temporary help, the bioabsorbable implants offer support for the body to allow healing of damaged tissue and disappear after the fixation task is completed, leaving tissue without any foreign material present.
Download free sample: https://www.datamintelligence.com/download-sample/bioresorbable-implants-market
Market Dynamics
The global market for Bioresorbable implants is primarily driven by the growing cases of chronic diseases and the increasing geriatric population worldwide. According to the United Nations, 2017, nearly 13 % of the global population comprised of people aged 60 plus years.
The capability of bioresorbable implants to dissolve inside the body without the constraint of surgical removal is driving the acceptance of such implants in healthcare. Bioresorbable implants have started to gain traction due to its numerous applications such as orthopedic implants.
The polymers are broadly used materials for the implants as they readily dissolve in a biological system.
However, the high cost of bioresorbable implants and surgery, as well as the time-consuming approval for bioresorbable implants, may hinder the market progress
Market Segmentation
– By Application
• Cardiovascular*
• Orthopedics
• Others
– By End-User
• Hospitals*
Ambulatory Surgical Centers
• Others
Geographical Share
North America is the dominant share in the global bioresorbable implants market, and it is primarily attributed to factors such as the high prevalence of cardiovascular disease and increase in geriatric population in the region is expected to boost the osteoporosis and osteoarthritis cases.
For instance, according to International Osteoporosis Foundation (IOF), there are approximately 44 million people with either osteoporosis or low bone mass, which represents 55% of the people aged 50 plus in the United States.
Moreover, its broad base of the patient population and the established healthcare infrastructure and the rising disposable income and higher investment in R&D activities contribute to the growth of North America’s share.
Asia-Pacific region is expected to be the fastest growing market during the forecast period, owing to the region’s rapidly improving healthcare infrastructure and the presence of a broad base of the target population. According to the
International Osteoporosis Foundation (IOF), osteoporosis affects almost 70 million Chinese over the age of 50 and causes some 687,000 hip fractures in China each year.
Competitive Trends
Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with increased focus on R&D are other ways the leading players improve their market presence. Key players are also bolstering their networks of distribution to expand the geographical scope of their products.
February 2019, Ocular Therapeutix, a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, announced the dosing of the first patient in a Phase 1 trial of OTX-TKI (tyrosine kinase inhibitor implant) in patients with wet Age-related Macular Degeneration (AMD).
February 2019, GT Medical Technologies has raised 10 million in funding to help support commercialization of its GammaTile Therapy, a bioresorbable implant designed to deliver local doses of radiation to patients with brain tumors.
The series A round was led by MedTech Venture Partners, with additional funding from BlueStone Venture Partners.
December 2018, REVA Medical, a leader in bioresorbable polymer technologies for vascular applications, announced the first implant of its recently launched Fantom Encore bioresorbable scaffold (BRS) in Italy.
September 2018, Johnson & Johnson Medical GmbH acquired spinal implant 3D printing specialist Emerging Implant Technologies (EIT), headquartered in Germany. Following this acquisition, Johnson & Johnson’s orthopedics branch DePuy Synthes will also strengthen its interbody implant portfolio which includes titanium integrated PEEK technology for minimally invasive spinal surgery.
September 2017, DePuy Synthes announces the U.S. launch of TRUMATCH Titanium 3D-Printed Implants for use in facial reconstruction. The new products were distributed through an exclusive agreement with Materialise, a leader in software solutions and 3D-printing services in the medical and industrial markets.
View Full Report: https://www.datamintelligence.com/research-report/bioresorbable-implants-market
Enquiry Before Buying: https://www.datamintelligence.com/enquiry/bioresorbable-implants-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com