Bio-Implants Market - Forecast(2024 - 2030)

Report Code: HCR 0862 Report Format: PDF + Excel

Bio-Implants Market Overview

Bio-Implants Market size is estimated to reach $174.3 billion by 2027, growing at a CAGR of 8.1% during the forecast period 2022-2027. Bio implants can be delineated as support that substitutes and braces injured biological structures. Implants play a noteworthy role in the better management of chronic ailments like obesity, musculoskeletal conditions, neurological, dental, orthopedic, cardiovascular disorders, and others. For example, orthopedic implant mend fractures associated with ulna and radius. These man-made devices are fabricated from materials like ceramics, polymers, hydroxylapatite, biomaterial metal, and others. However, for patient safety, it is of utmost importance for bio-implants to have an optimistic intercession with the tissues of the body. Cardiovascular implants, ophthalmic implants, dental implants, and spinal implants are the commonly used types of bio-implants that are used in many different countries across the globe. Breakthroughs in bioengineering, surging adoption of cosmetic surgeries, desk-bound lifestyle, the sky-rocketing prevalence of chronic illnesses like CVDs, stimulating oral health complications, soaring geriatric population, enlarging health proactiveness among people, bettering health infrastructure in developing countries, and rising purchasing power are factors set to drive the growth of the Bio-Implants Market for the period 2022-2027.

Report Coverage

The report: “Bio-Implants Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Bio-Implants Market.

By Type: Cardiovascular implants, Neurological implants, Ophthalmology bio-implants, Dental & Prosthetics bio-implants, Joint reconstruction bio-implants, Spinal bio-implants, and Others.
By Material: Alloys, Polymers, Ceramics, Biomaterial Metal, and Others.
By End User: Hospitals, ASCs, Specialty centers, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa

Key Takeaways

  • Geographically, the North America Bio-Implants Market accounted for the highest revenue share in 2021. The growth is owing to high obesity rates, the profuse prevalence of CVDs, better cognizance among people regarding oral health procedures, well-established healthcare infrastructure, and high disposable incomes and quality lifestyles subjecting to augmented healthcare spending.
  • Ascending popularity of cosmetics procedures such as chin augmentation, lip fillings, ocular prosthesis, and breast implants, developing healthcare infrastructure in developing nations, surging health consciousness among people, enlarging preponderance of illnesses like otosclerosis, glaucoma, epilepsy, Parkinson’s disease, cardiac arrhythmia, heart failure, spinal stenosis, osteoarthritis, cancer, and many more are said to be preeminent driver driving the growth of Bio-Implants Market. Risk of metal corrosion, rising cost of healthcare procedures, exorbitant nature, and rapid job loss because of the covid19 are the factors said to reduce the market growth.
  • Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Bio-Implants Market report.

Bio-Implants Market Share, By Region (%) in 2021

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Bio-Implants Market Segment Analysis - By Type

The Bio-Implants Market based based on type can be further segmented into Cardiovascular implants, Neurological implants, Ophthalmology bio-implants, Dental & Prosthetics bio-implants, Joint reconstruction bio-implants, Spinal bio-implants, and Others. The cardiovascular implants segment held the largest share in 2021. The growth is owing to an overwhelming surge in the pervasiveness of cardiovascular diseases in different countries across the globe. These illnesses arose when the circulatory system, valves, and heart confronts some sort of disorder that impairs their smooth functioning. Valvular heart disease, atherosclerosis, ventricular tachycardia, heart failure, angina pectoris, and cardiac arrhythmia are perilous heart conditions that claim the lives of millions every year. Furthermore, cardiovascular and joint replacement bio-implants segments are estimated to be the fastest-growing with a CAGR of 9.4% over the forecast period 2022-2027. This growth is owing to jaw-dropping ascension in the old-age population worldwide. This rapid surge in the geriatric population has unleashed a wave of bone disorders which mainly includes scoliosis, chronic joint pain, bone fractures, spinal stenosis, and osteoarthritis; as a result, the overall demand for joint replacement surgeries has proliferated in recent years.

Bio-Implants Market Segment Analysis - By End User

The Bio-Implants Market based on end-user can be further segmented into Hospitals, ASCs, Specialty centers, and Others. The hospital segment held the largest share in 2021. The growth is owing to the rising demand for in-hospital surgical procedures as chronic illnesses are growing at a ruthless pace. Additionally, rising incidences of injuries associated with sports and road accidents have their fair share in propelling the demand for in-hospital procedures. Besides, hospitals are far better equipped with required accessories such as medical supplies and machines which heightens their importance as a healthcare facility. Moreover, comprehensive presence in cities and countryside, 24/7 availability, and top-flight medical professionals extend hospitals an edge over other medical facilities. Nevertheless, the hospital along with the ambulatory surgical centers' segment is estimated to be the fastest-growing with a CAGR of 9.7% over the forecast period 2022-2027. This growth is owing to proliferating trend of outpatient surgeries owing to their expediencies such as lower cost and quick treatments. Moreover, outpatient surgeries at ASCs allow patients to go home within hours.

Bio-Implants Market Segment Analysis - By Geography

The Bio-Implants Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 36% of the overall market in 2021. The growth in this segment is owing to the factors such as world-class healthcare facilities, a humungous pharmaceutical industry, the growing presence of outpatient surgery centers, high healthcare expenditure by the government, health-conscious public, widescale obesity, and decent disposable incomes. According to a report, the U.S. has more than 9,000 active ASCs throughout the nation and the number is growing as the cost of healthcare is witnessing a steep rise. On another hand, the presence of leading medical companies is another prominent factor responsible for propelling the aforementioned market in the said segment. Nevertheless, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to bettering healthcare infrastructure, high population, the booming pharmaceutical industry of India and China, and a rise in healthcare spending from the governments' end. Also, augmenting incidences of chronic disease as the old-age population is ascending relentlessly. According to a study, over 50 percent of deaths in India happen due to chronic maladies. A major faction of the Asian population lives on labor work. Workers lift heavy weights manually which leads to musculoskeletal hitches and intensify the requirement of undergoing surgical procedures. Moreover, the lower cost of healthcare and aesthetic procedures in Asia-Pacific as compared to other wealthy regions of the globe is another factor driving the market. For instance, a patient undergoing dental implants in the U.S. is supposed to pay somewhere around $3,000-$5,000, whereas, the same procedure will cost only $900-$2,000 in India.

Bio-Implants Market Drivers

Proliferation in the prevalence of life-threatening chronic ailments is anticipated to boost market demand.

According to the report, chronic maladies like heart attack and cancer are the biggest reason for increased mortality rates all over the globe. More than 600,000 people die from heart attacks in the U.S. Moreover, around 17-18 million lose their lives due to coronary heart diseases worldwide. Moreover, over 350 million cases of arthritis were found in 2021. According to a report, every year more than 45 percent of people who age above 60 develop osteoarthritis. Last year around 350-360 million global citizens were identified with joint disorders. The numbers are likely to grow steadily as the geriatrics population is anticipated to reach 2 billion in a few years. Moreover, rising incidences of road catastrophes are leading to a massive surge in neurological issues which is a prominent factor propelling the growth of the aforementioned market. According to a Forbes report, with a 10.5 percent hike as compared to 2020, more than 8000 people fall victim to crashes in starting months of 2021. Similarly, the situation is much worse in low-income countries. For instance, India in 2020 noted more than 300,000 deaths and more than 100,000 injuries due to road crashes. Severe injuries inflicted by such tragedies are a major factor propelling the prevalence of brain problems like hydrocephalus.

Increasing healthcare spendings, soaring disposable incomes, and high health awareness among people are the factors expected to boost market demand.

Many affluent countries spend around 10 percent of their GDPs every year on health, the U.S. is one of them. From $1.4 trillion in 2001, America’s healthcare expenditure soared to $4.1 trillion in 2020. High healthcare spending ensures a well-established network and infrastructure of healthcare facilities that stand ready to fulfill patients’ requirements. Additionally, per capita, health spending in countries is on the rise. For instance, U.S. per capita healthcare spending has crossed the $11,000 mark. On another hand, enlarging proactiveness among people regarding their health and rising disposable incomes are the well-known factors for the market hold.

Bio-Implants Market Challenges

The high cost associated with bio-implants is hampering the market expansion.

Dental implants and prosthesis are among the most costly dental procedures. The cost of dental implants often scares patients away, and it's not always evident why such a small screw can cost a few hundred, or even thousands of euros. The titanium alloy which is used to make the implant is not cheap in itself, since it must meet a variety of norms and regulations as it will be used in the human body. Furthermore, according to Smile Office, implant production technology is relatively costly. A machine that just slices a titanium rod and produces a billet for the future implant, for instance, costs around €250,000 in Europe. There could be 50-100 of these machines in the factory. Furthermore, the dental implant must be degreased and cleansed, which adds to the cost. Some manufacturers, such as Straumann®, also use a specific acid to roughen the surface of the implants, hence stifling the market expansion.

Bio-Implants Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Bio-Implants market top 10 companies include-

  1. Dentsply International
  2. Stryker Corporation
  3. Wright Medical Group
  4. Smith & Nephew
  5. DePuy Synthes
  6. Ethicon Inc.
  7. MiMedx Group
  8. Bausch & Lomb Inc.
  9. Edwards Lifesciences
  10. Abbott Laboratories

Recent Developments

  • On January 6, 2022, Michigan, United States-based renowned medical technology company “Stryker Corporation” announced that the company has successfully reached an acquisition agreement with California, United States-based Vocera Communication (a firm known for streamlining the lives of healthcare specialists through workflow optimization). According to the agreement Stryker will make a payment of $3.09 billion ($79.2 per share) in order to bring the acquisition to a close.
  • On March 11, 2019, California, United States-based medical technology firm Edwards Lifesciences (a company concentrating on hemodynamic monitoring) publicized the successful acquisition of Massachusetts, United States-based medical equipment manufacturer “Corvia Medical.” The total value of the transaction stood at around $35 million.
  • On November 11, 2020, Stryker Corporation publicized the successful acquisition of an ownership stake in Tennessee, United States-based medical device company “Wright Medical Group.” The acquisition has reinforced Stryker’s portfolio in extremities and trauma. The total value of the transaction stands at around $4 billion.

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1. Bio-Implants Market Overview
    1.1 Definitions and Scope
2. Bio-Implants Market - Executive Summary
3. Bio-Implants Market– Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis-Global
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Bio-Implants Market– Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. Bio-Implants Market– Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index-Global
    5.3 Case Studies of Successful Ventures
6. Bio-Implants Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Bio-Implants Market– By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. Bio-Implants Market - By Type (Market Size –$Million/$Billion) 
    8.1 Cardiovascular implants
    8.2 Neurological implants
    8.3 Ophthalmology bio-implants
    8.4 Dental & Prosthetics bio-implants
    8.5 Joint reconstruction bio-implants
    8.6 Spinal bio-implants
    8.7 Others
9. Bio-Implants Market - By Material (Market Size –$Million/$Billion) 
    9.1 Alloys
    9.2 Polymers
    9.3 Ceramics
    9.4 Biomaterial Metal
    9.5 Others
10. Bio-Implants Market – By End User (Market Size –$Million/$Billion) 
    10.1 Hospitals
    10.2 ASCs
    10.3 Specialty centers
    10.4 Others
11. Bio-Implants Market- By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico 
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific 
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of World
        11.5.1 Middle East
        11.5.2 Africa
12. Bio-Implants Market- Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs and partnerships
13. Bio-Implants Market– Industry Competition Landscape (Premium)
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. Bio-Implants Market– Key Company List by Country Premium (Premium)
15. Bio-Implants Market- Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
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