Bio-implants are bioengineered products made up of biosynthetic materials such as collagen and tissue-engineered products like artificial skin and tissue. Bio-implants are used in organ transplantation and replacement of tissues.Bio-implants find application in cardiovascular, orthopedic, neurological, dental, and other areas. The global bio-implants market was 81.6 billion USD in 2018 and will reach 150.51 billion USD by 2025 at a CAGR of 9.14% during the period.
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Growth by Region
North America will have the largest market by the end of the forecast period due to strong healthcare infrastructure, growing aging population and increasing prevalence of chronic diseases. Europe will also have major share in the market due to rising technological advancements and high geriatric population. On the other hand, Asia – Pacific will show significant growth rate due to increased government funding and development in healthcare sector
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Drivers vs Constraints
The rising incidence of chronic diseases and lifestyle-related disorders are driving the market. The rising ageing population, advancements in bioengineering technologies and increased awareness about cosmetic implants drive the growth of the market. On the other hand, high cost of bio-implants and reimbursement issues are hindering the market growth.
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Industry Trends and Updates
Boston Scientific Corporation received US FDA approval for Vercise Deep Brain Stimulation (DBS) System.
DePuySynthes expanded implant offering for facial reconstruction with the launch of TRUMATCH Titanium 3D-Printed implants.