The global bio-implant market size is expected to reach USD 327.87 billion by 2032, according to a new study by Polaris Market Research. The report “Bio-implant Market Size, Share & Trends Analysis Report by Product (Cardiovascular, Dental, Spinal), By Material (Ceramics, Polymers, Biomaterial Metal, Alloys) Segment Forecasts, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing preference for bio-implant procedures over arthroscopy and other therapy therapies like physiotherapy is one of the key factors driving the market. This choice has emerged as a result of associated benefits like a higher success rate and biocompatibility. Rising orthopedic and cardiovascular disease (CVD) rates, a sizable geriatric population, shifting lifestyles, and the appeal of cosmetic procedures are additional factors pushing the market.
Growing public knowledge of cosmetic implants and improvements in bioengineering technologies are other factors driving the market. In many medical specialties, demand for non-surgical or slightly invasive bio-implants is rising. As an easier and more effective alternative to a root canal treatment, more and more dental patients are choosing to use bio-implants. An alarming rise in oral health issues will boost demand for bio-implants. For instance, according to WHO's 2021, Global Burden of Disease Study (GBDS), oral diseases were expected to impact roughly half of the world's population.
Technological advancements in bio-implant manufacturing, such as 3D printing, laser technology, and nanotechnology, have vastly improved the biocompatibility of these products. One of the main factors assisting these efforts is the rise in healthcare funding by governments worldwide.
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The increasing incidence of cardiovascular diseases and the resulting demand for early diagnosis and treatment are expected to drive an increase in interventional cardiology procedures. As a consequence, the market for cardiovascular implants will grow. The majority of patients opt for heart surgery, but bio implants can also be used to address a variety of cardiovascular conditions.
Furthermore, it is predicted that an increase in product launches will spur the examined segment's growth over the forecast period. For instance, in May 2022 Impulse Dynamics unveiled a smart mini optimizer. It is a portable battery that tracks heart failure and provides doctors and other medical workers with critical clinical data to manage their heart failure patients.
Bio-implant Market Report Highlights
Polaris Market Research has segmented the Bio-implant Market report based on product type, end-use, and region:
Bio-implant, Product Outlook (Revenue - USD Billion, 2019 - 2032)
Bio-implant, Material Outlook (Revenue - USD Billion, 2019 - 2032)
Bio-implant, Regional Outlook (Revenue - USD Billion, 2019 - 2032)