Bio-implants Market

Global Bio-implants Market Size (2024 to 2029)

The global bio-implants market size is estimated to be worth USD 41.41 billion by 2029 from USD 30.77 billion in 2024, growing at a CAGR of 6.12% from 2024 to 2029.

 DRIVERS

The growing prevalence of chronic diseases, rising adoption of sedentary lifestyles and increasing demand for minimally invasive surgeries majorly propel the growth of the global bio-implants market.

Bio-implants aid in improved management and targeted medicine administration for patients suffering from obesity, infections, and musculoskeletal diseases. The healthcare systems in both developed and developing countries are expected to continue to advance rapidly and support the growth rate of the bio-implants market. The growing awareness among people of scientific breakthroughs and the efficacy of cosmetic implants favor the market growth.

The global rise in dental issues contributes to the increasing demand for bio-implants and accelerates the market’s growth rate.

The demand for orthopedic artificial implants and cardiac pacemakers is on the rise owing to the growing patient population of cardiovascular and orthopedic diseases. The growing number of product releases and rising demand for minimally invasive procedures further boost the growth rate of the bio-implants market. The adoption of minimally invasive surgeries is growing significantly owing to the numerous benefits over traditional open surgeries such as reduced trauma, smaller incisions, faster recovery, and shorter hospital stays. The demand for Bio-implants such as stents, grafts, and drug-eluting implants remains high due to their crucial role in facilitating tissue repair, promoting healing and supporting organ function during medical procedures.

The favorable reimbursement policies and the increasing number of initiatives from several governments in favor of bio-implants further drive the market growth.

Bio-implants are gaining recognition worldwide and by healthcare organizations due to their potential for long-term cost-effectiveness owing to their ability to reduce hospitalization and post-operative care requirements. As a result, the governments of various countries have been putting efforts towards the implementation of reimbursement schemes and funding programs aimed at promoting the use of Bio-implants.

RESTRAINTS

Stringent regulatory approval processes and the high cost of bio-implant procedures majorly hamper the growth of the bio-implant market.

Limited reimbursement coverage, potential risks and complications associated with bio-implants, and technological limitations and challenges impede the market growth. Limited availability and accessibility of skilled healthcare professionals, the competition from alternative treatment options, and poor awareness and education among patients and healthcare providers further hinder the growth of the bio-implants market.

Global Bio-implants Market Share Insights

• Based on type, the cardiovascular implants segment had a significant share in the global bio-implants market in 2022 and is expected to grow at a healthy CAGR during the forecast period.
• Based on material, the biomaterials metals and alloys segment is expected to lead the market during the forecast period.
• The North American bio-implants market is estimated to showcase the highest CAGR from 2023-2028.

Impact of COVID-19 on the bio-implants market

The healthcare industry experienced a significant impact from the Covid-19 pandemic. The implant surgeries were canceled to conserve resources during the COVID-19 pandemic and this has led to a shortage of professionals available to perform these surgeries. The decrease in surgical procedures amidst the COVID-19 pandemic resulted in a decline in the growth rate of the bio-implants market. The cardiac implant sector also experienced setbacks in research and development due to the COVID-19 pandemic. Clinical trial sites were closed and in-person reporting of adverse cardiovascular disease events, such as cardiac arrest and implant-related infection was limited. The global market has picked up the pace during the post-pandemic period owing to the resumption of postponed surgeries worldwide. The global bio-implants market is anticipated to experience a notable growth rate during the forecast period due to the significant increase in surgical procedures and operations.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Bio-implants Market Analysis By Type

Based on type, the cardiovascular implants segment is predicted to account for a substantial share of the global market during the forecast period. The high incidence of heart-related disorders and the increasing adoption of minimally invasive procedures majorly drive the demand for cardiovascular implants and contribute to the growth of the cardiovascular implants segment. Technological advancements in cardiovascular implants, such as bioresorbable stents and transcatheter heart valves, the growing geriatric population that are more susceptible to cardiovascular conditions, rapid adoption of minimally invasive cardiac procedures, and rising awareness and screening programs for early detection and treatment of cardiovascular diseases fuel the growth rate of the cardiovascular implants segment.

The dental implants segment is anticipated to witness a healthy CAGR during the forecast period owing to the rising emphasis on aesthetic dental procedures and the desire for natural-looking and functional tooth replacements. The growing awareness about the benefits of dental implants, such as improved speech, chewing efficiency and preservation of jawbone health, technological advancements in dental implant materials and techniques, the increasing aging population and the increasing number of dental procedures performed in older adults promote the growth of the dental implants segment.

The orthopedic implants segment is another lucrative segment among all and is estimated to hold a considerable share of the global market during the forecast period owing to factors such as the rising prevalence of musculoskeletal disorders and the growing aging population worldwide.

Global Bio-implants Market Analysis By Material

Based on material, the biomaterials metals and alloys segment is expected to capture the leading share of the global market during the forecast period. The high strength and durability of metals and alloys that ensure long-term implant stability and functionality is one of the key factors propelling segmental growth. The growing number of applications of biomaterials metals and alloys including orthopedic, cardiovascular, and dental implants due to their versatility further boosts the segment’s growth rate.

The polymers segment is estimated to register a notable CAGR during the forecast period in the global bio-implants market. The biocompatibility, reduced risk of adverse reactions, and enhanced patient safety majorly drive the adoption of polymer material in the bio-implants market and boost the growth of the polymers in the global market. The versatility and lightweight nature of polymer materials further contribute to segmental growth.

Global Bio-implants Market Analysis By End-User

Based on end-user, the hospitals and clinics segment is estimated to dominate the global market during the forecast period. The growing availability of comprehensive medical infrastructure and resources, expertise and specialization in handling complex implant procedures and the ability to provide a wide range of implantation services primarily propel the growth of the hospitals and clinics segment. Integration with other healthcare departments and specialties and the capability to offer comprehensive patient care from diagnosis to postoperative follow-up further promote segmental growth.

The ambulatory surgical center segment is expected to occupy a notable share of the global market during the forecast period. The cost-effectiveness compared to traditional hospital settings, convenience and efficiency of same-day surgical procedures, and streamlined patient experience with reduced waiting times drive the growth of the ASCs segment. Focus on outpatient care to avoid overnight hospital stays and the growing demand for minimally invasive procedures suitable for ASC settings boost the segment’s growth rate.

REGIONAL ANALYSIS 

North America had the largest share of the global market in 2022. The domination of the North American region in the global market is likely to continue throughout the forecast period. The availability of well-established healthcare infrastructure and advanced medical technologies in North America, the growing prevalence of chronic diseases, favorable reimbursement policies, and insurance coverage for implant procedures in North America majorly drive the North American bio-implants market growth. The growing geriatric population and age-related conditions requiring bio-implant treatments and robust research and development activities in the bio-implant field further boost the growth rate of the North American market. The U.S. followed by Canada held the major share of the North American market in 2022 and the same pattern is anticipated to continue during the forecast period.

Europe held the second biggest share of the global market in 2022 and is expected to grow at a prominent CAGR during the forecast period. The growing awareness among the healthcare professionals and patient population regarding the benefits of bio-implants in Europe is one of the major factors propelling the European market growth. The growing number of initiatives and support in the approval of implant devices from the governments of European countries, the increasing number of heart specialty hospitals and advanced healthcare facilities, the growing demand for minimally invasive surgeries and implantable devices, and the presence of key market players and strong research collaborations in Europe further accelerate the growth rate of the European market.

APAC is the most lucrative regional market for bio-implants and is projected to register the highest CAGR in the worldwide market during the forecast period. The presence of a large population base and growing patient population suffering from chronic diseases in the countries of the Asia-Pacific region primarily drive the growth of the APAC market. The growing healthcare expenditure, an increasing number of improvements in the healthcare infrastructure, rising disposable income, growing middle-class population, an increasing number of advancements in medical tourism, rapid adoption of innovative technologies, and increased focus on healthcare reforms further fuel the growth of the APAC bio-implants market.

Latin America is predicted to hold a considerable share of the global market during the forecast period and register a steady CAGR. The growing awareness about the benefits of bio-implants and advancements in healthcare technology, the increasing aging population, expansion of the private healthcare sector, and increasing investments in medical infrastructure in Latin America drive the growth of the Latin American market.

MEA is forecasted to occupy a moderate share of the global market during the forecast period. The growing patient population of chronic diseases and lifestyle-related disorders and an increasing number of initiatives from the governments of MEA countries to improve healthcare access and quality in the region support the growth of the MEA market.

KEY PLAYERS IN THE GLOBAL BIO-IMPLANTS MARKET

Medtronic plc, Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Boston Scientific Corporation, Abbott Laboratories, Smith & Nephew plc, Danaher Corporation, Becton, Dickinson and Company, and 3M Healthcare are some of the companies playing a leading role in the global bio-implants market.

RECENT HAPPENINGS IN THE MARKET

• In February 2023, CurvaFix, Inc. disclosed its latest developments as a medical device manufacturer specializing in repairing fractures in curved bones.
• In June 2022, ZimVie introduced two new products in the United States market - the T3 Pro Tampered Implant and the Encode Emergence Healing Abutment. Both products have received clearance from the Food and Drug Administration.
• In April 2022, the Orthopaedic Implant Company announced the launch of their new high-value dorsal scanning plate, following clearance from the Food and Drug Administration.

DETAILED SEGMENTATION OF THE GLOBAL BIO-IMPLANTS MARKET INCLUDED IN THIS REPORT

This research report on the global bio-implants market has been segmented and sub-segmented into the following categories.

By Type

• Cardiovascular Implants
• Spinal implants
• Orthopedic Implants
• Dental Implants
• Ophthalmic Implants
• Other Implants

By Material

• Biomaterials Metals and Alloys
• Polymers
• Ceramic
• Other Materials

By End-User

• Hospitals and clinics
• Ambulatory surgical centers
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa