A) Market Overview:
The Bioresorbable Implants Market is experiencing significant growth due to various factors such as technological advancements in the field of medical implants, increasing prevalence of orthopedic and cardiovascular diseases, and rising geriatric population. Bioresorbable implants are gaining popularity as they eliminate the need for implant removal surgeries, reduce the risk of infection, and provide better patient comfort. However, the high cost of bioresorbable implants and lack of awareness among healthcare professionals and patients about the benefits of these implants are major obstacles in the market.
B) Market Key Trends:
One key trend in the Bioresorbable Implants Market is the growing use of bioresorbable implants in orthopedic surgeries. These implants are widely utilized in orthopedic applications such as fracture fixation, joint reconstruction, and spinal fusion. The main advantage of bioresorbable implants in orthopedics is that they gradually disappear over time as the body absorbs them, eliminating the need for implant removal surgeries. For example, biodegradable screws made from bioresorbable materials such as polylactic acid (PLA) or polyglycolic acid (PGA) are used for fracture fixation. These screws provide stable fixation during the healing process and eventually get absorbed by the body.
C) Segment Analysis:
The Bioresorbable Implants Market is segmented based on product type, application, and end-user. The orthopedic segment dominates the market in terms of revenue and is expected to continue its dominance over the forecast period. Orthopedic bioresorbable implants are extensively used for fracture fixation, joint reconstruction, and spinal fusion surgeries. These implants provide stability during the healing process and gradually get absorbed by the body, eliminating the need for implant removal surgeries. The growing prevalence of orthopedic disorders, especially among the geriatric population, is driving the demand for orthopedic bioresorbable implants.
D) Key Takeaways:
Market size related content:
The global Bioresorbable Implants Market Growth is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period. The increasing prevalence of orthopedic and cardiovascular diseases, coupled with technological advancements in medical implants, is driving the market growth. For example, the development of bioresorbable stents for coronary artery disease treatment has revolutionized the field of interventional cardiology.
Regional analysis:
North America is the fastest-growing and dominating region in the Bioresorbable Implants Market. The region has a well-established healthcare infrastructure, increasing healthcare expenditure, and a high prevalence of orthopedic and cardiovascular diseases. Moreover, favorable reimbursement policies and increased adoption of advanced medical technologies contribute to the growth of the market in North America.
Key players:
Key players operating in the global Bioresorbable Implants Market include Bioretec Ltd., CONMED Corporation, Depuy Synthes, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew Plc., and Boston Scientific Corporation. These companies focus on product launches, mergers and acquisitions, and collaborations to enhance their market presence. For instance, in 2019, Zimmer Biomet Holdings, Inc. launched its ROSA Knee System, a robotic surgical assistant for total knee replacement procedures.
In conclusion, the Bioresorbable Implants Market is expected to witness significant growth in the coming years due to technological advancements and increasing prevalence of orthopedic and cardiovascular diseases. The use of bioresorbable implants in orthopedic surgeries is a key trend driving the market. North America is the fastest-growing region, and key players are implementing various strategies to enhance their market presence
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