Bioimplants Market to Reach $364.8 Billion, Globally, by 2035 at 8.8% CAGR: Allied Market Research

PORTLAND, Ore., June 4, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Bioimplants Market by Type (Cardiovascular bioimplants, Dental bioimplants, Orthopedic bioimplants, Spinal bioimplants, Ophthalmology bioimplants, Other bioimplants), and End User (Hospitals, Speciality Clinics, Ambulatory Surgical Centers): Global Opportunity Analysis and Industry Forecast, 2024-2035". According to the report, the bioimplants market was valued at $132.8 billion in 2023, and is estimated to reach $364.8 billion by 2035, growing at a CAGR of 8.8% from 2024 to 2035.

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Prime determinants of growth

The bioimplants market is expected to grow significantly owing to rise in prevalence of cardiovascular diseases, surge in geriatric population, and high adoption of the orthopedic implants for the treatment of joints and other complications. The exponential rise in the prevalence of cardiovascular diseases (CVDs) has emerged as a significant driver propelling the growth of the bioimplants market.

Report coverage & details:

2023 Recession Impact Analysis

• The global recession has a significant impact on the bioimplants market.
• The economic uncertainty has negatively impacted the research and development activities in bioimplants technology.
• However, market for bioimplants is expected to recover owing to high adoption of bioimplants for treatment of chronic diseases such as cardiovascular diseases and neurological conditions among others.

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The orthopedic bioimplants segment to maintain its leadership status throughout the forecast period.

By type, orthopedic bioimplants segment held the highest market share in 2023 and is expected to dominate in the forecast period, accounting for more than one-third of bioimplants market revenue, owing to high adoption of bioimplants for hip and knee replacements and for treating fractures and craniofacial deformities.

The hospital segment to maintain its leadership status throughout the forecast period.

By end user, the hospital segment held the highest market share in 2023, accounting for almost half of the bioimplants market revenue. This is attributed to the fact that hospitals cater large patient base opting treatment for chronic diseases such as cardiovascular diseases, orthopedic injuries, neurovascular among others. However, the specialty clinics segment is expected to register highest CAGR owing to high number of patients preferring specialty clinics for ophthalmic and dental treatment.

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The North America segment to maintain its leadership status throughout the forecast period.

By region, the North America segment held the highest market share in 2023, accounting for almost one-third of bioimplants market revenue. This is attributed to the strong presence of key players in the region, the well-developed healthcare infrastructure, and surge in incidence of orthopedic injuries due to traumatic injuries. However, Asia-Pacific is expected to register a noteworthy CAGR during the forecast period, owing to surge in cardiovascular and ophthalmic disorders.

Leading Market Players: -

• Zimmer Biomet Holding Inc.
• Stryker Corporation
• Johnson and Johnson
• Medtronic PLC
• Abbott Laboratories
• Dentsply Sirona Inc.
• Boston Scientific Corporation
• Victrex PLC
• Smith & Nephew plc
• Arthrex Inc

The report provides a detailed analysis of these key players in the bioimplants market. These players have adopted different strategies, such as product approval, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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