Bio-Implants Market is expected to reach US$ 223.06 billion by 2031

Metals Segment to Lead Bio-implants Market During 2022–2030

According to our new research study on “Bio-implants Market Forecast to 2031 – Global Analysis – by Type, Material, and End User,” the market was valued at US$ 117.82 billion in 2023 and is expected to reach US$ 223.06 billion by 2031; it is estimated to register a CAGR of 8.3% during 2023–2031. The bio-implants market growth is attributed to the increasing burden of lifestyle disorders and the growing demand for minimally invasive surgical procedures. Rapid technological developments and a rise in government initiatives are likely to provide opportunities for the market growth in the coming years. However, product recalls and complexities associated with implant materials hinder the market growth.

Bio-implants are designed to repair the physiological function of a damaged biostructure. The implantation method replaces supports and improves a missing, damaged, or existing biological structure. The bio-implants market report emphasizes the key factors impacting the market and showcases the developments of prominent players. Increasing incidences of bone loss in the geriatric population, growing demand for minimally invasive surgeries, rising cases of lifestyle disorders, and technological innovations in the healthcare sector are a few factors contributing to the growing bio-implants market size. Further, increased R&D activities and aggressive strategies by leading competitors are driving the bio-implants market. The high cost of bioimplant procedures and appropriate utilization of bioimplant products hamper the market growth.

Bio-implants Market, by Region, 2023 (%)

Source: The Insight Partners Analysis

Based on type, the bio-implants market is segmented into cardiovascular implants, orthopedic implants, dental implants, ophthalmic implants, and others. The cardiovascular implants segment held the largest bio-implants market share in 2023; it is also expected to register the highest CAGR during 2023–2031. Based on end user, the market is bifurcated into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics segment accounted for a larger market share in 2023. The same segment is anticipated to register a higher CAGR during 2023–2031. Hospitals & clinics provide healthcare services such as diagnostics and disease treatment with the help of modernized equipment. The increasing number of hospital admissions coupled with the growing prevalence of chronic diseases are projected to fuel the growth of the hospitals & clinics segment in the bio-implants market during the forecast period. Moreover, emerging nations are witnessing high demand for advanced hospital settings to cope with a huge patient pool and public health concerns. Thus, in the coming years, the rise in the number of hospitals & clinics is anticipated to boost the market growth.

The bio-implants market, based on material, is segmented into metals, ceramics, and polymers. The metals segment held the largest bio-implants market share in 2023. It is further expected to register the highest CAGR from 2023 to 2031. The ceramics segment is expected to hold the second-largest market share during the forecast period due to increasing approvals of ceramic products by regulatory authorities. For example, in December 2021, DentalPoint, the pioneer of two-piece ceramic implants, announced that it had received US FDA approval for its newest product, ZERAMEX XT. The product is a metal-free alternative to titanium implants for cosmetic dentures, especially in the aesthetic area.

Increasing Number of Product Approvals to Bring New Trends in Market in Coming Years  

A few of the key market players are focusing on implementing growth strategies, such as product approvals from regulatory authorities. For example, in December 2023, Wedo Bio-Medical Technology Co, Ltd., a Chinese medical company, announced that its new 3D-printed spinal implant had successfully received market approval in China. In March 2023, Bioretec Ltd, a pioneer in bioabsorbable orthopedic implants, received marketing approval for RemeOs trauma screw from the US Food and Drug Administration (US FDA). The screws are used in the healing of bone fractures, aligned with a clinical trial. In August 2021, Zimmer Biomet Holdings, Inc., announced that the US FDA had approved the de novo classification and has granted approval to commercialize tibial lengthening for Persona IQ, the world's first and only smart knee for total knee replacement. Persona IQ works with Zimmer Biomet's remote care management platform—mymobility with Apple Watch—and other components of the ZBEdge Connected Intelligence Suite. In April 2022, The Orthopedic Implant Company (OIC), a medical device manufacturer, announced the US FDA clearance and commercial launch of the first and only high-quality spinal plate on the market. Therefore, the bio-implants market trends include the growing number of product approvals in the coming years bio-implants.

Product Recalls and Complexities Associated with Implant Materials Conditions Hinder Market Growth

In February 2021, Medtronic, a US-based medical technology company, recalled its Evera, Viva, Amplia, Brava, Claria, Compia, and Visia implantable cardioverter-defibrillators (ICDs) and Cardiac Resynchronization Therapy (CRT-Ds) devices because of an unexpected and rapid reduction in battery life. This reduction in battery life was caused by a short circuit in some devices that triggered an initial warning that the battery was low sooner than expected. There were 444 complaints regarding these ICDs and CRT-Ds in the US. In October 2022, Genentech, a member of the Roche Group, announced a voluntary recall in the US of Susvimo, a ranibizumab injection ocular implant that is a biobetter for Lucentis (ranibizumab). Biobetters are derivative biological products intentionally modified to improve clinical effect, as well as allow more time between doses and improve tolerability. In October 2022, the Zimmer Biomet Nexgen knee replacement was recalled due to concerns that the components were failing at an unacceptably high level.

Further, titanium implants have promising applications in bone replacements, and their alloys play a crucial role in orthopedic and dental procedures. However, they have various disadvantages, such as a Ti-6Al-4V alloy that is toxic, a Ti-Zr alloy lacking mechanical stability and complexity in processing, and a Ti-Ni alloy with toxicity and low thermal conductivity. Therefore, product recalls and complexities associated with implant materials conditions hinder the bio-implants market growth.

Key players identified and evaluated for the bio-implants market analysis include LifeNet Health; Smith & Nephew; Arthrex, Inc.; Clinic Lemanic; Alpha Bio Tec; MiMedx Group; Medtronic; St Jude Medical (Abbott); Stryker Cooperation; DePuy Synthes; Biomet (Zimmer); Exactech, Inc.; Cochlear Ltd; and Straumann AG.

The bio-implants market, by type, is segmented into cardiovascular implants, orthopedic implants, dental implants, ophthalmic implants, and others. The market, by material, is segmented into metals, ceramics, and polymers. In terms of end user, the market is divided into hospitals & clinics and ambulatory surgical centers.

The scope of the bio-implants market report encompasses North America (US, Canada, and Mexico), Europe (France, Germany, UK, Spain, Italy, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). North America dominates the market. The bio-implants market in North America is expected to register a CAGR of 8.5% during 2022–2030. Asia Pacific is expected to record the highest CAGR in the market during the forecast period. The projected market growth in this region is attributed to the growing geriatric population, increasing disposable income, rising investments in healthcare by market players, and increasing cases of spinal cord injuries due to the rising number of traffic accidents.

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