Bioabsorbable Implants Market is Expected to Expand at an Impressive Rate by 2027
Global Bioabsorbable Implants Market ? Introduction
Usage of bioabsorbable implants as alternatives to conventional synthetic implants has increased in the past few years. These implants get dissolved in the body and are replaced by natural bones.
The implant disappears after fixation is completed, without leaving any foreign material on the tissue surface. Polyglycolic acid, polylactic acid, and polydioxanone are the predominantly used materials in the manufacture of bioabsorbable implants, as these have the ability to dissolve in the biological system. Copolymer along with polyglycolic acid and polylactic acid are preferred because of higher strength.
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Polylactic acid is used in implants such as tacks, plates, screws, and rods. Polyglycolic acid is used in pins and screws. Bioabsorbable implants have several advantages over metallic implants including minimal stress and ability to dissolve within the body, thereby eliminating surgical removal. These also have the ability to provide necessary mechanical support for the tissue reconstruction process. However, bioabsorbable implants have disadvantages such as inflammation, decrease in mechanical strength, and osteolysis. Bioabsorbable implants have various applications in veterinary, orthopedics, sport injuries, and traumatology. These implants are used in orthopedic surgeries for anterior cruciate ligament reconstruction, meniscal repair, and fractures. Most of the market players focus on customizing the material properties of bioabsorbable and composite materials.
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Global Bioabsorbable Implants Market – Competitive Landscape
- In Januwary 2019, Ossio, announced it recived final clearance for bioaborable fixation implant for foot and ankle problems. The material in this implant assimilates in to surrounding parts with in a year.
- In July 2019, Evonik launche RESOMER. These are filaments for the 3D printing of bioresorbable medical implants.
Zimmer Biomet:-
Established in 2001, Zimmer Biomet is engaged in manufacturing designing and marketing of orthopaedic reconstructruive products, medicine and sports trauma products, implants etc. .Company offers LactoSorb SE delivery system is a streamlined resorbable fixation system.
Smith & Nephew plc :
Established in 1937 , Smith & Nephew plc is the U.K based multinational medical equipment manufacturing company.Company is an international producer of arthroscopy products, trauma and advanced wound management products, clinical therapy products, and orthopaedic reconstruction products. BIORCI bioabsorbable screws and REGENESORB absorbable biocomposite material are one of the finest products offered by the organization in bioabsorbable implants market
Other key players in Global bioabsorbable implants are Bioretec Ltd., Stryker, Smith & Nephew, DePuy Synthes, Medtronic, NuVasive, Zimmer Biomet, Zeus Industrial Products, Inc., Evonik Nutrition & Care GmbH, and Syntellix.
Global Bioabsorbable Implants Market – Dynamics
Increase in incidence of chronic diseases drives market
Increase in incidence of chronic diseases and road accidents and rise in the geriatric population drive the global bioabsorbable implants market. Additionally, surge in the use of bioabsorbable implants in medical and dental streams and technological advancements in the manufacture of large bioabsorbable implants fuel the growth of the market. However, high cost of treatment, stringent regulatory approval process for bioabsorbable implants, and unfavorable reimbursements restrain the global bioabsorbable implants market.
North America Dominates the Bioabsorbable implants Market, While Asia Pacific to Provide Lucrative Opportunities
North America accounted for the largest market share in 2018 due to increase in the number of players manufacturing bioabsorbable implants and high incidence of orthopedic and dental ailments. Moreover, rise in demand for orthopedic implants and continuous development of advanced technologies to improve the clinical performance of contemporary treatment modalities and devices are projected to fuel the growth of the market in North America during the forecast period. The market in Europe is expected to grow at a steady pace, driven by extensive research by market players, increase in incidence of chronic diseases, and new product development. For instance, in May 2018, REVA Medical, Inc. launched Fantom, the second generation bioabsorbable scaffold in Turkey, thereby expanding its product portfolio in the market.
The global bioabsorbable implants market is projected to witness strong growth in developing regions such as Asia Pacific and Latin America due to high awareness about bioabsorbable implants. Middle East & Africa is expected to provide significant opportunities in the market due to rise in product development, increase in number of orthopedic surgeries, and improving health care systems.
Global Bioabsorbable Implants Market – Segmentation
The global bioabsorbable implants market can be segmented based on
- Type of material
- Indication
Global Bioabsorbable implants market By Type of material
- Polyglycolic acid
- Polylactic acid
- Polydioxanone
- Self-reinforcing polymers
Global Bioabsorbable implants market By Type of Indication
- Pediatric orthopedics
- Osteomyelitis
- Others.