Bioresorbable Implants Market is Estimated to Witness High Growth

Bioresorbable implants are commonly used for temporary support inside the body during the healing process. They are made from resorbable polymers and become fully absorbed by the body over time. Some key applications include repair and reconstruction of ligaments and tendons, fracture fixation, and drug delivery. The implants eliminate the need for subsequent surgeries to remove permanent synthetic implants, thus reducing trauma and healthcare costs.

The global bioresorbable implants market is estimated to be valued at US$ 1399.4 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Rising adoption of minimally invasive surgeries has emerged as a major driver for the bioresorbable implants market. Minimally invasive procedures involve smaller incisions, less tissue damage, faster recovery time, and reduced risk of surgical site infections. Bioresorbable implants are well-suited for such surgeries as they do not require subsequent removal procedures. Moreover, growing geriatric population prone to orthopedic disorders and injuries has increased the demand for implants that can degrade and be absorbed naturally in the body over time. The global population aged 65 years and above is projected to reach 1.5 billion by 2050. The driver mentioned above, rising adoption of minimally invasive surgeries and growing geriatric population are fueling the growth of the bioresorbable implants market.

SWOT Analysis

Strength: Bioresorbable implants dissolve naturally and do not require additional surgery to remove them after healing. This reduces post-operative complications and lessens patient discomfort. The material composition allows for gradual load transfer to the new tissue as it heals.

Weakness: The rate of bioresorption is difficult to control and standardize. Additionally, the mechanical integrity of bioresorbable implants may degrade faster than the regrowth of new tissue in some cases.

Opportunity: Rising geriatric population and chronic diseases drive the need for effective and less invasive treatment options. Bioresorbable implants address this need by dissolving and avoiding additional surgery. Increasing awareness about their benefits opens growth avenues.

Threats: Cost of research and development for newer technologies acts as a barrier. Limited clinical evidence for long-term efficacy and safety may slow wider acceptance compared to conventional metal implants.

Key Takeaways

The Global Bioresorbable Implants Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated at US$ 1399.4 Mn.

Regional analysis: North America currently dominates the market owing to rapid technological adoptions and advanced healthcare infrastructure. However, Asia Pacific is poised to grow at the fastest pace due to rising medical tourism, increasing healthcare spending and massive patient population.

Key players: Key players operating in the bioresorbable implants market are CONMED Corporation (U.S.), Wright Medical Group N.V. (U.S.), Stryker (U.S.), Medtronic (Ireland), Smith+Nephew (U.K.), Zimmer Biomet (U.S.), Integra LifeSciences (U.S.), B. Braun Melsungen AG (Germany), Arthrex, Inc. (U.S.), Baxter (U.S.), Globus Medical (U.S.), DJO, LLC (U.S.), NuVasive, Inc. (U.S.), The Orthopaedic Implant Company (U.S.), Aesculap, Inc. (U.S.), Flexicare Medical Limited (Australia), Agilent Technologies (U.S.), Narang Medical Limited (India), Auxein Medical (India), Uteshiya Medicare (India).