SEATTLE–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24CMI&src=ctag” target=”_blank”gt;$CMIlt;/agt; lt;a href=”https://twitter.com/hashtag/BioresorbableImplants?src=hash” target=”_blank”gt;#BioresorbableImplantslt;/agt;–According to Coherent Market Insights, the global bioresorbable implants
market was valued at US$ 5,543.1 million in 2017, and is projected to
exhibit a CAGR of 7.7% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Bioresorbable Implants Market:
Key trends in market are advantages of bioresorbable material over inert
metallic implants, increasing incidence of orthopedic injuries, and
increase in research and development for the discovery of new product
for cardiovascular application, and increase in incidence of
osteoporosis and osteoarthritis.
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Market players are actively investing in research for developing novel
materials for implants. Moreover, the players are committed to offer new
and improved products in order to address the critical unmet needs of
patients. For instance, in March, 2015, Hyperbranch Medical Technology,
Inc. received approval for its Adherus AutoSpray Dural Sealant from the
U.S. Food and Drug Administration (FDA).
Moreover, key players operating in the market are focused on adopting
acquisition strategies in order to gain access to innovative products
and expand their product offerings in the potential markets. For
instance, in October 2018, Stryker acquired HyperBranch Medical
Technology, Inc., developer of innovative medical devices based on its
proprietary polymers and cross-linked hydrogels. The acquisition will
support and strengthen Stryker to obtain excellence in the dural repair
space and align making the healthcare better.
However, adverse effects materials used in bioresorbable implants for
short and long term are expected to hinder the market growth. As per the
NCBI report, October 2014, the long and short term adverse effects are
observed by the use of bioresorbable implants. For instance, the release
of organic acids can overwhelm the surrounding system and can cause bone
demineralization and in short term the polymer material in bioresorbable
implants such as Poly (α ester) and other can cause swelling and cyst
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Key Market Takeaways:
The bioresorbable implants market is expected to exhibit a CAGR of
7.7% during the forecast period (2018 – 2026), attributed to
increasing incidences of trauma injuries, prevalence of osteoporosis
and osteoarthritis, and advantages of bioresorbable implants as
compared to metallic implants. According to the International
Osteoporosis Foundation (IOF) fact sheet, an estimated 8.9 million
fractures are caused annually by osteoporosis worldwide and it affects
around 200 million women’s worldwide.
Market growth is attributed to approval and launch of novel products
for treatment in orthopedic injuries. For instance, in August 2008,
Bio Mini-Revo suture anchor received FDA approval developed by Conmed
Corporation for repair of the labrum in the hip joint.
Key players in the market are focused on adopting merger and
acquisition strategies to enhance their product portfolio, which in
turn is expected to propel the market growth over the forecast period.
For instance, in February 2018. Stryker Corporation acquired Entellus
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.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting
firm offering action-ready syndicated research reports, custom market
analysis, consulting services, and competitive analysis through various
recommendations related to emerging market trends, technologies, and
potential absolute dollar opportunity.
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