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. 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.

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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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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