Global Bioresorbable Implants Market - 2022-2029

Global Bioresorbable Implants Market - 2022-2029

Market Overview

Bioresorbable Implants Market size was valued US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 7.40% during the forecast period (2022-2029).

Bioabsorbable implants are the ones that absorb in the body. Bioresorbable materials used for the implants slowly diffuse in the human body, so a second surgery to remove the Synthetic material is not required. The materials used in bioabsorbable implants can be synthetic and natural. Bioabsorbable implants have a wide range of indications, from ocular implants to fixations of bone grafts.

Market Dynamics

Leading Competitors in the market are concentrating their efforts on obtaining FDA clearance is expected to drive the market.

Recently, many bioresorbable implants have been made available as a feasible alternative to various indications. These bioresorbable implants dissolve in the human body and then get replaced by natural bones. For the somewhat large implants, interconnecting porous assembly is needed so that it can be integrated with the implant for better vascularization. The additive manufacturing technology, this interconnecting porous structure can be manufactured directly. The leading competitors in the market are concentrating their efforts on obtaining FDA clearance for novel products to treat patients. For instance, Boston Scientific launched its SYNERGY Bioabsorbable Polymer Drug-Eluting Stent System consisting of platinum and chromium metals. This stent is highly accepted amongst physicians worldwide because of its optimal healing property and treatment options for complex cases. Also, on May 23, 2021, Bioretec Ltd. received FDA breakthrough device designation of its RemeOs Screws for use in traumatology and orthopedic surgery, according to a press release. The new products are intended for bone fractures and for correcting deformities or malalignments. Created from a bioactive alloy, the screws contain elements natural to the body, like magnesium, zinc and calcium, which help promote new bone formation. On March 23, 2020, Durysta (bimatoprost implant) received approval from the US Food and Drug Administration (FDA) for treating patients with open-angle glaucoma or ocular hypertension. The implant is administered directly into the eye, where it releases bimatoprost for an extended period. Thus, from the above statements, the market is expected to drive in the forecast period.

Restraint:

The high cost of system maintenance and installation, the fear of losing control over the outsourced process, concerns about data security and service quality, and rapid changes in economic strategies are some factors the market is expected to get hampered in the forecast period.

Industry Analysis

The bioresorbable implants market provides in-depth analysis of the market based on various industry factors such as unmet needs, pricing analysis, supply chain analysis, regulatory analysis etc.

COVID-19 Impact Analysis

The COVID-19 pandemic had a major impact on the global bioabsorbable implants market. The pandemic burdened healthcare systems globally and hospitals postponed elective surgeries such as orthopedic surgeries, restricting the demand for bioresorbable implants. COVID-19 has limited the operations of the chemicals and materials industry, hampering the global market. Supply chain disruptions and difficulty in procuring raw materials have somewhat restrained the bioresorbable implants market. Despite these short-term challenges, the global bioabsorbable implants market is expected to generate significant growth in the coming years.

Segment Analysis/B>

PLGA- Poly lactic-co-glycolic acid segment is expected to be the dominant segment in the market during the forecast period.

The PLGA- Poly lactic-co-glycolic acid segment accounted for the largest market share in 2021. PLGA- Poly lactic-co-glycolic acid is one of the most strongly biodegradable polymers. It is an FDA-approved Generally Recognized as Safe (GRAS) polymer used in various resorbable surgical devices such as meshes, sutures and ligatures. PLGA is a copolymer for drug delivery owing to its mechanical properties, biodegradability, biocompatibility, and ease of processing. It has been used to provide various vascular tissue–engineering devices, such as grafts and prosthetic devices. Early generations of PGA resorbable implants have been known to cause local effects during bio-absorption, and the rapid degeneration of the implants may cause uncertainty before healing occurs. Specifically, PLGA materials are also developed for the dental field in films, membranes, nanoparticles or microparticles. PLGA membranes have been studied with promising results, alone or combined with other elements in bone healing procedures. Biocompatibility, flexibility, biodegradability and minimal side effects are the main benefits when using this polymer for biomedical applications. In particular, PLGA has mainly been studied to develop devices for the controlled delivery of small molecule drugs, proteins and other macromolecules in commercial use and research. Thus, from the above statements, the market segment accounted for the largest market share in the forecast period.

Geographical Analysis

North American region is expected to hold the largest market share in the global bioresorbable implants market.

The North American bioabsorbable implants market is expected to hold the largest regional share of the global market, owing to factors such as a high prevalence of cardiovascular disease and an increase in the geriatric population, which is expected to increase the number of cases of osteoporosis and osteoarthritis. Technological advancement in bioabsorbable implants, increasing medical innovation and approval of new implants by the FDA are also factors driving the growth of the North American market. For instance, Stryker has developed a new bioabsorbable implant, SonicAnchor, used for suture and tissue fixation. The implant employs ultrasonic energy to liquefy and flow into the cancellous bone for secure fixing. The device is suitable for suture or tissue fixation in ankle, foot, knee, wrist, hand, elbow, and shoulder open operations. Manufacturers are combining strategies to improve patient care. Moreover, in June 2022, a team of researchers from Northwestern University developed a new type of flexible bioabsorbable implant that relieves pain in patients without using drugs.

Competitive Landscape

Major key players in the bioresorbable implants market are Bioretec Ltd, Stryker Corporation, ConMed Corporation, Syntellix AG, Johnson & Johnson, Zimmer Biomet, Becton Dickinson and Company, KLS Martin, Smith and Nephew and Evonik Industries AG, among others.

Bioretec Ltd.:

Overview:

Bioretec Ltd. is a medical device company focusing on developing strong, safe and reliable bioabsorbable and bioresorbable implants for pediatric and adult orthopedics. The company's products are used worldwide, and it continues to develop materials and products for load-bearing further clinical applications. The company's work is under ISO 13485:2016 and FDA Part 820. All the Activa products hold CE certificates, and most are also 510(k) cleared by the FDA.

Product Portfolio:

RemeOs Screw bioresorbable magnesium implants: RemeOs bioresorbable metallic implants are in the clinical testing phase. These implants will offer a strong and bioresorbable solution for load-bearing medical operations. These implants eliminate implant removal while still maintaining strength and rigidity close to traditional steel or titanium implants.

The global bioresorbable Implants market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.