PORTLAND, Oregon, October 23, 2014 /PRNewswire/ --
A new report by Allied Market Research titled, "Global Bio-Implants Market (Types, and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 - 2020, suggests that the global bio implants market would reach $115.8 billion by 2020, registering a CAGR of 10.3% during 2014 - 2020. Cardiovascular bio implants would garner sizable share among other segments, accounting for 30% of total market throughout the forecast period. Additionally, the orthopedic and dental bio implants are forecast to have a promising growth rate from 2014 to 2020.
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High prevalence of disease conditions such as cardiovascular, orthopedic and spinal disorders that are amenable to treatment via bio implants is the prime driver of the bio implants market. For instance, cardiovascular diseases' prevalence is expected to exceed ~12 million by 2020. 30% of such cardiovascular patient population is amenable to treatment via bio implants; analogous factors exist in context of orthopedic, spinal and other disorders. Also, development of variants of bio/raw materials that enhance biocompatibility of bio implants (products) is expected to drive the market growth. Advanced technologies such as 3D printing, laser and nanotechnology deployed for manufacturing bio implants also significantly enhance biocompatibility of bio implants; therefore, it is expected to be another key driver for the global bio implants market.
Geographically, the developed regions such as North America and Europe together garner majority market share, about 70% of the global bio implants market (2013); however, going forward, it is estimated that the Asia Pacific regional market would lead with a sizable market share of about 20% (2020). Key factors attributable to such altered trend are increasing incidence of lifestyle diseases in the Asia Pacific region coupled with increasing purchasing power among patients.
View all reports related to medical devices at http://www.alliedmarketresearch.com/medical-devices-market-report
Key findings of the study:
Many companies aim to develop and market high-tech variants of bio implants. Such augmented supply-side infrastructure is thus expected to contribute to the overall market growth. DENTSPLY International, Wright Medical group, Invibio Biomaterial Solutions, Biomet (Zimmer), Medtronic, Stryker Corporation, Smith & Nephews, DePuy Synthes, Ethicon Inc., and KLS martin are few key players operating in bio implants market.
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