An implant is a medical device which replaces, supports or enhances a missing, damaged or existing biological structure. An implant is man-made device which is inserted into the human body cavity. Bio-implants are made from biological cells which are compatible with the human body cells. For instance, bio-implants are used in the treatment of skin burns or sores caused by surgeries. Eye bio-implants are used in the treatment of cornea sores or chemical damages in the eye.
Bio-implants Market: Drivers & Restraints, Segmentation, Overview and Key Players
The advantage of bio-implants over the conventional forms of implants is that bio-implants is a fast method of treatment with negligible complications. The bio-implant owing to its nature builds into the human body organ naturally. The bio-implants are similar in morphology to the original human body tissue. Bio-implants do not necessarily need incisions but bio-implants are pressed through the human body organ. Bio-implants provide lifetime guarantee and heal the human body organ rapidly. However, high treatment costs and reimbursement issues are the factors that could hamper the growth of the global bio-implants market. The bio-implant approvals are regulated by a large number of laws which could act as a hurdle in the global bio-implants market due to this time consuming approval process.
The global bio-implants market is classified on the basis of type of implant, therapeutic area and geography. Based on type of implant, the global bio-implants market is segmented into the following: Allograft, Autograft, Xenograft; Based on therapeutic area, the global bio-implants market is segmented into the following: Orthopedics, Dental, Ophthalmic, Others
Depending on geographic regions, global bio-implants market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America is the largest market for bio-implants in terms of revenue due to the large number of players in bio-implants and strong healthcare infrastructure. Europe is the second largest bio-implant market owing to the technological advancements in healthcare and considerably high geriatric population in the region. North America and Europe together account for a major share in the global bio-implants market. The MEA region has witnessed mass productions of bio-implants in diverse therapeutic areas which makes the MEA a potential bio-implant market. Also, the bio-implants in MEA bio-implant market are cheaper as compared to the global prices and are able to meet domestic demand.
Some of the key market players identified in global bio-implants market are LifeNet Health, Arthrex, Inc., Clinic Lemanic, Nobel Biocare Services AG, Osprey Biomedical Corporation, Alpha Bio Tec, MiMedx Group, Inc to name a few. The global bio-implants market players are involved in collaborations, partnerships, mergers and acquisitions in order to enhance product development process and expand the global bio-implant footprint.
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