The biological implant market potentially plays a huge role in medical treatment going forward, according to a MedGadget report.
Biological implants help replace or stabilize injured tissue and are used in non-union repair, fractures, lens prosthesis, total joint replacements, ocular implants, soft tissue repair, cochlear implants and spinal reconstruction.
Here are 10 things to know about the market:
1. The major challenge for biological implant use is their ability to stimulate tissue regeneration, which is of greater scientific interest and constitutes a key expanding field.
2. Biologic implants are rapidly entering the market, but they're being held-up by FDA regulations and reporting adverse events.
3. The market is driven by increasing cases of traumatic injury, including serious bone damage and internal bleeding. There are more traffic accidents and sports injuries in the United States, and in India, people use two-wheelers which makes them vulnerable to accidents.
4. North America is the anticipated market leader, with the largest market for biological implants due to increases in orthopedic procedures, rise in obesity, rise in road accidents and the introduction of technologically advanced products.
5. North America also could be a market for advanced products manufactured through innovation and transforming biomaterials.
6. Europe is pegged as the second largest market due to a rising demand for biologic implants, especially for orthopedic and cardiovascular applications.
7. The emerging economies in the Asia Pacific and Latin America have huge potential for the biological implants market due to population increasing and a high unmet medical need. There are also healthcare-related customer expectations from better economic conditions with higher per capita and disposable incomes.
8. The uncertain economic situations in the United States and Europe is compelling manufacturers to explore potential emerging markets through acquisitions and collaborations.