Global Bioresorbable Implants Market, by Material Type (Metallic and Polymer), by Application (Orthopedic, Cardiovascular, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 5,543.1 million in 2017, and is projected to exhibit a CAGR of 7.7.% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Increasing research and development by market players to augment the market growth
Key players in the market are focused on research and development in order to develop novel products to address the critical unmet needs of patients. For instance, EXCEL-II biodegradable polymer sirolimus-eluting stent developed by JW Medical Systems Ltd is under study and estimated to complete study in June 2019.
Similarly, BuMA Supreme DES and Xience or Promus Drug Eluting Stents developed by Nova Vascular LLC is under study and estimated to complete study in June 2023. Moreover, increase in geriatric population is expected to rise incidences of osteoarthritis and osteoporosis, which in turn is expected to boost the market growth. According to National Center for Biotechnology Information (NCBI), report published on August 2017, estimated knee osteoarthritis cause around 80% of the disease total burden and affects around 19% of Americans adults age 45 years and above.
Browse 25 Market Data Tables and 27 Figures spread through 169 Pages and in-depth TOC on ‘Bioresorbable Implants Market’- Global Forecast to 2026, by Material Type (Metallic and Polymer), by Application (Orthopedic, Cardiovascular, and Others), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players in the market are focused on adopting strategies such as mergers and acquisitions to enhance their product portfolio. For instance, in November 2016, Stryker Corporation entered into a collaboration agreement with Indo UK Institute of Health's (IUIH) Medicity Program, to serve as its business partner in the orthopedic areas of hip, knee, and trauma products and services.
Key Takeaways of the Bioresorbable Implants Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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