The North America Bioimplants Market would witness market growth of 7.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Bioimplants Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $59,597.4 million by 2031. The Canada market is experiencing a CAGR of 9.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 8.8% during (2024 - 2031).
The market has experienced substantial growth as a result of technological advancements. Biotechnology, materials science, and medical engineering innovations have developed more effective, durable, and biocompatible implants. Biotechnology, for instance, has enabled the manipulation of biological systems to create materials and structures highly compatible with human tissues.
The aging population is another critical factor driving the demand for these implants. As people live longer, the prevalence of age-related conditions such as osteoarthritis, cardiovascular diseases, and dental problems increases. These conditions often necessitate the use of these implants for effective treatment and management. In addition to specific medical conditions, the overall increase in life expectancy contributes to the demand for these implants.
The growing medical tourism industry is a key factor driving the demand for these implants in cosmetic and reconstructive surgery in Mexico. Patients from the United States, Canada, and other countries are attracted to Mexico for its high-quality medical care at a fraction of the cost in their home countries. According to the Mexican Association of Plastic, Aesthetic, and Reconstructive Surgery (AMCPER), there is a significant increase in the number of cosmetic surgeries performed annually, with breast augmentation and rhinoplasty being the most popular procedures. For patients who are interested in aesthetic enhancements, Mexico is a preferred destination due to the affordability and accessibility of these implants. Hence, the increasing acceptance of cosmetic and reconstructive surgery across various nations in North America is significantly boosting the demand for these implants.
Free Valuable Insights: The Bioimplants Market is Predict to reach USD 239.2 Billion by 2031, at a CAGR of 8.0%
Based on End User, the market is segmented into Hospitals, Speciality Clinics, and Ambulatory Surgical Centers. Based on Type, the market is segmented into Orthopedic Bioimplants, Cardiovascular Bioimplants, Spinal Bioimplants, Dental Bioimplants, Ophthalmology Bioimplants, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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