According to a new report, published by KBV research, The Global Bioimplants Market size is expected to reach $239.2 billion by 2031, rising at a market growth of 8.0% CAGR during the forecast period.
The bioimplants market is one of the most dynamic and rapidly growing healthcare and medical device industry sectors. Bioimplants, which are medical devices or tissues placed inside or on the body's surface, serve a myriad of purposes, including the replacement or support of damaged biological structures, enhancement of biological functions, and improvement of the aesthetics of the body.
The Hospitals segment led the Global Bioimplants Market by End User in 2023; thereby, achieving a market value of $111.9 billion by 2031. Hospitals are the primary healthcare providers for various medical conditions and complex surgical procedures. They are equipped with advanced medical infrastructure, skilled healthcare professionals, and comprehensive diagnostic and treatment capabilities, making them the preferred choice for bioimplant surgeries.
The Orthopedic Bioimplants segment is growing at a CAGR of 7.3 % during the forecast period. Orthopedic bioimplants are extensively used to treat musculoskeletal issues, including joint disorders, fractures, and spinal conditions. The high prevalence of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis among the aging population has significantly driven the demand for orthopedic bioimplants.
Full Report: https://www.kbvresearch.com/bioimplants-market/
The North America region dominated the Global Bioimplants Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $83 billion by 2031. The Europe region is anticipated to grow at a CAGR of 7.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 8.8% during (2024 - 2031).
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