June 17, 2024

Bioresorbable Implants Market is Estimated to Witness High Growth Owing to Rising Preference for Minimally Invasive Surgeries

Bioresorbable implants are medical devices that are made from natural or synthetic materials that are absorbed and excreted by the body over time. These implants find wide application in orthopedic fixation, cardiovascular stents, and drug delivery among others.

Market Dynamics:

The bioresorbable implants market is expected to witness significant growth over the forecast period owing to rising preference for minimally invasive surgeries and growing number of orthopedic and cardiovascular procedures. Minimally invasive surgeries reduce recovery time and hospital stays for patients compared to conventional open surgeries. Additionally, the availability of advanced bioresorbable material such as polylactic acid (PLA) and polyglycolic acid (PGA) that can be safely absorbed by the body is also fueling the demand for bioresorbable implants. Cardiovascular diseases continue to rise globally which is increasing the demand for bioresorbable cardiovascular stents. Furthermore, the increasing geriatric population prone to orthopedic disorders will also contribute to the market growth over the forecast period.

Demand for minimally invasive surgeries is driving growth in the bioresorbable implants market

The rising demand for minimally invasive surgeries is a key driver boosting the bioresorbable implants market. Minimally invasive procedures offer several advantages over traditional open surgeries such as less pain, reduced scarring, lower risk of complications and infection, shorter hospital stay, and faster recovery time. Bioresorbable implants are increasingly being used in minimally invasive surgeries as they dissolve naturally in the body over time, eliminating the need for follow-up surgery required for implant removal. This has increased their adoption rate among doctors and patients. The growing preference for minimally invasive techniques among both physicians and patients will continue to fuel demand for bioresorbable implants that help perform such surgeries.

Increasing applications of bioresorbable implants is bolstering market growth

Another major factor propelling the bioresorbable implants market is the expanding range of their applications. Initially used only for fracture fixation and drug delivery, bioresorbable implants are now increasingly employed for orthopedic, cardiovascular, and neurological applications. For instance, bioresorbable stents that dissolve after vessel healing are replacing metal stents in cardiac treatments. Their usage has also grown in areas like hernia repair, plastic surgery, soft tissue repair, and pediatrics. The ability of bioresorbable implants to treat both soft and hard tissue injuries without requiring follow-up surgery is driving their adoption across multiple clinical areas. Continuous research into developing novel bioresorbable implants suited for various medical conditions will help widen their scope of applications further.

High raw material costs pose a barrier to market expansion

One key challenge restraining the growth of the bioresorbable implants market is the high costs associated with their raw materials like polylactic acid (PLA) and polyglycolic acid (PGA). These biopolymers used to manufacture bioresorbable implants are expensive to source and process. The premium pricing of bioresorbable implants compared to conventional metallic implants also limits their widespread adoption, especially in price-sensitive developing regions. Although researchers are exploring lower-cost raw materials, bringing down production costs remains a major hurdle for market players. The high raw material prices add to the total cost of treatment involving bioresorbable implants and make them unaffordable for some patients. Overcoming this economic barrier through technological and manufacturing advancements can help boost market accessibility.

 Emerging economies present lucrative market opportunities

Emerging economies in Asia Pacific and Latin America represent attractive growth opportunities for players in the bioresorbable implants market. These regions are witnessing rapid economic development, rising healthcare expenditures, and growing patient affordability for advanced medical treatments. At the same time, the increasing burden of chronic diseases and trauma injuries along with a large untapped patient population make countries like India, China, Brazil, and Mexico promising markets. Efforts must be made by manufacturers to customize their offerings to suit the price sensitivities of emerging markets and boost product adoption. Partnerships with local medical device distributors can help increase product awareness and sales channels in developing countries. With their rising healthcare infrastructures and growing medical tourism industries, emerging nations offer immense potential for bioresorbable implants companies seeking future geographic expansion.

Development of 3D-printed implants is a notable market trend

One of the key trends gaining momentum in the bioresorbable implants market is the rising application of 3D printing technologies. 3D printing allows for better design customization of implants to individual patient anatomy compared to traditional manufacturing methods. Implants can be precisely made to fit any bone or tissue defect. Researchers are investigating the use of 3D printing techniques like selective laser sintering and fused deposition modeling for fabricating personalized bioresorbable implants of complex shapes and cavities. This paves way for improved postoperative outcomes. Major players are investing in developing advanced 3D bio-printing technologies using patient-specific MRIs and CT scans to fabricate implants. The availability of 3D-printed, customized bioresorbable implants tailored for small patient demographics is expected to revolutionize future implant design.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it