23 January 2020
Visiongain’s new report the Osseointegration Implants Market Report 2020-2030: Forecasts by End Use (Ambulatory Surgical Centers, Hospitals, Dental Clinics), By Product (Dental, Knee, Hip, Spinal Implants) plus analysis of leading companies indicates that the global osseointegration implants market will grow at a CAGR over 7.0% by 2030.
The growth in the geriatric population, the troubling rise in road accidents and the increasing adoption of minimally invasive operations are among the factors expected to drive the global market. The market is comparatively established in developed economies like France, Germany, the U.S., and Australia due to the strong presence of leading market players in these countries and high demand for such goods. Contrary to this, as the adoption rate of these goods is relatively moderate, the demand in developing countries in Asia and Latin America offers strong growth opportunities. These markets are driven primarily by rapid economic growth and higher disposable income. In these rapidly developing markets, an increasing number of manufacturing companies have invested and active pricing and distribution strategies are pursued to capitalize on the opportunities present in these regions. -consumer awareness, increasing medical tourism, and supporting government programs for the underserved population are also driving the market in emerging economies. In contrast, smoking and drinking habits have increased, which has significantly contributed to the incidence of disease. Indirectly, this will have a positive impact on sales of goods.
The market is divided into dental, knee, hip and spinal implants depending on the material. In terms of revenue, the knee implants segment had the dominant market share. Growth in knee replacements can be due to increased prevalence of osteoarthritis and rheumatoid arthritis in geriatric populations, as well as increased cases of joint replacement surgery. According to data published in 2016 by the American Joint Replacement Registry, in North America alone, about 85.0 percent of cases of osteoarthritis undergo knee replacement surgery each year. The spinal implants segment is anticipated to gain significant traction over the forecast period and held over 20.0% of the total market. The development of this group is responsible for the increased incidence of obesity and degenerative spinal conditions. In 2015, in the United States alone, some 288,500 people were living with spinal cord injuries. According to the World Health Organization estimates.
North America dominated the global market, which accounted for more than half of that year's total revenue. It is predicted that this trend will continue over the forecast period, with the region retaining its lead by 2030. Growth can be attributed to advanced healthcare technology, increased healthcare spending and increased awareness of minimally invasive operations. Over the forecast period, the Asia Pacific market is expected to experience the highest CAGR of over 8.0 percent. This growth can be attributed to the presence of a massive pool of patients, coupled with a high proportion of older people seeking treatment options through private hospitals or government-sponsored schemes.
In addition, favorable government policies to transform healthcare practices in individual countries, especially in rural areas, are expected to boost the Asia Pacific market. Such market players are pursuing various strategies such as mergers, acquisitions, partnerships and the introduction of new products to retain their position in the industry and gain a stronger foothold. Integrum SE launched a groundbreaking implant system for OPRA in April 2018. The company has announced that the service will initially only be available in London and will be sold by London International Patient Services (LIPS), an international patient treatment organization based in the United Kingdom.
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