Osseointegration Implants Market Overview
The soaring number of dental implant surgeries and growing prevalence of traumatic injuries are also expected to accelerate the osseointegration implants market at a CAGR of 4.0% during the forecast period 2018–2023. The market revenue stood at $9.9 billion in 2017 and it is projected to reach $12.5 billion by 2023. In recent years, the surging use of titanium in osseointegration implants and increasing research on mini dental implants have become prominent market trends.
The NSCISC estimates that the U.S. is home to nearly 296,000 spinal cord injury (SCI) patients. As per the organization, approximately 17,900 new SCI cases are recorded in the country every year. Likewise, the Australian Institute of Health and Welfare (AIHW) states that over 15,000 Australians suffer from an SCI at any given time. The surging prevalence of SCI. On account of minor and fatal injuries caused during accidents or athletic activities, will facilitate the adoption of osseointegration implants in the forthcoming years.
Osseointegration Implants Market Business Strategies
Osseointegration implants, such as bone-anchored prostheses, including auditory implants, spinal fusion implants. Upper and lower limbs, and dental implants, including abutment, crown, and implant, are made of ceramic biomaterials. Metallic biomaterials, and polymeric biomaterials. In recent years, metallic biomaterials-based osseointegration implants have been adopted in the highest volume because they are easy to sterilize and process and have better finishing than other materials. At present times, hospitals are the largest users of such implants as they perform the highest number of spinal fusion surgeries.
Currently, the prominent players of the osseointegration implants market are focusing on acquisitions and product launches to gain a competitive edge. For instance, in December 2017, The Straumann Group acquired Same Day Solutions (SDS). A Lisbon-based dental implants distribution company, to share its product portfolio with the latter and increase its sales in Portugal. The other major players opting for such strategic measures are DePuy Synthes Products Inc., Zimmer Biomet Holdings Inc., Cochlear Ltd., Danaher Corporation, NuVasive Inc., and Stryker Corporation.
Osseointegration Implants Market Trends
According to P&S Intelligence, the North American region was the dominant user of osseointegration implants in the recent past. On account of the surging geriatric population, growing prevalence of spinal disorders. Such as stenosis, increasing incidence of tooth loss and amputations. Mounting healthcare expenditure in the region. For instance, Urban Institute predicts that the number of Americans aged 65 years and above will reach around 80 million by 2040. Likewise, the Government of Canada forecasts that the country will be home to over 9.5 million people aged 65 years or older by 2030.
Whereas, the APAC osseointegration implants market is expected to showcase the fastest growth during the forecast period. Owing to the growing disposable income of people and increasing research and development (R&D) activities in the region. Additionally, the flourishing dental tourism industry in India and Thailand will also augment the demand for osseointegration implants in APAC. Besides, the surging focus of technologically advanced countries. Such as Australia, on the development of implantable procedures for lower and upper limb amputees will also complement the market growth in the region.
Osseointegration Implants Market Competitive Landscape
Therefore, the rising incidence of SCIs and burgeoning number of dental implant surgeries will facilitate the adoption of osseointegration implants in the foreseeable future.
The growing prevalence of spinal cord injuries (SCIs), increasing number of dental implant surgeries. Surging cases of trauma are expected to drive the osseointegration implants market at a CAGR of 4.0% during the forecast period (2018–2023). The market revenue stood at $9.9 billion in 2017 and it is projected to reach $12.5 billion by 2023. Moreover, the soaring cases of hearing loss in the geriatric population. Rising investments being made in osseointegration research will also facilitate the market growth in the foreseeable future.
One of the key growth drivers of the osseointegration implants market is the growing incidence of SCIs. For instance, according to the National Spinal Cord Injury Statistical Center (NSCISS). The United States records around 17,900 new SCI cases each year. In 2020, approximately 296,000 people were suffering from SCI in the country. Most of these injuries are caused by road accidents. Owing to this reason, governments and other private organizations in several countries are providing reimbursement support for surgeries.
Osseointegration Implants Market Drivers
In recent years, the increasing use of titanium in osseointegration implants, surging research on mini dental implants. Escalating product launches have become key trends in the market. Keeping up with these trends, major market players are increasingly focusing on expanding their product portfolio with new and advanced products to gain a competitive edge in the market. For example, in September 2017, Henry Schein Inc. introduced the Dental Ratio implant system and procured exclusive distribution rights in the U.K. for this product.
The material type segment of the osseointegration implants market is categorized into polymeric biomaterials. Metallic biomaterials, ceramic biomaterials, and others. In 2017. The metallic biomaterials category generated the highest revenue, due to the biochemical properties of such materials. As compared to other implants, metallic implants offer better finishing and are easier to sterilize and process. Whereas, the ceramic biomaterials category is expected to witness the fastest growth throughout the forecast years. Due to the biocompatibility, aesthetic appearance, and tribological properties of such materials.
Osseointegration Implants Market Share Analysis
According to P&S Intelligence, North America held the largest share in the osseointegration implants market in 2017. Primarily on account of the surging geriatric population, increasing number of amputations and tooth loss. The soaring incidence of spinal disorders such as stenosis, and rising healthcare spending in the region. The United States Census Bureau states that, by 2050. North America will be home to around 21.4% of the global population of people in the age group of 65 years and above.
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