The global bioresorbable implants market is estimated to be valued at US$ 5,543.1 million in 2017 and is expected to exhibit a CAGR of 7.7% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Bioresorbable implants are medical devices that are designed to degrade and be absorbed by the body over time. They offer several benefits such as reduced risk of infection, elimination of the need for removal surgeries, and better patient compliance. These implants find applications in orthopedics, cardiovascular, and other medical specialties.

In orthopedics, bioresorbable implants are used for the treatment of fractures, ligament injuries, and joint replacements. They provide temporary support to the injured bone or tissue and gradually dissolve, allowing for natural healing and regeneration. This market is witnessing significant growth due to the increased adoption of bioresorbable implants over traditional metallic implants.

B) Market Dynamics:

The global bioresorbable implants market is driven by two main factors: technological advancements and the increasing prevalence of orthopedic disorders.

Technological advancements have led to the development of advanced bioresorbable materials that offer better mechanical strength, improved tissue regeneration, and controlled degradation rates. The use of 3D printing technology has also enabled the production of customized implants tailored to the patient's specific needs.

The increasing prevalence of orthopedic disorders, such as osteoporosis, osteoarthritis, and sports injuries, is also driving the demand for bioresorbable implants. According to the World Health Organization, the global incidence of osteoarthritis is expected to increase by 50% by 2050, resulting in a substantial increase in the demand for orthopedic treatments and implants.

C) SWOT Analysis:

Strengths:
1. Enhanced biocompatibility: Bioresorbable implants offer excellent biocompatibility, reducing the risk of complications and rejection.
2. Elimination of removal surgeries: Unlike traditional implants, bioresorbable implants eliminate the need for removal surgeries, reducing patient discomfort and healthcare costs.

Weaknesses:
1. High cost: Bioresorbable implants are often more expensive than traditional metallic implants, limiting their adoption in some regions or healthcare systems.
2. Limited mechanical strength: Some bioresorbable materials may have lower mechanical strength compared to traditional implants, limiting their application in certain orthopedic procedures.

Opportunities:
1. Emerging markets: The growing healthcare infrastructure and rising disposable incomes in emerging markets offer significant opportunities for market growth.
2. Technological advancements: Continued research and development in bioresorbable materials and manufacturing processes could lead to the development of more advanced and cost-effective implants.

Threats:
1. Reimbursement challenges: Limited insurance coverage or reimbursement policies for bioresorbable implants may hinder market growth, especially in developing countries.
2. Regulatory challenges: Strict regulatory requirements for the approval and commercialization of bioresorbable implants may pose challenges for market players.

D) Key Takeaways:

In terms of market size, the global Bioresorbable Implants Market Growth  is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period. This growth can be attributed to the increasing prevalence of orthopedic disorders and technological advancements in bioresorbable materials.

Regionally, North America is expected to dominate the market due to the presence of a well-established healthcare infrastructure, high adoption of advanced medical technologies, and a large patient pool. However, the Asia Pacific region is expected to witness the fastest growth, driven by increasing healthcare expenditure, rising disposable incomes, and a growing geriatric population.

Key players operating in the global bioresorbable implants market include Bioretec Ltd., CONMED Corporation, Depuy Synthes, Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew Plc., and Boston Scientific Corporation. These players are focusing on strategic partnerships, mergers and acquisitions, and product innovations to gain a competitive advantage in the market.

In conclusion, the global bioresorbable implants market is expected to experience significant growth in the coming years. Technological advancements and the increasing prevalence of orthopedic disorders are the key driving factors behind this growth. However, challenges such as high costs and regulatory hurdles need to be addressed to fully realize the potential of bioresorbable implants in improving patient outcomes and quality of life.