Pune, India -- (SBWIRE) -- 12/09/2015 -- The report "Bio-Implants Market - by Type (Cardiovascular, Spine, Orthopedics, Trauma, Dental), by ROA (Surgical/Injectable), by Origin (Allo/Auto/Xenograft, Synthetic) & Materials (Ceramics, Biomaterial, Alloys, Polymers) - Global Trends &, Forecasts till 2017", the global bio-implants market is estimated to be $94.1 billion in 2012 and is poised to grow at a CAGR of 7.3% to reach $134.3 Billion by 2017.
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This report studies the global bio-implants market with forecast from 2012 to 2017.
Bio-implants are defined as bioengineered products, employed in tissues or in human living cells with the assistance of active agents or synthetic constructs used to reproduce certain physiological functions or to treat the cause of the disease.
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The bio-implants market has brought about a paradigm shift in the medical device industry with more demand for biological implants in cardiology, vascular therapy, orthopaedics, trauma, spine, dental, and wound care divisions. Certain bioactive implants such as drug eluting stents, hormonal implants, and implantable drug pumps also form part of this market.
The global bio-implants market was valued at $94.1 billion in the year 2012; North America was the largest market, followed by Europe, and Asia. The U.S. market is expected to face a slump in the coming years due to austerity measures taken by the Federal Government and rise in taxation caused due to the economic crisis of 2008. Uncertainty also prevails in the European region with the Euro crisis; hence, growth is expected to be minimal in this region for the next five years. Asia, however, will showcase higher growth mainly due to large investments from foreign firms and government funding.
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The major players in this market are Stryker Corporation (U.S.), Synthes (U.S.), Boston Scientific Corporation (U.S.), Biomet, Inc. (U.S.), Smith and Nephew (U.K.), Medtronic (U.S.), St. Jude Medical, Inc. (U.S.), and Tornier N.V. (The Netherlands).
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