New Delhi: The global bioprosthetics market is valued at US$ 5.74 billion in 2023 and is predicted to reach US$ 16.30 billion by 2033, according to this new study by Fact.MR, a market research and competitive intelligence provider.
Bioprosthetics are made from parts taken from humans or other species’ bodies and are used as medical implants. Bioprostheses have made great strides in recent years; however, their fundamental trait remains – they degrade until they are eliminated by the host body.
A neo tissue will eventually grow in the recipient’s place of the bioprosthesis due to the biomaterial’s progressive degradation, totally replacing it over time. The ultimate goal of bioprosthetics is to induce angiogenesis, attract growth factors, and regenerate a tissue that is appropriately structured and has properties resembling those of healthy tissue in addition to the restoration of the injured area.
It is anticipated that the demand for bioprosthetics will expand rapidly due to the rising prevalence of cardiovascular disorders such as coronary and peripheral artery diseases, rheumatic heart disease, and correspondingly the desire for extended alleviation. The rate of implant rejection is significantly lower than that of synthetic implants since bioprosthetic implants are constructed of biological materials. The market for bioprosthetics is also being fuelled due to the rapidly increasing aging population and an increase in degenerative heart illnesses.
Hybrid tissue-engineered bioprostheses, which use non-biodegradable cultured tissue scaffolds, have advanced due to new technological developments and creative inventions. As an alternative to biodegradable tissue-engineered prosthetics, these hybrid tissue-engineered bioprostheses have great resistance and durability. The development of new touch-enabled bio-prosthetic technology will change this industry and enable many patients with few functional restoration alternatives to lead relatively normal lives.
Key Takeaways from Market Study
Global demand for bioprosthetics is expected to increase at a CAGR of 11% from 2023-2033.
China’s market for bioprosthetics is predicted to expand at a CAGR of 16% during the projected period.
Sales of xenografts are expected to rise at a CAGR of 11% during the forecast period.
Demand for allografts is predicted to expand at a CAGR of 10% during the next 10 years.
“Rapid developments in the healthcare industry across the world are boosting the sales of bioprosthetics,” says a Fact.MR analyst.
Leading companies in the bioprosthetics market are highly focused on developing advanced technologies to help in the treatment process without any drawbacks.
U.K.-based AorTech International Plc. is focused on the commercialization of its cutting-edge biomedical polymer technologies, parts, and medical equipment. The company is strongly focused on developing advanced medical products with high-performance technology.
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