The global bio-implants market is set to grow in the next five years, according to a report by Persistence Market Research.
Here are five key trends in the market:
1. Growth of the aging population is one of the key factors driving the bio-implants market owing to the fact that aged people are more susceptible to chronic diseases.
2. North America has the largest market for bio-implants, followed by Europe.
3. The bio-implants market in Asia is expected to experience a high growth rate in the next few years due to developing healthcare infrastructures, increasing prevalence of chronic diseases and rising disposable income.
4. However, high cost of implants and reimbursement issues are some of the factors that inhibit the growth of the market.
5. Major players in the market include Abbott Laboratories, Biomet, Boston Scientific, Endo Health Solutions, Orthofix International, Stryker and Smith & Nephew.
6. Increasing number of mergers and acquisitions as well as rising number of collaborations and partnerships are some of the trends observed among major players in the market.
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