BIORESORBABLE IMPLANTS MARKET ANALYSIS

The high cost of bioresorbable implants as compared to traditional metal implants can hamper its widespread adoption and  bioresorbable implants market growth. Bioresorbable implants are made from polymers that slowly dissolve or degrade inside the body over time after surgery. While this provides significant advantages like eliminating the need for implant removal surgery, the specialized materials and manufacturing processes increases its costs. For example, bioresorbable fixation screws and plates used in orthopedic fractures and surgeries currently cost 2-3 times more than their metallic counterparts. The additional R&D expenditures required to customize bioresorption times and mechanical properties of different implants also contribute to high prices. This premium pricing puts bioresorbable implants out of reach for many patients and healthcare providers, especially in developing regions with constrained medical budgets. In 2020, according to the OECD report, about 30% of the population in developing countries lacks sufficient access to even basic surgical and diagnostic services due to high costs. Unless prices of bioresorbable implants come down significantly, this affordability barrier will remain a major handicap for companies trying to expand sales and market reach. Even in developed countries with universal healthcare like Canada, restrictions are imposed on funding for new medical devices and technologies until their long-term cost-effectiveness and benefits over standard options are proven. This precautionary approach delays commercialization and large-scale uptake of innovative but relatively costlier products like bioresorbable implants.

Market Opportunities: Increasing demand for minimally invasive surgeries

Rising demand for minimally invasive surgeries can offer growth opportunities as it provides significant benefits over traditional open surgeries such as less pain, fewer complications, smaller scars and shorter hospital stay. Minimally invasive procedures involve usage of equipment like guides, catheters and implants inserted through small incisions rather than through a large incision. This has created a huge opportunity for bioresorbable implants as these provide advantages over conventional metal implants used in such surgeries.

Bioresorbable implants behave similarly to natural bone and gradually resorb in the body as the surgical site naturally heals, thus, eliminating the need for subsequent surgery to remove the implant. This automatically solves compliance issues related to implant removal. As per a study published by National Health Service U.K., an estimated 20% of patients requiring implant removal refuse the additional surgery due to fears of re-operation or lack of time. With increased usage of bioresorbable implants, such compliance-related problems can be avoided. The temporary nature of bioresorbable implants also makes them an attractive option for pediatric population who might require re-operations as these grow which can be challenging with permanent metallic implants.