Bioimplants have improved a lot over the last few years. They not only help improve the functioning of any body organ but support a damaged body organ.
Bioimplants Industry Overview:
Bioimplants have improved a lot over the last few years. They not only help improve the functioning of any body organ but support a damaged body organ. Currently, there are bioimplants that can electrically stimulate the brain. Moreover, with the use of 3D printing and artificial intelligence, personalized bioimplants are generated.
According to Allied Market Research, the global bioimplants market is expected to reach $124.15 billion by 2023, growing at a CAGR of 6.9% from 2017 to 2023. Rise in the elderly population and prevalence of chronic diseases, surge in government focus on funding R&D initiatives, and better insurance and reimbursement have boosted the market growth. Currently, the use of bioimplants in the brain is the most exciting field where several companies have invested heavily.
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Top Leading Players:
- Abbott Laboratories (St. Jude Medical, Inc.)
- Boston Scientific Corporation
- Dentsply Sirona Inc
- Johnson & Johnson (Ethicon, Inc.)
- Medtronic plc
- Smith & Nephew plc
- Stryker Corporation
- Victrex Plc. (Invibio Ltd.)
- Wright Medical Group N.V.
- Zimmer Biomet Holdings Inc
Covid-19 Scenario-
Here, it’s worth mentioning that the outbreak of the Covid-19 pandemic gave way to adjournment of the majority of Bioimplants across the world, which in turn resulted into a steep decline in demand for Bioimplants, thereby impacting the market negatively, especially during the initial period. However, as the global situation is getting back to normalcy, the market is also projected to revive soon.
Bioimplants for Brain Stimuli:
The issues in neuroengineering have been studied for years. The differences between electronic hardware and the human brain make it difficult to develop bioimplants for the brain. Moreover, there comes a real risk of implanting an electro-mechanical device in soft organic tissue; even a difference of millimeters could cause serious damage to the brain. However, bioimplants are key to dealing with chronic illnesses such as spinal damage, Parkinson’s disease, and retinal disorders.
Apart from this, bioimplants are useful in mental health treatments. There are still no definite answers to mood disorders, depression, and other mental illnesses. Treatments such as electroconvulsive therapy (ECT) and transcranial magnetic stimulation (TMS) can help with mood disorders with little known side effects. Thus, the future of bioimplants lies with neuroimplants and neuroprosthetics.
The bioimplants are a way to improve brain-to-brain communication and develop technologies that help mitigate injuries. For instance, new research from Rice University talks about a future of highly improved human-machine interfacing that could expand the capabilities of soldiers and first responders. Such research and an increase in funding for R&D for exploring the concepts of human machines would be the future of bioimplants. For now, these technologies may seem like a script for a science-fiction movie but soon would be reality.
The tremendous advancements in technology have improved the understanding of the brain and how bioimplants can improve overall lifestyle. The advent of 3D printing has allowed to development of personalized bioimplant which reduces risks during surgeries and improves their longevity. Some researchers have been exploring the area where bioimplants bring augmented reality straight to the brain. What’s more, with the innovations in bioimplants and augmented reality, this vision seems plausible.