Endoprosthesis Market Trends to Dominate by Fabric Genomics in Artificial Intelligence
The endoprosthesis market consists of medical devices that
are implanted inside the human body to replace missing biological structures.
Artificial joints, cardiac pacemakers, vascular grafts, and breast implants are
some common types of endoprostheses used to treat damage or degenerative
conditions in areas like joints, bones, heart valves, blood vessels, and soft
tissues. These implantable devices provide structural support, restore
functionality, and improve patients' quality of life. Endoprostheses are
biocompatible and offer advantages like durability, longevity, and resistance
from wear and tear over long-term use.
The Global Endoprosthesis Market is
estimated to be valued at US$ 26.35 Bn in 2024 and is expected to exhibit a
CAGR of 7.5% over the forecast period 2024 to 2031.
Key players operating in the endoprosthesis market are
NVIDIA Corporation, IBM, Microsoft, Fabric Genomics Inc., Verge Genomics,
MolecularMatch Inc., SOPHiA GENETICS, PrecisionLife Ltd, BenevolentAI, and Deep
Genomics.
Key Takeaways
Key players: Fabric Genomics is at the forefront of utilizing Endoprosthesis
Market Size and genomics to advance endoprosthesis design with
personalized 3D bioprinting. The company analyzes patient DNA to create
biocompatible implants with no rejection risks.
Growing demand: The rising prevalence of orthopedic disorders, cardiovascular
diseases and soft tissue injuries worldwide is fueling demand for
reconstructive endoprostheses. Additionally, the growing geriatric population
susceptible to joint damage and mobility issues is boosting market growth.
Global expansion: Major players are expanding their international presence
through partnerships, mergers and acquisitions to tap into emerging markets and
meet the growing global need for advanced prosthetic solutions. Developing
countries offer immense opportunities due to increasing healthcare investment
and medical tourism.
Market Key Trends
Artificial intelligence and machine learning are revolutionizing endoprosthesis
design and development. Companies like IBM and NVIDIA are using AI to expedite
the preclinical testing process for new implant designs. Fabric Genomics
leverages deep learning models to analyze genetic data and design
patient-matched prosthetics. Such advanced data-driven technologies ensure
implants have optimized biofunctionality and structural integrity for
individualized patient needs. AI will continue dominating endoprosthesis
innovations and fuel market expansion going forward.
Porter’s Analysis
Threat of new entrants: Low Capital requirements and stringent regulations pose
barriers for new players. Bargaining power of buyers: Large pool of providers
gives buyers a variety of options to negotiate on price and quality. Bargaining
power of suppliers: Established players have technological expertise making it
difficult for suppliers to influence prices. Threat of new substitutes: Limited
substitute options owing to specialized nature of the products. Competitive
rivalry: Strong competition exists between existing players to gain market
share and maintain leadership.
Geographical Regions
The North American region currently dominates the endoprosthesis market in
terms of value owing to presence of major players and growing geriatric
population susceptible to orthopedic disorders. Growing healthcare expenditures
and innovation further propels market growth in the region.
The Asia Pacific region is expected to exhibit highest growth over the forecast
period attributed to increasing medical tourism, rising per capita incomes,
growing prevalence of osteoporosis and musculoskeletal disorders. Initiatives
by governments in countries like India and China to strengthen healthcare
infrastructure also support market expansion.
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Author:
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