Bone replacement is a procedure of replacing or fixing bones that are damaged due to trauma, calcification, and resorption.
Portland, OR -- (SBWIRE) -- 02/02/2018 -- The bone replacement procedure makes use of grafts, synthetic materials, and other biologics. The procedure involves placement of the graft in the targeted area to stimulate the regrowth of bone tissue and fill bone gaps. The need of bone replacement or reconstruction is increasing continuously, owing to rise in traumatic injuries and growth in geriatric population. This is evident from the statistics provided by NCBI, which states that in 2015, around 7 million people in America underwent total hip or knee replacement due to arthritis and road accidents. Moreover, as per CDC, in 2016, about 24.5% women aged above 65 years were suffering from osteoporosis. These statistics clearly showcase the growing need for bone replacement in the current scenario.
The factors that drive the growth of bone replacement market are rise in number of road accidents (minimum more than 1.25 million each year), growth in geriatric population, and technological advancements in bone graft devices. However, high cost of bone replacement surgeries and ethical issues related to bone grafting procedures act as major restraints of the market. Presence of large patient pool and increase in medical needs provide lucrative opportunities for the growth of the market. According to the WHO, the geriatric population in the developing countries is projected to increase by 250% between 2010 and 2050 as compared to 71% in the developed countries. This is expected to increase the patient population in these regions, thereby fueling the market growth.
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The report segments the global bone replacement market on the basis of type, materials, age group, and geography. Based on type, the market is categorized into hip, knee, and extremities. The hip segment is further divided into fixed bearing implants, hybrid total hip implants, mobile bearing total hip implants, and total hip implant fixation (cemented or cementless). The knee segment is bifurcated into partial knee replacement (PKR) and total knee replacement (TKR). The extremities segment is classified into an upper extremity (shoulder, elbow, hand & wrist replacement) and lower extremity (foot and ankle replacements). In terms of material, the market is divided into allografts, autografts, synthetic materials, bone morphogenic proteins (BMPs), demineralized bone matrix (DBM), viscosupplements (hyaluronic acid (HA)), bone growth stimulators, and others. By age group, it is classified into <45, 45-64, and 65+. Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
The key players of the bone replacement market are undergoing product developments and acquisitions to strengthen the foothold in the global market. Rise in adoption of bone grafts and its substitutes for medical applications, owing to increase in musculoskeletal disorders incidences is the prime reason behind the adoption of this strategy. For instance, in 2017 Orthofix International N.V. launched CervicalStim and SpinalStim bone growth stimulators, which are used to treat osteoarthritis of the knee and spinal fusion.
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Major players operating in the market include Zimmer Biomet, Johnson & Jonhson (Depuy Synthes), Stryker Corporation, Smith & Nephew Plc., Wright Medical Group N.V., Medtronic Plc., Integra Healthcare Equipment, Inc., Xtant Medical, B. Braun Melsungen AG, and Baxter International Inc. The other players of the market include Berkeley Advanced Biomaterials Inc., Arthrex, Inc., JRI Orthopaedics Ltd., Exactech, Inc., Baumer India Pvt. Ltd., Beijing AKEC Medical Co., Ltd., United Orthopedic Corp., Japan MDM, Inc., and KYOCERA Medical Corporation.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global bone replacement market.
- In-depth analysis has been done in this report by constructing market estimations for the key market segments between 2016 and 2023.
- Comprehensive analysis of factors that drive and restrict the growth of the global bone replacement market is provided.
- Key market players within the bone replacement market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global bone replacement market.