Bone Replacement Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3932
Bone Replacement Market size is projected to experience rapid growth from 2019 to 2025.
Increasing rate of road accident will stimulate growth of global bone replacement business. According to “Association for Safe International Road Travel” about 20 to 50 million people across the globe suffer from injuries such as fracture and bone dislocation annually. Thus, growing rate of road accidents will escalate bone replacement business in the forthcoming years.
Growing rates of geriatric population will foster global bone replacement market growth. As per United Nations (UN) estimates, by 2050, the total number of geriatric population will reach 2.1 billion. Geriatric population is more prone towards bone related disorder leading to higher demand of bone replacement surgery. Thus, growing geriatric population will fuel the market growth in upcoming years.
Increasing rates of patients associated with family history of osteoporosis will stimulate growth of bone replacement business. According to International Osteoporosis Foundation, globally, more than 8.9 million fractures occur due to osteoporosis every year, leading to higher demand for bone replacement surgery. Thus, growing prevalence osteoporosis will significantly boost bone replacement market during the projected timeframe.
However, high cost of bone replacement procedures and medical devices will negatively impact bone replacement business. High cost of surgery is not affordable by every patient which act as negative factor. Thus, high cost of bone replacement procedures and medical device will negatively impact growth of bone replacement business in forthcoming years.
Allograft bone replacement category will hold significant revenue size over the forecast years. Allograft technique have certain advantages over auto-graft technique. It eliminates two procedures of bone replacement and is highly affordable for patient. Moreover, allograft method eliminates post-operative complications, thus leading to high adoption rate. Aforementioned factors will stimulate segment growth in the future.
Global knee replacement segment will grow at immense pace over the projected timeframe. Growing prevalence of arthritis coupled with increasing knee injuries will boost demand for knee replacement segment. Additionally, growing geriatric population will further propel knee replacement surgeries, thus fostering market growth.
Ambulatory surgery centers will foresee significant growth in in the future. Ambulatory surgery centers are preferred by patient for bone replacement surgery because they are cost effective and require short period of time for surgery. Additionally, ambulatory surgery centers possess less risk of infections. Thus, in forthcoming years ambulatory surgery centers will possess outstanding market share in bone replacement surgery market.
U.S. bone replacement market will show sufficient growth in the future due to presence of large portion of geriatric population. According to U.S. Census Bureau, U.S. possess a huge population around 47.8 million with age above 60 years and the number is projected to reach 98.2 million by 2060. Geriatric population is more prone towards bone disorders, leading to higher demand of bone replacement surgery resulting in lucrative business growth opportunity in the future.
India bone replacement market will foresee immense growth due to prevalence of knee and hip arthritis in population. As per National Health Portal of India, about 15% of the Indian population is affected by arthritis. Additionally, growing geriatric population in India will further lead to massive growth of bone replacement in forthcoming years.
Some of the major market players involved in the global bone replacement are DJO, LLC, Stryker, Zimmer Biomet, NuVasive, Medtronic, Ossur among others. Firms are adopting business expansion strategies such as acquisitions, merger and collaborations to increase their market footprint. For instance, in November 2018, Stryker announced acquisition of K2M Group Holdings, Inc. to expand orthopedic and bone replacement business.
Bone replacement market, by material, 2014-2025 (USD Million)
- Demineralize bone matrix (DBM)
- Bone morphogenetic protein (BMP)
Bone replacement market, by type, 2014-2025 (USD Million)
- Total joint replacement
- Hybrid total hip implant
- Fixed bearing hip implant
- Total hip implant
- Mobile bearing total hip implant
- Total knee replacement
- Partial knee replacement
Bone replacement market, by extremities, 2014-2025 (USD Million)
- Upper extremities
- Elbow replacement
- Shoulder replacement
- Wrist & hand replacement
- Lower extremities
- Ankle and foot replacement
- Hip & Pelvic
- Lower Leg
Bone replacement market, by end-use, 2014-2025 (USD Million)
- Specialty Center
- Ambulatory surgical center
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- DJO, LLC
- Zimmer Biomet
- Smith & Nephew
- Medtronic (Spine Division)
- Wright Medical Group N.V.
- Global Medical Inc.
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