Market Research Report
Bone Grafts and Substitutes Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||925218|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Bone Grafts and Substitutes Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The major factors driving the growth of the market studied include the rising number of road injuries and joint disorders. There are various bone and joint disorders affecting the body's musculoskeletal system, which include arthritis, osteoarthritis, rheumatoid arthritis, osteoporosis, and fractures. Arthritis is the leading cause of disability among adults in the United States. Almost 50 million people in the United States experience some type of arthritis.
According to the data from the World Population Prospects: The 2017 Revision, the number of older people (those aged 60 years or above) is expected to more than double by 2050, rising from 962 million in 2017 to 2.1 billion in 2050, and 3.1 billion in 2100. Globally, the population aged 60 years or above is registering faster growth than all younger age groups. The aging populace is more prone to musculoskeletal disorders, such as arthritis and osteoporosis. According to the State of Musculoskeletal Health 2019 report, in the United Kingdom, around 8.75 million people aged between 45 years and over (33%) sought treatment for osteoarthritis. The knee is the most common site in the body for osteoarthritis, followed by the hip and hands/wrists.
Hence, due to the growing burden of joint disorders, there is an increasing demand for the bone graft and substitutes.
Joint Reconstruction Area of Application is Poised to Grow Rapidly Over the Forecast Period
The major factors expected to drive the growth of the market studied are the rising number of cases of joint disorders and the increasing number of surgeries across the world. Joint reconstruction is a surgery performed for reconstructing the architecture of a joint for restoring its functions. Some of the joint reconstruction procedures are found to be the total hip replacement, total knee replacement, and the anterior cruciate ligament.
As per the NIH, it is expected that, by the end of 2030, around 67 million people may be suffering from osteoarthritis in the United States. This, in turn, is expected to increase the adoption of joint reconstruction. Furthermore, according to the National Joint Registry in 2017, it was estimated that approximately 160,000 total hip and knee replacement procedures are performed each year, in England and Wales. The American Academy of Orthopaedic Surgeons (AAOS), in 2015, estimated that knee and hip replacement dominated the joint replacement procedures. Hence, with the aforementioned statistics, it is evident that an increasing number of replacement surgeries are taking place across the world, with the increasing usage of bone grafts and substitutes.
United States Holds the Largest Share of Market Studied
The United States accounts for a major share in the market studied, owing to the increasing incidences of sports injuries, joint disorders, rapid adoption of advanced technology, and improved healthcare system, along with the reimbursement scenario. According to the US Arthritis Foundation, arthritis is the leading cause of disability among adults in the country. By conservative estimates, about 54 million adults have been diagnosed with arthritis and almost 300,000 children have been suffering from arthritis or a rheumatic condition.
Thus, considering the rising incidences of joint disorders and increasing technological advancements, the US bone grafts and substitutes market is expected to grow rapidly over the forecast period.
The market studied is moderately competitive and several local, as well as international companies, are present in the market. There is a rising technological development in the field of bone grafts and substitutes. For instance, in January 2019, one of the market players, Bioventus, announced the launch of OSTEOMATRIX+, its next-generation biphasic bone graft for use in bone remodeling in a variety of orthopedic and spine applications.