The global bone replacement market was valued at $14,318.10 million in 2020, and is projected to reach $ 25,208.50 million by 2030 registering a CAGR of 5.90% from 2021 to 2030.
Bone replacement is a surgical procedure that replaces missing bone in order to repair bone fractures that are very complex, pose a significant health risk to the patient, or fail to heal properly. The bone replacement procedure makes use of grafts, synthetic materials, and other biologics. Furthermore, some small or acute fractures can be cured without bone replacement, but the risk is greater for large fractures like complex fractures. Bone generally has the ability to regenerate completely but requires a very small fracture space or some sort of scaffold to do so.
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. Furthermore, increasing rates of patients associated with family history of osteoporosis will stimulate growth of bone replacement business. 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.
Knee replacement segment will grow at immense pace over the forecast period, owing to increase in 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 propels the market growth.
Based on material, the allografts segment is anticipated to become the fastest-growing segment during the forecast duration. Currently, there is an increase in the demand for allografts primarily due to their exclusive characteristics such as they help reduce pain, restore mobility and may also help patients regain their normal functions. Allograft differs from autografts in a manner that these are derived from an individual other than the recipient of the graft. These can also be used as a substitute to autograft, as these exhibit higher osteoconductive properties.
North America is projected to account for a major share of the global bone replacement market during the forecast period. The market in the region is anticipated grow in future, owing 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.
The global bone replacement market is segmented on the basis of product type, material, age group, and region. 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 upper extremities (shoulder, elbow, hand & wrist replacement) and lower extremities (foot and ankle replacements). In terms of material, the market is divided into allografts, autografts, synthetic materials, and bone morphogenic proteins (BMPs). By age group, it is classified into < 45 years, 45-64 years, and 65+ years. Region-wise the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
Bone replacement is a surgical procedure that replaces missing bone in order to repair bone fractures that are very complex, pose a significant health risk to the patient, or fail to heal properly. The bone replacement procedure makes use of grafts, synthetic materials, and other biologics. Furthermore, some small or acute fractures can be cured without bone replacement, but the risk is greater for large fractures like complex fractures. Bone generally has the ability to regenerate completely but requires a very small fracture space or some sort of scaffold to do so.
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. Furthermore, increasing rates of patients associated with family history of osteoporosis will stimulate growth of bone replacement business. 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.
Knee replacement segment will grow at immense pace over the forecast period, owing to increase in 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 propels the market growth.
Based on material, the allografts segment is anticipated to become the fastest-growing segment during the forecast duration. Currently, there is an increase in the demand for allografts primarily due to their exclusive characteristics such as they help reduce pain, restore mobility and may also help patients regain their normal functions. Allograft differs from autografts in a manner that these are derived from an individual other than the recipient of the graft. These can also be used as a substitute to autograft, as these exhibit higher osteoconductive properties.
North America is projected to account for a major share of the global bone replacement market during the forecast period. The market in the region is anticipated grow in future, owing 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.
The global bone replacement market is segmented on the basis of product type, material, age group, and region. 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 upper extremities (shoulder, elbow, hand & wrist replacement) and lower extremities (foot and ankle replacements). In terms of material, the market is divided into allografts, autografts, synthetic materials, and bone morphogenic proteins (BMPs). By age group, it is classified into < 45 years, 45-64 years, and 65+ years. Region-wise the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global bone replacement market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps understand the applications and applications of mother & child healthcare used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
- Product Type
- Hip
- Fixed Bearing Implants
- Hybrid Total Hip Implants
- Mobile Bearing Total Hip Implants
- Total Hip Implant Fixation
- Knee
- Total Knee Replacement
- Partial Knee Replacement
- Extremities
- Upper Extremities
- Lower Extremities
By Material
- Allografts
- Autografts
- Synthetic Materials
- Bone Morphogenic Proteins (BMPs)
By Age Group
- < 45
- 45-64 Years
- 65 + Years
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: BONE REPLACEMENT MARKET, BY PRODUCT TYPE
CHAPTER 5: BONE REPLACEMENT MARKET, BY MATERIAL
CHAPTER 6: BONE REPLACEMENT MARKET, BY AGE GROUP
CHAPTER 7: BONE REPLACEMENT MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 237 |
| Published | September 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 14318.1 million |
| Forecasted Market Value ( USD | $ 25208.5 million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
