Global Bone Replacement Market, By Product Type, By Material, By Age Group & By Region- Forecast and Analysis 2022-2028

Global Bone Replacement Market was valued at USD 14.93 billion in 2021 and it is expected to reach at USD 22.15 billion by 2028, at a CAGR of 5.7% over the forecast period (2022-2028).

Following an accident or the removal of a tumor, bone replacement products, including implants made of metal, ceramic, plastic, and combinations of materials, are needed to fill the gap or replace the entire section. When bone grafting is not an option, products for replacing missing bone are frequently used. Additionally, compared to non-operative treatments, the bone replacement products offer major advantages in terms of improved mobility, improved quality of life, and cost-effectiveness of bone replacement procedures. Strategic partnerships between market participants and rising global demand for bone replacement are anticipated to hasten the growth of the bone replacement market.

Top-down and bottom-up approaches were used to estimate and validate the size of Global Bone Replacement Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Global Bone Replacement Market is segmented based on product type, materials, age group, and region. Based on product type, the market is segmented into hip, knee, and extremities. Based on material, the market is segmented into allografts, autografts, synthetic materials, and bone morphogenetic proteins (BMPs). Based on age group, the market is segmented into lesser than 45 years, 45-64 years, and greater than 65 years. Based on region, the global Bone Replacement market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Because of rising rates of orthopedic surgeries and musculoskeletal diseases (MSD), the global bone replacement market is expanding dramatically. Additionally, more than 3 million Americans undergo surgery for musculoskeletal conditions (MSD). Additionally, more than 8.75 million people in the UK were between the ages of 45 and 64 in 2019, and 33% of them had osteoarthritis, according to a report article by the State of Musculoskeletal Health. All of these factors may encourage growth in the global market for bone replacement.

Restraint

In comparison to other procedures, bone replacement is very expensive. Additionally, medical insurances in China, India, and other developing nations do not pay for the pricey procedures of bone replacement. These are a few of the elements that experts predict will reduce the market value of bone replacement in the coming years.

Market Trends

Innovative knee replacement systems are made to give patients a choice between maintaining their joints and preserving the healthy knee components, which helps to preserve normal knee function. One knee replacement system launched by Cayenne Medical uses the patient's natural knee motion during surgery is the Mirror Partial Knee System. The knee is balanced throughout its entire range of motion thanks to this innovative technology. Competitors in the market for bone replacement products are concentrating on product development to increase the effectiveness of the products.