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The Global Bone Replacement Market size is estimated to grow by USD 5.84 billion at a CAGR of 6.78% between 2023 and 2028. The market's growth is driven by several key factors. There is a rising number of people diagnosed with arthritis and an increasing incidence of sports-related fractures, highlighting the growing demand for orthopedic treatments and medical devices. Concurrently, governments worldwide are providing increased support for healthcare, fostering innovation and accessibility in treatments. These trends underscore a dynamic healthcare landscape where orthopedic solutions play a crucial role in addressing musculoskeletal conditions. As the global population ages and sports participation increases, the market for orthopedic interventions and therapies is poised for substantial growth. Emphasizing advancements in medical technology and therapeutic approaches, stakeholders are poised to meet the evolving healthcare needs, ensuring better outcomes for patients affected by arthritis and sports injuries alike.
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The knee segment is estimated to witness significant growth during the forecast period. One of the key reasons for the significant growth of this segment in the market is the increasing prevalence of knee-related disorders like osteoarthritis and rheumatoid arthritis. Knee replacement is an important surgical procedure as it provides a long-term solution for patients suffering from severe knee joint pain, limited mobility, and inflammation.
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The knee segment was the largest and was valued at USD 5.41 billion in 2018. The presence of a number of well-known vendors, such as Zimmer Biomet and Johnson and Johnson, and the innovations in their products, as well as other technological advancements, are another important factor that is significantly contributing to the expansion of this market segment. One of the most common types of knee replacement surgery is TKR where all three compartments of the knee joint, namely the thigh bone (femur), the top of the shin bone (tibia), and the under-surface of the kneecap (patella), are replaced with joint implants. Several vendors are highly investing in the R&D of TKR knee surgery implants due to their high demand. Hence, such factors are expected to drive the growth of this segment which in turn will drive the growth of the market during the forecast period.
The use of bone tissues from a human donor that can be processed and manufactured into various forms for bone reconstruction surgeries is referred to as allografts. Factors such as increasing bone-related disorders and a growing aging population are significantly contributing to the growth of the allograph segment. Additionally, the rising prevalence of bone-related disorders such as OA, osteoporosis, and bone cancer is also fuelling the demand for bone replacement surgeries. Hence, due to this high demand, there is a growing need for these allographs in several bone replacement procedures. Hence, such factors are expected to drive the growth of this segment which in turn will drive the growth of the market during the forecast period.
The use of bone tissue obtained from the same individual who receives the transplant can be referred to as the autografts segment of the global bone replacement. One of the main reasons which significantly drives the growth of this segment is its convenience. One of the main advantages of autografts is that it has excellent biocompatibility with the recipient body, reducing the chances of rejection and minimizing the need for immune suppressants. There is a growing preference for these implants across healthcare facilities as the use of autografts results in better healing, reduced infection rates, and overall greater success rates in bone replacement procedures. Hence, such factors are expected to drive the growth of this segment which in turn will drive the growth of the market during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. One of the main factors for the significant growth of the market in North America is the factors such as the growing adoption of advanced knee implants, improved healthcare infrastructure, the high prevalence of knee diseases and hip diseases and related risk factors, and the increasing number of knee and hip replacement surgeries.
Moreover, some of the key countries in North America which are significantly contributing to the market growth include the US and Canada as these countries have publicly funded healthcare systems, where the government Medicare program covers the majority of the cost of medical treatment, surgeries, and orthopedic implants. Furthermore, factors such as The increased awareness about implant surgeries among healthcare professionals and patients and the greater presence of advanced healthcare facilities are expected to drive the market in the region during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
B.Braun SE: The company offers bone replacement such as the Bicontact Universal Hip System.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market addresses diverse orthopedic needs arising from traumatic injuries, age-related osteoporosis, and chronic conditions necessitating surgical treatments like bone transplantation. With advancements in materials such as metal, ceramic, and plastic, joint replacements for knee, hip, and extremities cater to a growing geriatric population and those affected by osteoporotic fractures. Non-operative treatments and injectable therapies complement surgical options, offering holistic care for damaged bones and missing bone segments. Polymers play a crucial role in enhancing implant durability and biocompatibility. The market's growth is bolstered by increasing orthopedic disorders and the rising demand for innovative solutions to alleviate chronic pain and restore bone mass. As healthcare providers innovate to meet these challenges, the market continues to evolve, emphasizing safety, efficacy, and patient-centered care in orthopedic interventions.
The rise in the incidence of sports-related fractures is a major factor driving the market growth. One main factor which fuels the growth of the market is the increase in the number of fractures sustained by players in sports, including children and athletes. There is a growing focus on early sports specialization as many parents believe that specialization in a single sport at a young age can help their children improve their skills and performance in a particular sport.
As a result, there is an increase in cases of sports injuries among children. Some of these injuries are from different sports such as football, baseball, soccer, basketball, and softball. These injuries are majorly caused due to broken bones and stress fractures which are significantly fuelling the demand for bone replacement surgeries. Hence such factors are expected to drive the market growth during the forecast period.
The rising number of new product launches and approvals is a major trend in the market. There is a growing preference for organic growth strategies, such as new product launches and approvals by vendors in the global market in order to expand their presence globally. As a result, there is a significant increase in R&D activities which has resulted in more product innovations.
For instance, in November 2022, Zimmer Biomet Holdings Inc, announced that the US FDA had given its approved clearance for the Persona OsseoTi Keel Tibia for cementless knee replacement. Thus, these vendors need to keep on innovating new products in order to sustain themselves in the market. Hence, such factors are expected to drive market growth during the forecast period.
A shortage of skilled orthopedic surgeons is a major challenge restraining the market growth. One of the main challenges which pose a significant threat to the market is a significant shortage of orthopedic surgeons as the success rate of bone replacement surgeries is highly dependent on the skills and experience of orthopedic surgeons. For instance, by 2025, the supply of orthopedic surgeons in the US is expected to be significantly lower than its demand.
Moreover, the main reason for this shortage of orthopedic surgeons, especially in developing countries is due to sub-specialization in orthopedic surgery. There is a growing reluctance among surgeons who have an orthopedic subspecialty like joint replacement to set up their practice in smaller cities as the number of patients is less or there is not much return on investment. Hence, such factors are expected to hinder the market growth during the forecast period.
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The market report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is evolving with advancements in surgical treatments and technologies aimed at addressing a range of orthopedic issues, from knee and hip replacements to extremities and bone grafting alternatives. Ceramics and biomaterials, including bone morphogenetic proteins, enhance osteoconductive characteristics crucial for bone grafting and replacement surgeries. This market caters particularly to the aging population seeking pain relief and restored movement. Innovations like 3D printing and minimally invasive techniques have revolutionized bone grafting devices and regenerative medicine approaches, facilitating personalized treatments. The sector also sees growth driven by road accidents and elective surgeries, with a rising middle-class population and medical tourism contributing to its expansion. With a focus on biological implants and tissue engineering, the market continues to expand, meeting global healthcare demands with tailored solutions for enhanced patient outcomes and improved quality of life.
Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market Growth 2024-2028 |
USD 5.84 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AK Medical Holding Ltd., Arthrex Inc., B.Braun SE, Baumer, Baxter International Inc., Beijing Chunlizhengda Medical Instruments Co. Ltd., Conformis Inc., DJO Global Inc., Exactech Inc., Globus Medical Inc., Heraeus Holding GmbH, Johnson and Johnson Services Inc., KYOCERA Corp., Medtronic Plc, Nuvasive Inc., Olympus Corp., Smith and Nephew plc, Stryker Corp., United Orthopedic Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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