Bone Replacement Products Market– Effective Solution For Bone Problems
The Global Bone Replacement Products Market, by Product Type (Hip Replacement, Knee Replacement, Trauma and Extremities, and Spine Replacement), by Material (Metals, Ceramics, Plastics, and Combination of Materials), by End User (Hospitals, Orthopedic Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 31.7 billion in 2016 and is projected to exhibit a CAGR of 4.4% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The development of patient-specific hip implants considering the anatomic individuality or extremely difficult reconstructive cases of patients is a major factor propelling the demand for hip replacement products. For instance, Zimmer Biomet’s patient-matched implant (PMI) department works directly with surgeons to address the most severe cases of bone loss or deformity.
Request Sample Copy of this Report: https://www.coherentmarketinsights.com/insight/request-sample/1049
Growing preference for minimally invasive procedures to propel growth of market
Minimally invasive and small incision replacement surgery is an evolving area with improved rehabilitation and pain management to accelerate post-surgery recovery. Increasing adoption of minimally invasive techniques by professionals, owing to long-term benefits is expected to propel growth of the bone replacement products market. Moreover, benefits of minimally invasive replacement procedure have been reported to include less damage to soft tissues, leading to a quick and less painful recovery.
Rising number of bone tumors and trauma cases is expected to accelerate the demand for bone replacement products
Treatment of bone cancers with surgical procedures involves replacement of cancerous bone by bone replacement products or implants. Thus, increasing incidence of bone cancers such as osteosarcoma, chondrosarcoma, and Ewing’s sarcoma, which require bone replacement, is in turn expected to propel growth of the bone replacement products market. According to the American Society of Clinical Oncology, 2014, bone sarcomas account for 0.2% of all malignancies globally with the incidence rate for bone and joint malignancies to be 0.9 per 100,000 people annually, in the U.S. Furthermore, increasing cases of bone fracture trauma due to fall, motor vehicle accident or sports, require medical intervention (orthopedics) thus, augmenting the demand for bone replacement products. According to the National Trauma Institute, in 2014, traumatic injury is the major cause of death globally with the major share of road injury (29.1%) and falls (11.6%).
The market players are engaged in strategic acquisitions and collaborations to increase the portfolio diversification and to introduce exciting new platform technologies. For instance, in 2015, United Orthopedic Corporation collaborated with Shinva Medical Instrument Co., Ltd and New China Life Health Co., Ltd. to expand the sales of bone replacement products in China. Furthermore, in 2016, Zimmer acquired LDR Holding Corporation to enhance innovation and growth of their spine segment. The production of innovative products with research and development activities is expected to enhance the competitive environment among the manufacturers. For instance, in 2015, B. Braun Melsungen AG launched a new 7-layer advanced surface technology with zirconium nitride coated on knee implant to improve its mechanical properties and biocompatibility, thus reducing wear rate by 65%.
Request a Customization: https://www.coherentmarketinsights.com/insight/request-customization/1049
Key Takeaways of the Bone Replacement Products Market:
The global bone replacement products market is expected to exhibit a CAGR of 4.4% over the forecast period, owing to the presence of high potential market especially in Asia Pacific, Latin America, the Middle East, and Africa
Among materials, the combination of materials segment holds a dominant position in the market, as these material implants have enhanced wear resistant and biocompatible properties as compared to the other materials
Among end user, the ambulatory surgical centers segment is expected to hold a dominant position in the bone replacement products market, owing to the minimal requirement of prolonged postoperative monitoring and hospital stay
Some of the major players operating in the global bone replacement products market are Zimmer Biomet Holdings, Inc., B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew Plc, United Orthopedic Corporation, Depuy Synthes, Medtronic Plc., Japan Medical Dynamic Marketing, Inc., JRI Orthopedics, Exactech, Inc., and Mathys.
You may be interested
Social Media Analytics Market to grow like never before by 2026Sayali Tribhuvan - July 17, 2018
Social Media Analytics Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…
Construction Chemicals Market Growth Opportunities and Future Prospects till 2026Sayali Tribhuvan - July 17, 2018
The Construction Chemicals Market research report covers the present scenario and the growth prospects of the global Construction Chemicals industry for 2018-2026. The report enlists several important…
Intelligent Virtual Assistant Market Expansion to be Persistent During 2018–2026Sayali Tribhuvan - July 17, 2018
Intelligent Virtual Assistant Market Research Study provide detailed information about the key factors influencing the growth of the industry which include drivers, restraints, opportunities, and industry-specific challenges,…