Bone Replacement Products Market witness a robust CAGR of 4.4% over the forecast period (2017 - 2025)

Bone replacement products are required to fill the gap or replace the entire section following an accident or after tumor removal, which includes the implants made from metal, ceramic, plastic, and combination of materials. Bone replacement products are widely used when bone grafting is not possible. Moreover, improved mobility, improved quality of life, and cost-effectiveness of bone replacement procedures are major advantages offered by the bone replacement products as compared to non-operative treatments.

The global bone replacement products market was valued at US$ 31.7 billion in 2016 and is expected to witness a robust CAGR of 4.4% over the forecast period (2017 - 2025).

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Rapid innovative strategies adopted by the manufacturers to accelerate the bone replacement products market

The innovative replacement systems are designed to provide patients with a joint preservation ultimatum, preserving the healthy parts of the knee, thus helping to maintain natural knee function. For instance, in 2014, Cayenne Medical launched the Mirror Partial Knee System, the only knee replacement system that uses the patient’s natural knee motion during the surgical procedure. This unique technology balances the knee throughout the entire range of motion. The number of competitors in the bone replacement products market are focused on product development to enhance the efficiency of the products. For instance, in 2017, DePuy Synthes collaborated with JointPoint, Inc. for co-marketing of JointPoint’s software, providing non-invasive computer navigation while performing hip replacement surgery, thereby reducing the chances of leg length discrepancy and problems related to misplacement of implant. The bone replacement products market is expected to propel in Europe with the rising number of replacement procedures and readmissions.

According to the European Commission, 2015, around 800,000 hip procedures were carried out every year in Europe, costing around US$ 1.5 billion. Furthermore, an estimated 20% of implants fail within 20 years, requiring corrective surgery costing an additional EUR 2.3 billion a year. Some of the major players operating in the bone replacement products market include 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.

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