Bone Replacement Products Market: Positioning, Revenue, Growth Factors And Forecast By 2026

Bone replacement products are the implants surgically placed into the body to restore the normal bone function by replacing the damaged structure. The increased safety profiles, intraoperative cost, and adaptability to a variety of clinical challenges have enhanced the usage of innovative bone replacement products in the recent past. The advantages offered by bone replacement products include reduction of treatment time, bone preservation, and significant reduction in long-term treatment cost. The focus on cost-effective and wear-reducing quality products in order to enhance the product offerings and decrease the revision rate associated with replacement surgeries are expected to aid the bone replacement products market over the forecast period.

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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Market Dynamics
The major factors driving growth of the bone replacement products market include rapid technological advancement of the orthopedic implants and improved healthcare facilities in emerging economies. Furthermore, the wide application of bone replacement products in the field of oncology, spine surgeries, and trauma cases is expected to fuel the market growth over the forecast period. According to the study by Orthoknow, 2012, around 2.9 million joint replacement procedures occur annually worldwide, including over 1.4 million hip procedures, 1.1 million knee procedures, and around 100,000 shoulder replacements. However, postoperative risks associated with bone replacement products and stringent approval of the highly specialized products by the regulatory agencies are the factors hampering growth of 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.

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.

Osteoporosis is characterized by low bone mineral density (BMD) and deterioration of bone tissues, leading to increased risk of developing traumatic bone fractures. The global incidence of osteoarthritis is expected to escalate, owing to increasing obesity and ageing population, in turn increasing demand for bone replacement products. According to the World Health Organization (WHO), 2013, around 28.2% of the global population above 60 years of age, suffered from osteoarthritis with an estimated 80% recorded with mobility handicaps.

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