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Bone Replacement Products Market Enhancement in Medical Sector 2018 to 2026 With Key Companies Zimmer Biomet Holdings, Inc, B. Braun Melsungen AG, Stryker Corporation, Smith & Nephew Plc, United Orthopedic Corporation

04-15-2019 08:55 AM CET | Health & Medicine

Press release from: Coherent Market Insights - Medical Devices Industry

Bone Replacement Products

Bone Replacement Products

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.

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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.

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).

Rise in incidence of musculoskeletal conditions to augment market growth

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. The market is expected to gain significant traction in North America, owing to the government initiatives to improve quality of life and reduce burden of people with musculoskeletal conditions.

For instance, in 2014, the United States Bone and Joint Initiative (USBJI), an international collaborative movement sanctioned by the United Nations/World Health Organization, which helps increase awareness about the bone and joint health and disease prevention. However, increasing adoption of conservative medical therapies and non-operative methods such as anti-inflammatory medications for the treatment of musculoskeletal conditions are the factors restraining the growth of bone replacement products market.

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.

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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.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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