Artificial Bone Market Trend and Sales 2027 | Smith & Nephew plc, Stryker Corporation, NuVasive, Inc.
Various inorganic non-metallic materials such as hydroxyapatite (HA) are used for artificial bone applications, as they offer excellent biocompatibility in bone contact. This material has similar composting to natural bone. A study published in Artificial Cells, Nanomedicine, and Biotechnology Journal in March 2014, highlighted the clinical effectiveness of nano-hydroxyapatite (Nano-HA) artificial bone. The study shows that, 27 patients suffering with bone defects are treated with Nano-HA artificial bone. After, the continuous follow-up for around 18.5 months, patients’ defected bone shows good biocompatibility with Nano-HA artificial bone, without and side effects and complication. Moreover, increasing adaptation of innovative material in the manufacturing of artificial bone, will expected to boost the market.
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HA is the main inorganic component of nature bones, accounting for about 60% of the bone composition. Porous HA ceramics have spectacular usage in biomedical applications namely bone tissue regeneration, cell proliferation, and drug delivery. It is applied as a filling material in bone tissue engineering for bone defects and augmentation, artificial bone graft material, and prosthesis revision surgery. Moreover, significant research has been conducted to use innovative biomaterials such as carbon nano-materials in bone tissue engineering. Carbon-based prostheses are promising materials, which mimic the natural function of bones, offering relevant mechanical strength.
A variety of synthetic polymers, natural polymers, and bioceramics are used to develop artificial bones and also being investigated for their physiochemical role in vivo, which are currently in clinical trial stages. Furthermore, researchers are also investigating carbon-based bone materials, such as carbon nanotubes and graphene, as potential solutions to several biomedical problems. Electrical and mechanical properties of carbon nanotubes (CNTs) are crucial in bone tissue engineering. Among these, electrical properties of carbon nanotubes used to stimulate the cell towards osteogenic differentiation, and mechanical properties can be used to mimic the mechanical strength of the bone.
Global Artificial Bone Market – Drivers
Growing technological development in artificial bones is boosted with 3-D printing design. It is relatively safer and effective technology for the production of artificial bones. Key organizations in the market are focused on development of 3-D artificial bone. For instance, in August 2017, researchers from University of British Columbia, Canada, developed a new artificial bone design that can be customized and made with a 3-D printer for stronger, safer, and highly effective bone replacements.
Growing incidence of trauma and accidents across the globe is expected to drive growth of the global artificial bone market. For instance, according to the Centers for Disease Control and Prevention (CDC), around 2.5 million people were hospitalized in the U.S. in 2014, due to accident injuries, indicating high risk of bone damage. This in turn, offers lucrative opportunity to boost artificial bone market over the forecast period (2018 – 2026). Moreover, the National Trauma Institute in 2014, revealed that economic burden due to trauma cases increased to US$ 671 billion, including healthcare costs and lost productivity costs.
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Moreover, increasing trauma cases is increasing the visits of patients in trauma centers. According to the National Ambulatory Medical Care Survey (NAMCS), in 2010, around 63 million visits to the orthopedic surgery department were recorded and around 3.5 million visits for fractures in the emergency departments in the U.S. Furthermore, among the 6.5 million bone fracture or defect cases, around 887,679 were hospitalized. Factors such high presence of key players and collaborative partnerships among the players are responsible for positioning North America as the largest market for artificial bone market.
Global Artificial Bone Market – Regional Analysis
Geographically, the global artificial bone market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa.
Among regions, North America holds the dominant position in the global artificial bone market. North America accounts for the largest share in the market is expected to register the highest revenue during the forecast period. This is owing to increasing research and development activities artificial bone, which results in development of innovative artificial bone manufacturing technologies in the region.
Moreover, Asia Pacific is expected to witness significant growth during the forecast period, owing to rise in medical tourism as well as development of novel artificial bone material by regional players, exhibiting equivalent efficiency at affordable prices. For instance, in September 2016, a medical 3D printing alliance, which consisting of Taiwan’s National Applied Research Laboratories (NARLabs), China Steel’s branch company ThinTech Materials Technology, the TongTai Group, and the United Orthopedic Corporation; launched new medical 3D printing bone material. This new material underwent and passed the ISO-10993 biocompatibility international regulation’s verification. The group is intended to launch its new material in the global market over the forecast period.
Global Artificial Bone Market – Competitor
Some of the key players operating in the artificial bone market are Baxter International Inc., Medtronic plc, Stryker Corporation, Orthofix International N.V., AlloSource, Inc., Johnson & Johnson (DePuy Synthes), NuVasive, Inc., and Smith & Nephew plc.
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