Bone Replacement Market to Witness Considerable Growth Owing to Increasing Prevalence of Orthopedic Surgeries

Bone replacement market is expected to grow by 2028 due to the rising prevalence of musculoskeletal illnesses and orthopedic surgeries. Knee sub-segment is expected to be highly beneficial. The North America region is predicted to be the most lucrative by 2028.

As per analysis by Research Dive, the global bone replacement market is expected to register a revenue of $27,643.10 million by 2028, growing from $16,400.00 million in 2020, at a healthy CAGR of 7.0%.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐧𝐨𝐰 @ https://www.researchdive.com/download-sample/904

Dynamics of the Market

Drivers: The biggest driving factor for the bone replacement market is the increased demand for bone replacement due to osteoarthritis which is the most common form of arthritis. The prevalence of osteoarthritis is expected to increase within people aged above 65 up to 80% of people. This will eventually increase the demand for bone replacement. Besides, the growing prevalence of musculoskeletal illnesses (MSD) is projected to increase the market growth.

Opportunities: The rise in the number of road accidents along with technological advancements in bone graft devices are expected to create massive growth opportunities for the bone replacement market. Additionally, most market leaders involved in the global market of bone replacement are continuously implementing effective business strategies such as product innovations. This factor may lead to an increase in the demand for bone replacement and present growth opportunities in the market during the analysis timeframe.

Restraints: The high cost of bone replacement and lack of medical policies that cover the expenses of bone replacement are some of the restraints that may create a negative impact on the market during the forecast period.

Impact Analysis of COVID-19 on the Global Bone Replacement Market

The COVID-19 pandemic has made a moderate impact on the bone replacement market because of complete lockdown and lack of transport facility available during the pandemic. Moreover, bone replacement surgeries were postponed in many countries due to restrictions in the hospitals. Also, according to the Journal of Arthroplasty, in 2020, 30,000 and 3,000 primary and revision knee replacement surgeries were canceled. Such types of factors negatively affected the bone replacement market all over the globe.

Segments of the Market

The report has fragmented the global bone replacement market into multiple segments based on product, replacement, and region.

Based on product, the knee sub-segment will have significant as well as fastest market growth and it is expected to generate a revenue of $12,900.10 million by 2028. This is mainly because knee replacement is the most common type of bone replacement that is caused mainly due to osteoarthritis. a center for orthopedic and neurological care and research has predicted a staggering 673% rise in the number of total knee replacement surgeries, reaching 3.5 million procedures by 2030.

Based on material, the allografts sub-segment is predicted to be the most dominant and is estimated to surpass $11,567.60 million by 2028. This growth can be attributed to the increasing demand for allografts, driven by their ability to restore mobility, alleviate pain, and potentially aid patients in regaining normal function. These attributes contribute to the rising demand for allografts in the bone replacement market.

Based on region, the North America bone replacement market is projected to flourish immensely and is anticipated to generate a revenue of $11,444.20 million by 2028. This is majorly owing to the presence of major market players and innovations in bone replacement in the US. In addition, the significant expansion of the region is primarily fueled by an increase in road accidents, attributed to a substantial portion of the elderly population.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 @ https://www.researchdive.com/request-for-customization/904

Prominent Market Players

The key players operating in the global bone replacement market include Johnson & Johnson (Depuy Synthes), B. Braun Melsungen, AK Medical Holdings Limited (AK Medical), Zimmer Biomet Holdings, Inc., United Orthopedic Corporation, Stryker Corporation, Waldemar Link GmbH & Co. Kg, Colfax Corporatio, Exactech Inc., and Smith & Nephew Plc.

These companies are implementing various strategies like introducing new products, forming collaborations, expanding their operations, entering joint ventures, and making agreements to bolster their market share and uphold their leadership across diverse regions. The report also summarizes several crucial aspects, such as the financial performance of key market players, SWOT analysis, product portfolio, and the latest strategic advancements.

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

Percutaneous Aortic Valve Implantation Market: https://www.researchdive.com/8575/percutaneous-aortic-valve-implantation-market

Bronchial Thermoplasty Catheter Market: https://www.researchdive.com/8597/bronchial-thermoplasty-catheter-market

Surgical Table Market: https://www.researchdive.com/2761/surgical-tables-market

Breast Imaging Market: https://www.researchdive.com/277/breast-imaging-market

Dental Imaging Market: https://www.researchdive.com/321/dental-imaging-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

𝐌𝐫. 𝐀𝐛𝐡𝐢𝐬𝐡𝐞𝐤 𝐏𝐚𝐥𝐢𝐰𝐚𝐥

𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞

𝟑𝟎 𝐖𝐚𝐥𝐥 𝐒𝐭. 𝟖𝐭𝐡 𝐅𝐥𝐨𝐨𝐫, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤 𝐍𝐘 𝟏𝟎𝟎𝟎𝟓

(𝐏) +𝟗𝟏-(𝟕𝟖𝟖)-𝟖𝟎𝟐-𝟗𝟏𝟎𝟑 (𝐈𝐧𝐝𝐢𝐚)

𝐓𝐨𝐥𝐥 𝐅𝐫𝐞𝐞: 𝟏-𝟖𝟖𝟖-𝟗𝟔𝟏-𝟒𝟒𝟓𝟒

𝐄-𝐦𝐚𝐢𝐥: support@researchdive.com

𝐖𝐞𝐛𝐬𝐢𝐭𝐞: https://www.researchdive.com

𝐀𝐛𝐨𝐮𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐃𝐢𝐯𝐞:

Research Dive maintaining the integrity and authenticity of the services, the firm provides services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, a team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable.

Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive delivers the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

This release was published on openPR.