The report gives detail analysis of the “Bone Implant Market” structure along with forecast, market size & share, different segments and developing trends of the industry.
Bone Implant Market Analysis
Bone implants such as fillers and scaffolds play various roles in both, during bone grafting surgeries and in procedures such as treating bone fractures, facilitating the bone formation. Bone implants are designed to restore the function by replacing or reinforcing a damaged structure.
Moreover, rising R&D expenditures and substantial investments transpired in the bone implant market by the players to bring about innovations and such as new product launches are escalating the market on the ascending heights on the global platform.
Acknowledging the phenomenal growth the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the bone implant market is expected to perceive exponential accruals by 2023, growing at approximately 6.8% during the review period (2018-2023).
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Increasing accident cases along with hyper-obesity disorders drive the demand for bone implants, causing severe bone injuries. The augmented demand for bone implants leads to increasing the market size. Technological advancements that took place over the past couple of decades; have brought about several betterments in the bone implants for instance expandable and bio-resorbable implants which have contributed to the market growth, increasing their uptake.
Technological advancements transpired into medical technology is a dominant driving force behind the growth of the Bone implants market. Several researches ongoing, worldwide, are expected to foster market growth, offering the best results and improving the quality of life of patients.
On the other hand, factors such as rising cost of orthopedic surgeries, the high price of bone implant products, corrosion and instability of bio-resorbable implants, and stringent government policies are expected to obstruct the growth of the market during the assessment period. Nevertheless, bio-resorbable bone implants have become a vibrant ongoing trend in the market will undoubtedly support market growth.
Global Bone Implant Market – Segments
The MRFR analysis bone implant market segmented into six key dynamics:-
By Biomaterials : Metals, Ceramics, and Polymers among others.
By Products : Orthopedic Screws, Orthopedic Plates, and Interlocking Nails (Rods), among others.
By Applications : Hip Orthopedic Implants, Knee Orthopedic Implants, Spine Orthopedic Implants, and Dental Orthopedic Implants, among others.
By Devices : External Fixators and Internal Fixators.
By End-Users : Orthopedic Clinics, Hospitals, and others.
By Regions : Europe, North America, APAC and Rest-of-the-World (RoW).
Global Bone Implant Market – Regional Analysis
Globally, the North American region accounts for the leading for bone implant market. The U.S. and Canada contribute to the market growth in the region majorly. The technological innovations, advancing manufacturing processes with the contribution of nanotechnology, are some of the factors substantiating the market growth.
Rising investments into R&D to develop new techniques and higher per capita health care expenditures and are some of the major factors supporting the growth of the bone implant market in the region.
Moreover, the factors such as rising occurrence of osteoarthritis and osteoporosis in the aging population, increase in the number of surgical procedures along with the presence of a well-established healthcare system propel the growth of the regional market. Furthermore, the growing number of hip and knee replacement procedures alongside the increasing prevalence of sports injuries, and the adoption of highly advanced technology.
The European region is expected to be the second-largest market for bone implants, exhibiting a phenomenal growth throughout the review period. Moreover, factors like financial support from the government for research and development activities, the increase in geriatric population and the increasing demand for bone implants and devices for the treatment of bone disorders drive the market growth in the region.
Furthermore, the rising prevalence of orthopedic diseases is contributing to the growth of the market in this region, generating a massive demand for orthopedic implants and spinal treatment devices during the assessment period.
The Asia Pacific bone implant market is emerging as a promising market. The increasing prevalence of obesity disorders, increasing healthcare expenditure and increasing government funding along with the large unmet needs drive the market growth in the region. The growing awareness about the availability of novel bone grafting techniques is accelerating the growth of the regional market.
Additionally, factors such as the burgeoning medical tourism market due to the availability of low-cost, quality bone grafting procedures drive the market growth in the region.
Global Bone Implant Market – Competitive Analysis
The highly competitive bone implant market has many key players those are increasingly investing in R&D activities to bring about innovations in the implants. Manufacturers try to develop implants that can offer surgeons a superior option for bone fusion surgery without much of the challenges in the surgical procedures.
Key manufacturers try to offer unique, cutting-edge implant design and surgical solutions to help achieve bone balance in patients by using controlled incremental expansion design that allows surgeons to restore the gap and optimize the implant efficiently, literally, for each patient.
Bone Implant Market Key Players:
The bone implant market leaders profiled in the MRFR analysis include Globus Medical, Inc., Depuy Synthes Inc. (Johnson & Johnson), NuVasive, Inc., Stryker Corporation, Smith & Nephew plc. , Zimmer Biomet Holdings, Inc., Medtronic, plc, Integra LifeSciences Holdings Corporation, The Orthopedic Implant Company, Aesculap Implant Systems, Wright Medical Group N.V., Conmed Corporation, BioTek Instruments, Inc., and Arthrocare Corporation.
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Bone Implant Industry/ Innovation/ Related News:
October 31, 2018 – Synergy Biomedical (US) an advancing biomaterial technology company optimized bone healing with bioactive glass announced receiving FDA approval for its BioSphere Flex strip-format bone graft product. This bone graft product is a porous, bioactive glass that is incorporated into sodium and collagen hyaluronate carrier which further allows the implant to become flexible and moldable when hydrated with bone marrow aspirate.
Moreover, the bonded spherical structure of the product supports with an ideal level of absorbency for bone growth to take place within the granules, aiding graft placement and facilitating the implant to adapt to asymmetrical bone surfaces for maximum graft continuity and healing ability.