Global Artificial
Bone Market, by Material (Ceramics, Composite, Polymer, Hydroxyapatite, and
Others), by Application (Spinal Fusion, Dental, Craniomaxillofacial, Joint
Reconstruction, and Trauma and Extremities), by End User (Hospitals, Specialty
Clinics, and Research Organization), and by Region (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be
valued at US$ 1,375.1 million in 2021 and is expected to exhibit a CAGR of 5.6%
during the forecast period (2021-2028), as highlighted in a new report published
by Coherent Market Insights.
Global Artificial Bone Market-
Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19)
pandemic and lockdowns in various countries across the globe have impacted the
financial status of businesses across all sectors. The private healthcare
sector is one of the sectors, which has been majorly impacted by the COVID-19
pandemic. The lockdown in various countries due to the COVID-19 pandemic has
created an economic burden on the private healthcare sectors. Healthcare
providers are facing challenges with regards to manpower, equipment,
consumables, and other resources to ensure safety in treatment of patients with
other diseases, and declining outpatient’s visits, etc. Thus, COVID-19 pandemic
has affected the economy in three main ways; 1) by directly affecting the
production and demand; 2) by creating disruptions in distribution channels; and
3) through its financial impact on companies and financial markets. Supply
chain and manufacturing activities in India, China, and the U.S. have been
disrupted due to the global lockdowns, while countries such as Saudi Arabia,
UAE, Egypt, and others are facing problems with regards to transportation of
bone graft substitutes.
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Thus, impact of the coronavirus
(COVID-19) pandemic is expected to limit growth of the global artificial bone
market during the forecast period.
The increasing number of product
approvals from regulatory authorities such as USFDA is expected to drive growth
of the global artificial bone market during the forecast period. For instance,
in September 2020, Baxter International Inc., a global provider in advancing
surgical innovation, announced the U.S. Food and Drug Administration (FDA)
clearance of its Altapore Shape Bioactive Bone Graft, the latest addition to
the company’s next-generation bone graft substitute product line.
The increasing number strategic
acquisitions is expected to provide huge opportunities to the global artificial
bone market growth in the near future. For instance, in June 2016, Zimmer
Biomet Holdings, Inc. acquired LDR Holding Corporation, in stock deal of around
US$ 1 billion. LDR Holding Corp. is a global medical device company focused on
designing and commercializing novel and proprietary surgical technologies for
the treatment of patients suffering from spine disorders.
The increasing number of
technological developments in artificial bones is expected to drive the market
growth. Major players in the market are focused on developing novel
technological platforms in artificial bone to expand their product portfolio.
For instance, according to the data published in Science Daily Journal, 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.
Moreover, the chances of having
bone related diseases in geriatric population is higher. Thus, increasing number of geriatric
population is expected to drive the market growth during the forecast period.
For instance, according to a report published in March 2016 by the United
States Census Bureau, the geriatric population (aged 65 years and above) is
expected to account for 12% of the global population by 2030 and further to
16.7% by 2050, as compared to 8.5% in 2015.
Browse Research
Report: https://www.coherentmarketinsights.com/market-insight/artificial-bone-market-1899
Browse 35 Market Data Tables and
36 Figures spread through 208 Pages and in-depth TOC on Global Artificial Bone
Market, by Material (Ceramics, Composite, Polymer, Hydroxyapatite, and Others),
by Application (Spinal Fusion, Dental, Craniomaxillofacial, Joint
Reconstruction, and Trauma and Extremities), by End User (Hospitals, Specialty
Clinics, and Research Organization), and by Region (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa) - Forecast to
2028"
The increasing number of clinical
trials to develop synthetic bone graft for the treatment of the bone deformity
due to trauma and other conditions is expected to drive growth of the global
artificial bone market. For instance, in June 2018, Ceramisys Ltd initiated the
clinical trial study of the safety and efficacy of the synthetic bone graft
substitutes for the treatment of the bone deformity due to trauma and other
conditions.
Key Takeaways of the Global
Artificial Bone Market:
The global artificial bone market
is expected to exhibit a CAGR of 5.6% during the forecast period (2021-2028),
owing to the increasing number of product launches, which is expected to propel
growth of the market during the forecast period. For instance, in 2015, Stryker
Corporation's Spine and Trauma & Extremities Divisions launched BIO4, a new
therapeutic alternative to autograft for foot and ankle surgery, which avoids
secondary surgical sites necessary to harvest autograft tissue.
Among material segment, ceramics
segment is expected to drive the market growth owing to increasing new launches
in the market. For instance, in 2018, NuVasive, Inc. launched AttraX Scaffold,
an absorbent ceramic-collagen bone graft with an optimized surface.
Major players operating in global
single-use products in biopharmaceutical market include Medtronic Plc., Johnson
& Johnson, Baxter International Inc., Smith & Nephew plc, Stryker
Corporation, NuVasive, Inc., Allosource, Curasan, Inc., Ziacom Medical SLU,
Orthofix International N.V., Biomatlante, and DSM.
Buy-Now this research
report: https://www.coherentmarketinsights.com/insight/buy-now/1899
About
Coherent Market Insights:
Coherent
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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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