Bone Implant Market Outlook
The global bone implant market is growing pervasively over the past few years. Increasing number of orthopedic surgeries, rising occurrences of sports-related injuries and growing geriatric populace are some of the major factors supporting the Bone Implant Market Growth. Moreover, rising R&D expenditures and substantial investments transpired by the players to bring about innovations, and new product launches are escalating the market on the global level.
According to a leading research firm, Market Research Future (MRFR), the global bone implant market is expected to witness significant growth by 2023. In its recently published analysis, MRFR also asserts that the market would register approximately 6.8% CAGR during the review period (2018-2023). Rising prevalence of osteoarthritis and osteoporosis and the increasing aging population, worldwide, are a key factor fostering the growth of the market.
Moreover, increasing accident cases and increasing hyper-obesity disorders, drive the demand for bone implants, causing severe bone injuries. Augmenting demand for bone implants leads to increasing the size of the market. Technological advancements transpired into medical technology is a dominant driving force behind the growth of the market.
Several ongoing researches expected to foster market growth, offering the best results, and improving the quality of life of patients. Conversely, the high cost of orthopedic surgeries and bone-implant products are factors impeding the growth of the market.
Also, corrosion and instability occurring in implants alongside, the stringent government policies are obstructing the growth of the market during the assessment period. Nevertheless, bio-resorbable bone implants would support the growth of the market, becoming a vibrant trend.
Bone Implant Market – Segmentations
The report segments the market into six key dynamics to widen the scope of understanding,
By Biomaterial: Ceramics, Metals, Polymers, and others.
By Product: Orthopedic Plates, Orthopedic Screws, Interlocking Nails (Rods), and others.
By Application: Knee Orthopedic Implants, Hip Orthopedic Implants, Spine Orthopedic Implants, Dental Orthopedic Implants, and others.
By Device: External Fixators and Internal Fixators.
By End-user: Hospitals and Orthopedic Clinics, among others.
By Regions: North America, Europe, Asia Pacific, and Rest-of-the-World.
Global Bone Implant Market – Geographical Analysis
The North American region is likely to retain its dominance over the global bone implants market. Advances in medical technology, product innovations, and advanced manufacturing processes with the usages of nanotechnology, are some of the key factors substantiating the growth in the market. The US and Canada are the major bone implants market in the region and contribute to the regional market growth, largely.
Rising investments into R&D and higher per capita health care expenditures are supporting the growth of the market in the region. Moreover, factors, such as the rising prevalence of osteoarthritis & osteoporosis in the aging population, increase in the number of surgical procedures, and presence of a well-established healthcare system propel the growth in the regional market.
The bone implants market in the European region stands second in terms of the size of the market, globally. The market would exhibit phenomenal growth throughout the review period driven by the government support for R&D activities, the increase in the geriatric population, and increasing demand for bone implants and devices for the treatment.
Furthermore, the rising occurrences of orthopedic diseases are contributing to the regional market growth, generating massive demand for orthopedic implants and devices during the assessment period.
The bone implant market in the Asia Pacific region is emerging as a promising market. Rapidly increasing healthcare sector and improvements in the medical technology drive the regional market. Rising obesity disorders that could lead to bone density issues, alongside, the large unmet needs would foster the market growth in the region. Moreover, increasing healthcare expenditures and government funding led by the improving economy in the region act as major tailwinds pushing up the market growth.
Also, growing awareness about the availability of novel bone grafting techniques is accelerating the growth of the regional market. Additional factors, such as the burgeoning medical tourism market due to the availability of low-cost, quality bone grafting procedures drive the regional market.
Global Bone Implant Market – Competitive Landscape
Highly competitive, the bone implant market appears to be fragmented due to the presence of many key players. Manufacturers of bone implants try to develop their products that can offer surgeons a superior option for bone fusion surgery without much of the challenges in the surgical procedures. They strive to offer unique, cutting-edge implant design, and surgical solutions to help patients achieve bone balance.
By using a controlled incremental expansion design, they develop products that allow surgeons to restore the gap and optimize the implant efficiently, literally, for each patient. For the same, they are increasingly investing in R&D activities to bring about innovations in the implants.
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Bone Implant Market Major Players:
Players leading the global bone implant market include Globus Medical, Inc., NuVasive, Inc., Depuy Synthes Inc. (Johnson & Johnson), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew plc., Medtronic, plc, The Orthopedic Implant Company, Integra LifeSciences Holdings Corporation, Aesculap Implant Systems, BioTek Instruments, Inc., Wright Medical Group N.V., Conmed Corporation, and Arthrocare Corporation, among others.
The global industry is segmented on the basis of biomaterial, product, application, device, end user, and region.Bone Implant Market AnalysisBone implant products are used in numerous orthopedic surgeries to support the bone and to restore the functionality of the bone.
The increasing geriatric population, growing number of orthopedic surgical procedures, rising prevalence of sports-related injuries, and bone weakness due to the changing lifestyle are the major factors driving the growth of the global bone implant market.
Moreover, in 2016, The European Union (EU 28) spent 7.1% of its total GDP on healthcare, and the amount was around USD 1000 billion.Rapid advancement of the technology around bone implants is likely to be a major growth driver for the global market during the forecast period.
With time, the market has grown rapidly, leading to steady development of a number of products that can be viably used as bone implants.
The steady development of the materials industry has also led to a rapid rise for the bone implants market, as a number of viable materials have been developed that can be used to produce effective bone implants.This is likely to remain a major driver for the global market over the forecast period, as the material plays a key part in ensuring long-term viability of the bone implant.
On the other hand, the high costs associated with orthopedic surgeries, high costs of orthopedic products, and stringent government policies are likely to hamper the market growth during the forecast period.Get a FREE Sample with Complete TOC By considering the COVID-19 impact on market @ https://www.marketresearchfuture.com/sample_request/6291Competitive Analysis:Some of the key players in the global bone implant market are Depuy Synthes Inc. (Johnson & Johnson) , Globus Medical, Inc., NuVasive, Inc., Smith & Nephew plc., Stryker Corporation, Zimmer Biomet Holdings, Inc., Integra LifeSciences Holdings Corporation, Medtronic, plc, the Orthopedic Implant Company , Wright Medical Group N.V., Aesculap Implant Systems, BioTek Instruments, Inc., Conmed Corporation, Arthrocare Corporation, and others.In 2017, Stryker Corporation acquired Vexim for USD 215 million.In May 2018, NN Inc. acquired Paragon Medical for USD 375 million.Segmentation:The global bone implant market has been segmented on the basis of biomaterial, product, application, device, and end-user.On the basis of biomaterial, the market has been classified as metal biomaterial, ceramic biomaterial, and polymer biomaterial.
Global Bone Implant Market: Information by Biomaterial (Metal and Others), Product (Orthopedic Screws, Orthopedic Plates, and Others), Application (Hip Orthopedic Implants and Others), Device (External and Internal), and End-User–Global Forecast Till 2027Market HighlightsBone implant products are used in numerous orthopedic surgeries to support the bone and to restore the functionality of the bone.
The increasing geriatric population, growing number of orthopedic surgical procedures, rising prevalence of sports-related injuries, and bone weakness due to the changing lifestyle are the major factors driving the growth of the global bone implant market.
Moreover, in 2016, The European Union (EU 28) spent 7.1% of its total GDP on healthcare, and the amount was around USD 1000 billion.High costs associated with orthopedic surgeries, high costs of orthopedic products, and stringent government policies are likely to hamper the market growth during the forecast period.Regional AnalysisThe market in the Americas is expected to dominate the global bone implant market during the forecast period owing to the increasing prevalence of chronic pain along with the growing geriatric population, rising occurrences of sports injuries, and well-established healthcare sector in the region.
Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to technological developments, constant improvements in infrastructure and facilities, booming medical tourism sector, increasing number of advanced surgeries in emerging economies, and favorable government initiatives for healthcare facilities.The market in the Middle East and Africa is likely to account for the smallest share of the global bone implant market.
The metal biomaterial sub-segment has been further divided into titanium, titanium alloys, stainless steel, cobalt chromium alloys, gold alloys, and tantalum.
The polymer biomaterial sub-segment has been classified as polymethylmethacrylate, polytetrafluoroethylene, polyethylene, polysulfone, polyurethane, and polyether ether ketone.The market, by product, has been segmented into orthopedic screws, orthopedic plates, interlocking nails (rods), and others.The market, by application, has been divided into hip orthopedic implants, knee orthopedic implants, spine orthopedic implants, dental orthopedic implants, and others.The market, by device, has been segmented into external fixators and internal fixators.
Persons having sufficient bone in the place of his/her missing tooth are eligible to go for dental implants.
Although your jaw does not have enough bone support, you can get such cosmetic dentistry treatments with the help of bone grafting surgery.
Generally, the growth of bones in our jaws are stimulated by the force produced while chewing our teeth.
In earlier days, doctors use a small portion of our bones taken anywhere from our body as grafts to stimulate the bone growth.
Nowadays, the grafts are taken from different sources like using synthetic materials, animal bones, bones taken from another person.
The grafts are used for surgery after sterilizing and removing all organic components to make mineral components only present in the grafts.
Bone Implant Market expanding at 6.8% CAGR by 2023, according to Global Bone Implant Market Analysis Report published by Market Research Future.
Global Bone Implant Industry Report analysis Market By Biomaterial, Product, Applications, Region with Forecast to 2023.Bone Implant Market OverviewThe global bone implant market is expected to rise at a CAGR of 6.8% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The global bone implant market is mainly driven by the growing technological advancement in bone implants, which has led to the availability of a number of viable options in the bone implants market, and the growing need for bone implant procedures around the world.
The rising prevalence of sports injuries and other bone injuries is also likely to be a major driver for the global bone implant market over the forecast period.Read more news on: https://www.medgadget.com/2019/08/global-bone-implant-market-is-getting-driven-by-rising-osteoarthritis-and-osteoporosis-cases-asserts-mrfr-unleashing-the-forecast-for-2018-2023.htmlRapid advancement of the technology around bone implants is likely to be a major driver for the global bone implant market over the forecast period.
With time, the global bone implants market has grown rapidly, leading to steady development of a number of products that can be viably used as bone implants.
Materials such as ceramics and polymers are likely to undergo extensive research in the coming years, leading to steady growth of the bone implant market.On the other hand, the high prices of orthopedic surgeries and bone implant products could hinder the global bone implant market’s growth over the forecast period.
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