NEW YORK, Sept. 1, 2023 /PRNewswire/ — The bone replacement market size is expected to grow by USD 5.611 billion from 2022 to 2027, progressing at a CAGR of  6.88% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. North America is estimated to account for 38% of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The robust growth of the global bone replacement market in North America is primarily attributed to several key factors. These include the widespread adoption of advanced knee implants, the enhancement of healthcare infrastructure, the elevated prevalence of knee and hip diseases along with associated risk factors, and the escalating number of knee and hip replacement surgeries in the region. These factors collectively contribute to the substantial expansion of the bone replacement market in North America. For more insights on the market share of various regions- Download sample report in MINUTES

Bone Replacement Market: Rise in the incidence of sports-related fractures

The rise in the incidence of sports-related fractures is notably driving the market growth. The bone replacement market is propelled by a prominent factor, namely the surge in sports-related fractures among individuals, including both children and athletes. The growing trend of early specialization in sports has led to a belief among parents that focusing on a single sport from a young age can enhance their children’s skills and performance. Consequently, this has resulted in an uptick in sports injuries among children participating in various sports such as football, baseball, soccer, basketball, and softball. A substantial portion of these injuries involves broken bones and stress fractures, thereby contributing significantly to the demand for bone replacement surgeries. These trends are expected to foster the growth of the global bone replacement market throughout the forecast period.

Bone Replacement Market: Rising number of new product launches and approvals

The rising number of new product launches and approvals is an emerging market trend. Companies operating in the global bone replacement market are increasingly favouring organic growth strategies, including the introduction of new products and obtaining regulatory approvals, to expand their global presence. This trend has led to a notable upswing in research and development (R&D) activities, resulting in a higher rate of product innovations. A case in point is Zimmer Biomet Holdings Inc., which announced in November 2022 that its Persona OsseoTi Keel Tibia had received clearance from the US FDA for cementless knee replacement. This underscores the ongoing need for these vendors to continuously innovate their product offerings to remain competitive in the market. As a result, these dynamics are anticipated to be key drivers of growth in the global bone replacement market throughout the forecast period.

To know about more drivers, trends along challenges – Download a sample now!

Some of the key Bone Replacement Market Players:

The bone replacement market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

AK Medical Holding Ltd., Arthrex Inc., B.Braun SE, Baumer, Baxter International Inc., Beijing Chunlizhengda Medical Instruments Co. Ltd., Conformis Inc., DJO Global Inc., Exactech Inc., Globus Medical Inc., Heraeus Holding GmbH, KYOCERA Corp., Medtronic Plc, Nuvasive Inc., Olympus Corp., Smith and Nephew plc, Stryker Corp., United Orthopedic Corp., Zimmer Biomet Holdings Inc., and Johnson and Johnson Services Inc.

 Buy the report!

Bone Replacement Market: Segmentation Analysis

This market research report segments the bone replacement market by product (Knee, Hip, and Extremities), material (Allografts, Autografts, Synthetic materials, and BMPs), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The knee segment is estimated to witness significant growth during the forecast period. The remarkable growth of the knee replacement segment within the global bone replacement market can be attributed to the escalating prevalence of knee-related disorders such as osteoarthritis and rheumatoid arthritis. This surgical intervention plays a pivotal role in offering a long-term remedy for individuals grappling with severe knee joint pain, restricted mobility, and inflammation. Among the most common knee replacement procedures is Total Knee Replacement (TKR), involving the replacement of all three compartments of the knee joint: the femur (thigh bone), the tibia (top of the shin bone), and the patella (under-surface of the kneecap) with joint implants. Given the high demand for TKR surgery implants, numerous manufacturers are significantly investing in the research and development of these solutions. Consequently, these factors are poised to fuel the expansion of this segment, thereby propelling the overall growth of the bone replacement market during the forecast period.

For additional information on the market contribution of each segment – Grab an Exclusive Sample Report

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports: 

The bone cement glue market size is estimated to grow at a CAGR of 5.54% between 2022 and 2027. The market size is forecast to increase by USD 493.86 million.

The bone cement market is estimated to decline at a CAGR of 5.31% between 2022 and 2027. The size of the market is forecast to increase by USD 449.08 million.

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Material

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bone-replacement-market-to-grow-by-usd-5-611-billion-from-2022-to-2027–north-america-to-contribute-38-of-the-market-growth—technavio-301915487.html

SOURCE Technavio

Featured image: © lbrfzhjpf.gmail.com

Disclaimer