Bone Replacement Market to Hit Sales of $22.15 Billion by 2028 | Elastic bone Replacement? Reality is Approaching Fast
Global bone replacement market was valued at USD 14.93 billion in 2021 and it is expected to reach at USD 22.15 billion by 2028, at a CAGR of 5.7% over the forecast period (2022-2028).
Westford,USA, Oct. 13, 2022 (GLOBE NEWSWIRE) — The incidence of osteoporosis, which leads to bones becoming weak and fragile, is on the rise. Currently, more 200 million people are suffering from osteoporosis. As per our study, 1 in 3 women above 50 are more likely to develop osteoporosis than men. As per WHO, the global prevalence of osteoporosis affects around 14% men and 18% women across the globe. At the same time, advances in medical technology have made it possible to replace damaged or missing bones with artificial ones. As a result, there is a growing demand for Bone Replacement Market.
There are several reasons for the increase in osteoporosis cases. One is the aging population; as people live longer, they are more likely to develop the condition. Currently, over 1 billion people are above 60 and the population is projected surpass 1.6 billion by 2050. Another is lifestyle; people who don’t get enough exercise and consume too much alcohol or caffeine are at greater risk. Finally, certain medications (such as corticosteroids) can contribute to the development of osteoporosis.
Bone replacement surgery can be used to treat osteoporosis-related fractures or to address other problems such as deformities or joint damage. In most cases, artificial joints made of metal or ceramic are used. The surgery can be performed on an outpatient basis, and recovery times vary depending on the individual procedure.
The report provides an in-depth analysis of the bone replacement market and its major segments, such as hip replacements, knee replacements, and others. It also analyzes the major drivers and restraints of the market and provides insightful information about the opportunities in this market.
The report includes a detailed competitive landscape of the bone replacement market, which provides an overview of the key players in the market and their respective market share.
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SkyQuest Says Bone Replacement Market is Poised for Strong Growth
Bone replacement is a common surgical procedure in which a bone is replaced with a synthetic or artificial implant. The most common reason for bone replacement surgery is to repair hips, knees, or other joints that have been damaged by arthritis or other conditions.
There are various types of bone replacement products available on the market, such as implants, scaffolds, and biologics. Implants are the most commonly used type of product, accounting for nearly 60% of the total market value in 2021. However, scaffolds and biologics are expected to grow at the fastest rates over the forecast period, due to their superior efficacy and lower risks of complications.
SkyQuest’s analysis of bone replacement market found that the average cost of the procedure varies widely depending on the type of implant used and the surgeon’s fee. The study also found that there are significant regional variations in the cost of bone replacement surgery, with procedures in the Northeast region of the US typically costing more than those in other regions.
Our study found that the current generation of bone replacement products is characterized by a high degree of customization and patient specific solutions. This trend is expected to continue in the future, as manufacturers focus on developing products that offer superior clinical outcomes for patients.
SkyQuest’s analysis predicts that North America will remain the largest bone replacement market, followed by Europe and Asia-Pacific. However, it is worth noting that Asia-Pacific is expected to see the fastest growth in this sector due to its large population and burgeoning middle class.
Companies operating in the global bone replacement market should therefore keep a close eye on trends in these key markets and position themselves accordingly to capitalize on this growing opportunity.
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3D Printing is Emerging as Promising Technology in Bone Replacement Market
According to a new report from SkyQuest, 3D printing is emerging as a promising technology in the bone replacement industry thanks to its ability to custom-fit patients. The ability to print bones with intricate geometries and mechanical properties that closely match those of natural bone makes 3D printing an attractive option for patients who require complex bone replacements. Moreover, it was found that 3D-printed implants are becoming more accurate and durable, and that the overall cost of 3D-printed implants is decreasing. In fact, 3D printing has the potential to revolutionize the bone replacement surgery, making it more efficient and affordable.
One company in the global bone replacement market that is already making use of 3D printing in the bone replacement industry is implant manufacturer Orthopedic Innovations Australia (OIA). OIA is using 3D-printed titanium implants to treat patients with osteoarthritis, bony defects, and other conditions. So far, the results have been very positive, with patients reporting significant improvements in pain and function.
One of the major factors behind the rapid growth in 3D-printed implants in the global bone replacement market is that they can be created specifically for each patient. This means that the implant will fit perfectly and there is no need for surgery to make adjustments. Additionally, 3D-printed implants can be made from a variety of materials, including metals, plastics, and ceramics. This gives surgeons a wide range of options when choosing an implant for their patients.
The technology is still in its early stages, but it has already shown great promise. With continued development, 3D printing may one day become the preferred method for producing bone implants and other medical devices.
Elastic bone Replacement? Reality is Approaching Fast
A team of researchers from the Lublin company, a key player in bone replacement market, have developed a new type of bone replacement that is elastic, which they say has the potential to revolutionize the way we treat fractures. The material, which is made from a hydroxyapatite, a calcium phosphate, can be injected into the body and molded to fit the shape of the damaged bone. Once in place, it acts as a scaffold for the natural regeneration process to take place.
The lead researcher on the project, Maciej Maniecki, President of Medical Inventi said: “This is a world-first in terms of creating an elastic bone replacement material that can be injected into the body and used to support fractured bones as they heal.” The next step is to carry out clinical trials on humans to see if it can provide a viable alternative to current treatments such as metal implants or bone grafts.
If successful, this technology could have a huge impact on the lives of millions of people who suffer from fractures each year. It could also reduce reliance on donor tissue for bone grafts, which is often in short supply.
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Top Players in Global Bone Replacement Market
- AK Medical Holdings Ltd. (China)
- B. Braun Melsungen (Germany)
- Enovis (US)
- Exactech, Inc. (US)
- Johnson & Johnson (US)
- Smith & Nephew Plc (UK)
- Stryker Corporation (US)
- United Orthopedic Corporation (US)
- Waldemar Link GmbH & Co. Kg (Germany)
- Zimmer Biomet Holdings Inc. (US)
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Global Ablation Devices Market
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