SEATTLE, July 28, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global artificial bone market 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).
The increasing number of product launches is expected to drive the growth of global artificial bone market. For instance, in August 2020, Xtant Medical Holdings, Inc., a global medical technology company focused on surgical solutions for the treatment of spinal disorders, announced the U.S. commercial launch of the Matriform Si, a silicated synthetic bone graft strip designed for spinal fusion procedures. The Matriform Si Strip is prepared from Beta-tricalcium phosphate (β-TCP) and porcine collagen for its intended use in filling and bridging degenerative or traumatic bone defects.
Similarly, in December 2020 OrthoPediatrics Corp., a company focused exclusively on advancing the field of pediatric orthopedics, announced the U.S. launch of QuickPack, a fully synthetic bone graft substitute featuring a high viscosity, calcium phosphate cement that closely mimics the mineral phase of natural bone.
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Moreover, increasing bone grafting surgeries is expected to drive growth of the global artificial bone market over the forecast period. For instance, according to a statistical review by Ortho Bullets in 2016, around one million bone grafting procedures are performed in the U.S. every year and the number is estimated to increase by 13% every consecutive year.
The increasing number inorganic growth strategies such as collaborations by key players is expected to drive growth of the market over the forecast period. For instance, in October 2017, DSM Biomedical and Cerapedics, a privately-held orthobiologics company, announced the collaboration to develop and manufacture the next generation peptide enhanced bone grafts, which can be used as synthetic bone substitute in bone diseases/bone fractures.
Key Market Takeaways:
Spinal fusion segment among application is expected to account for largest share in global artificial bone market and is estimated to exhibit a CAGR of 6.1% during the forecast period (2021-2028), owing to the increasing number product launches is expected to contribute to the growth of the spinal fusion segment. For instance, in May 2016, NuVasive, Inc., a leading medical device company focused on transforming spine surgery with minimally disruptive, procedurally-integrated solutions, announced the U.S. launch of the newest solution in its biologics portfolio, AttraX Putty.
Among regions, North America is expected to account for largest share in global artificial bone market and is expected to exhibit a CAGR of 5.7% during the forecast period (2021-2028), owing to the increasing number of prevalence of bone damage in the region. For instance, according to the Ohio State University, around 6.3 million cases of bone fractures are recorded every year in the U.S. Moreover, fractures account for 16% of all musculoskeletal injuries in the U.S. annually.
The increasing prevalence of osteoporosis is expected to drive the global artificial bone market. For instance, according to the World Health Organization report 2018, the prevalence of osteoporosis was around 14.5% in men and 18% in women, and 5.7% in men and 12.7% in postmenopausal women at the hip in 2018 globally.
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Key players operating in the global artificial bone 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.
Global Artificial Bone Market, By Material:
Global Artificial Bone Market, By Application:
Trauma and Extremities
Global Artificial Bone Market, By End User:
Global Artificial Bone Market, By Region:
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Rest of Middle East
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