Chat with us, powered by LiveChat

Loading...

Bone Replacement Market Report

RA00904

Bone Replacement Market by Product (Knee, Hip, and Extremities), Material (Allografts, Autografts, Synthetic Material, and Bone Morphogenetic Proteins (BMPs)), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

RA00904

Pages: 180

Nov 2021

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Bone Replacement Market

Global Bone Replacement Market Analysis

The global bone replacement market size is predicted to garner $27,643.10 million in the 20212028 timeframe, growing from $ 16,400.00 million in 2020, at a healthy CAGR of 7.00%. 

Market Synopsis

Strategic alliances among market players, along with growing demands for bone replacement across the globe, are expected to accelerate the growth of the bone replacement market.

However, higher cost of bone replacement along with lack of proper reimbursement in surgery procedures are some of the growth-restricting factors for the market.

According to the regional analysis, the Asia-Pacific bone replacement market size is anticipated to grow during the review period and generate revenue of $6,192.10 million, with CAGR of 7.60% due to increasing geriatric population in the region.   

Bone Replacement Overview

Bone replacement is the surgical procedure that is needed for various reasons such as missing of bone, filling of gaps due to certain accidents, and bone transplantation to repair and rebuild damaged bones. Also, bone replacement allows replacement of bones in any part of the body. Some of the few bone replacements are knee, extremities, and hips.

Covid-19 Impact on Bone Replacement Market Shares

The novel coronavirus pandemic had a devastating effect on several industries. The global bone replacement market experienced a notable decline in growth during this period. Bone replacement market growth was affected due to delaying or rescheduling in surgery procedures throughout the pandemic. Also, ongoing restrictions in hospitals decreased the market for bone replacement.

However, many countries are working dedicatedly to support patients during pandemic and performing essential bone replacement and other surgeries. For instance, in October 2020, NHS hospitals in UK announced postponement of all surgeries that were non-urgent or non-essential for three months. In addition to this, U.S. federal government and American College of Surgeons advised the hospitals for postponing the surgeries within the country. The above-stated factors show that the pandemic may have affected the market but resuming all surgeries removing lockdowns from countries will ultimately increase the sustainable opportunities for bone replacement market in the coming years.

Increasing Prevalence of Orthopedic Surgeries and Musculoskeletal Illnesses (MSD) to Surge the Market Growth

The global bone replacement industry is witnessing a massive growth mainly due to increasing instances of musculoskeletal illnesses (MSD) and orthopedic surgeries across the globe. Also, more than 3 million people in the US are getting operated for musculoskeletal illnesses (MSD). Along with this, according to a report article by the State of Musculoskeletal Health, in 2019, in UK, more than 8.75 million people were aged between 45 years and approximately 33% of them suffered from osteoarthritis. All such aspects may boost expansions to fuel growth of the global bone replacement market.

Furthermore, according to Arthritis Foundation statistics, in 2017, more than 30.8 million adults suffered from osteoarthritis in the United States, and approximately 14 million individuals suffered from symptomatic knee osteoarthritis. In addition to this, they estimated that approximately 130 million people across the world will be affected by osteoarthritis by 2050. These types of factors are predicted to drive the growth of the market.

To know more about global bone replacement market trends, drivers, get in touch with our analysts here.

High Cost of Bone Replacement to Restrain the Market Growth

Bone replacement is very costly as compared to other surgeries. Along with this, in countries such as China, India, and other developing countries, medical insurances do not cover the expensive procedures of bone replacement. These are some of the factors anticipated to hinder the market value of the bone replacement in the next few years.  

Rising Number of Road Accidents along with Technological Advancements in Bone Graft Devices to Create Massive Investment Opportunities

The global bone replacement market is spreading at a very fast pace due to increasing number of road accidents across the globe. According to WHO (World Health Organization), in June 2021, approximately 1.3 million people worldwide die each year in road traffic crashes. Thus, the growing rate of road crashes and accidents is one of the factors that will escalate bone replacement business in the upcoming years. Moreover, technological advancements and product innovations are some of the factors that are positively affecting the bone replacement market growth.

Furthermore, bone replacement industry already has leading market players innovating strategies to attract customers. For example, in October 2019, DePuy Synthes, franchise of orthopedic and neurosurgery companies, announced that they launched ATTUNE Cementless Knee across the globe; this ATTUNE Cementless Knee offers better stability and features novel cementless technology. All such aspects may further lead to lucrative market opportunities for key players in the upcoming years.

To know more about global bone replacement market trends, opportunities, get in touch with our analysts here.

Bone Replacement Market
By Product

Your browser does not support the canvas element.

Based on product, the market has been divided into Knee, hip, and extremities sub-segments of which the Knee replacement sub-segment is projected to generate the maximum revenue as well as show the fastest growth. Download PDF Sample Report

Source: Research Dive Analysis

The knee replacement type sub-segment is predicted to have a dominating as well as fastest market growth in the global market. The sub-segment is expected to register a revenue of $12,900.10 million during the forecast period. Knee replacement sub-segment will grow at immense pace over the projected period owing to growing prevalence of arthritis that will increase the knee injuries and will ultimately boost the demand for knee replacement sub-segment. Moreover, center for orthopedic and neurological care and research revealed that number of total knee replacement surgeries is expected to increase by 673% to 3.5 million surgical procedures by 2030. These factors and strategic alliances may bolster the growth of the sub-segment during the forecast period and bone replacement market demand.  

Bone Replacement Market
By Material

Your browser does not support the canvas element.

On the basis of material, the market has been sub-segmented into Allografts, autografts, synthetic material, and bone morphogenetic protein sub-segments. Among the mentioned sub-segments, the Allografts sub-segment is predicted to show the fastest as well as dominant market share.

Source: Research Dive Analysis

The allografts sub-segment of the global bone replacement market growth is projected to have the dominant share. It is also projected to surpass $11,567.60 million by 2028, with an increase from $6,469.30 million in 2020. This growth in the market can be attributed to growing demand for allografts due to their characteristics such as restore mobility, reduce pain and may also help patients regain their normal functions. All such elements may increase the demand for sub-segment and bone replacement market demand. 

Bone Replacement Market
By Region

Your browser does not support the canvas element.

The bone replacement market share was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Source: Research Dive Analysis

The Market for Bone Replacement in North America to be the Most Dominant

The North America bone replacement market accounted $6,543.60 million in 2020 and is projected to register a revenue of $11,444.20 million by 2028. The extensive growth of the North America bone replacement market is mainly driven by higher road accidents owing to presence of large portion of geriatric population with existence of top leading companies augmenting the industry growth in the region. Moreover, growing demands for bone replacement across US is one of the factors that is fueling the market growth across the globe. These factors will ultimately drive the demand in the bone replacement market across the region.   

The Market for Bone Replacement in Asia-Pacific to be the Fastest Growing

The share of Asia-Pacific bone replacement market is expected to rise at a CAGR of 7.60%, by registering a revenue of $6,192.10 million by 2028. The growth shall be a result of rising demand for rising medical tourism along with favorable government initiatives and growing incidences of bone grafting. Such aspects may bolster the demand for bone replacement market, in the upcoming years.

Competitive Scenario in the Global Bone Replacement Market

Product launches and mergers & acquisitions are common strategies followed by major market players.

Competitive Scenario in the Global Bone Replacement Market

Source: Research Dive Analysis

Some of the leading bone replacement market players are Johnson & Johnson (Depuy Synthes), B. Braun Melsungen, AK Medical Holdings Limited (AK Medical), Zimmer Biomet Holdings, Inc., United Orthopedic Corporation, Stryker Corporation, Waldemar Link GmbH & Co. Kg, Colfax Corporatio, Exactech Inc., and Smith & Nephew Plc.

Porter’s Five Forces Analysis for the Global Bone Replacement Market:

  • Bargaining Power of Suppliers: The product suppliers of bone replacement market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
    Thus, the bargaining power of suppliers is low. 
     
  • Bargaining Power of Buyers: Buyers demand different types of bone replacement that are of different materials and are advanced. This has increased the pressure on the bone replacement providers to offer the best bone replacement surgeries. This gives the buyers the option to freely choose bone replacement that best fits their preference.
    Thus, the bargaining power of the buyers is high. 
  • Threat of New Entrants: Companies entering the bone replacement market are adopting various innovations such as developing bone replacement that are available in various innovation and government approved.
    Thus, the threat of the new entrants is moderate.
  • Threat of Substitutes: There are no substitute available for bone replacement. Although there are fewer treatments that could be performed before deciding to opt for bone replacement, some people still need urgent bone replacement surgeries.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Depuy Synthes and Stryker Corporation. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
    Therefore, competitive rivalry in the market is high.

Aspect

Particulars

  Historical Market Estimations

  2019-2020

  Base Year for Market Estimation

  2020

  Forecast Timeline for Market Projection

  2021-2028

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Product

  • Knee
  • Hip
  • Extremities

  Segmentation by Material

  • Allografts
  • Autografts
  • Synthetic Material
  • Bone Morphogenetic Protein

  Key Companies Profiled

  • Johnson & Johnson (Depuy Synthes)
  • B. Braun Melsungen
  • AK Medical Holdings Limited (AK Medical)
  • Zimmer Biomet Holdings, Inc.
  • United Orthopedic Corporation
  • Stryker Corporation
  • B. Braun Melsungen
  • Colfax Corporatio
  • Exactech Inc.
  • Smith & Nephew Plc.

Frequently Asked Questions
 

A. The size of the global bone replacement market was over $16,400.00 million in 2020 and is projected to reach $27,643.10 million by 2028.

A. Zimmer Biomet Holdings, Inc. and Depuy Synthes are some of the key players in the global bone replacement market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific bone replacement market is anticipated to grow at 7.60% CAGR during the forecast period.

A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.

1. Research Methodology

1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters

1.4.1. Assumptions
1.4.2. Forecast parameters

1.5. Data sources

1.5.1. Primary
1.5.2. Secondary

2. Executive Summary

2.1. 360° summary
2.2. By product  trends
2.3. By material trends

3. Market overview

3.1. Market segmentation & definitions
3.2. Key takeaways

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. Porter’s five forces analysis

3.3.1. Bargaining power of consumers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of new entrants
3.3.4. Threat of substitutes
3.3.5. Competitive rivalry in the market

3.4. Market dynamics

3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities

3.5. Technology landscape
3.6. Regulatory landscape
3.7. Patent landscape
3.8. Market value chain analysis

3.8.1. Stress point analysis
3.8.2. Raw material analysis
3.8.3. Manufacturing process
3.8.4. Material analysis
3.8.5. Operating vendors

3.8.5.1. Raw material suppliers
3.8.5.2. product  manufacturers
3.8.5.3. product  distributors

3.9. Strategic overview

4. Bone Replacement Market, by Product 

4.1. Overview

4.1.1. Market size and forecast, by product 

4.2. Knee

4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region, 2020-2028
4.2.3. Market share analysis, by country 2020 & 2028

4.3. Hip

4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region, 2020-2028
4.3.3. Market share analysis, by country 2020 & 2028

4.4. Extremities

4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast, by region, 2020-2028
4.4.3. Market share analysis, by country 2020 & 2028

5. Bone Replacement Market, by Material

5.1. Overview

5.1.1. Market size and forecast, by Material

5.2. Allografts

5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region, 2020-2028
5.2.3. Market share analysis, by country 2020 & 2028

5.3. Autografts

5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region, 2020-2028
5.3.3. Market share analysis, by country 2020 & 2028

5.4. Synthetic Material

5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast, by region, 2020-2028
5.4.3. Market share analysis, by country 2020 & 2028

5.5. Bone Morphogenetic Proteins (BMPs)

5.5.1. Key market trends, growth factors, and opportunities
5.5.2. Market size and forecast, by region, 2020-2028
5.5.3. Market share analysis, by country 2020 & 2028

6. Bone Replacement Market, by Region

6.1. Overview

6.1.1. Market size and forecast, by region

6.2. North America

6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by product , 2020-2028
6.2.3. Market size and forecast, by Material, 2020-2028
6.2.4. Market size and forecast, by country, 2020-2028

6.2.5. U.S.

6.2.5.1. Market size and forecast, by product , 2020-2028
6.2.5.2. Market size and forecast, by Material, 2020-2028

6.2.6. Canada

6.2.6.1. Market size and forecast, by product , 2020-2028
6.2.6.2. Market size and forecast, by Material, 2020-2028

6.2.7. Mexico

6.2.7.1. Market size and forecast, by product , 2020-2028
6.2.7.2. Market size and forecast, by Material, 2020-2028

6.3. Europe

6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by product , 2020-2028
6.3.3. Market size and forecast, by Material, 2020-2028
6.3.4. Market size and forecast, by country, 2020-2028

6.3.5. Germany 

6.3.5.1. Market size and forecast, by product , 2020-2028
6.3.5.2. Market size and forecast, by Material, 2020-2028

6.3.6. UK

6.3.6.1. Market size and forecast, by product , 2020-2028
6.3.6.2. Market size and forecast, by Material, 2020-2028

6.3.7. France

6.3.7.1. Market size and forecast, by product , 2020-2028
6.3.7.2. Market size and forecast, by Material, 2020-2028

6.3.8. Spain

6.3.8.1. Market size and forecast, by product , 2020-2028
6.3.8.2. Market size and forecast, by Material, 2020-2028

6.3.9. Italy 

6.3.9.1. Market size and forecast, by product , 2020-2028
6.3.9.2. Market size and forecast, by Material, 2020-2028

6.3.10. Rest of Europe

6.3.10.1. Market size and forecast, by product , 2020-2028
6.3.10.2. Market size and forecast, by Material, 2020-2028

6.4. Asia Pacific

6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by product , 2020-2028
6.4.3. Market size and forecast, by Material, 2020-2028
6.4.4. Market size and forecast, by country, 2020-2028

6.4.5. China

6.4.5.1. Market size and forecast, by product , 2020-2028
6.4.5.2. Market size and forecast, by Material, 2020-2028

6.4.6. Japan

6.4.6.1. Market size and forecast, by product , 2020-2028
6.4.6.2. Market size and forecast, by Material, 2020-2028

6.4.7. India 

6.4.7.1. Market size and forecast, by product , 2020-2028
6.4.7.2. Market size and forecast, by Material, 2020-2028

6.4.8. South Korea

6.4.8.1. Market size and forecast, by product , 2020-2028
6.4.8.2. Market size and forecast, by Material, 2020-2028

6.4.9. Australia 

6.4.9.1. Market size and forecast, by product , 2020-2028
6.4.9.2. Market size and forecast, by Material, 2020-2028
6.4.9.3. Comparative market share analysis, 2020 & 2028

6.4.10. Rest of Asia Pacific

6.4.10.1. Market size and forecast, by product , 2020-2028
6.4.10.2. Market size and forecast, by Material, 2020-2028

6.5. LAMEA

6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, by product , 2020-2028
6.5.3. Market size and forecast, by Material, 2020-2028
6.5.4. Market size and forecast, by country, 2020-2028

6.5.5. Latin America  

6.5.5.1. Market size and forecast, by product , 2020-2028
6.5.5.2. Market size and forecast, by Material, 2020-2028

6.5.6. Middle East 

6.5.6.1. Market size and forecast, by product , 2020-2028
6.5.6.2. Market size and forecast, by Material, 2020-2028

6.5.7. Africa

6.5.7.1. Market size and forecast, by product , 2020-2028
6.5.7.2. Market size and forecast, by Material, 2020-2028

7. Company profiles

7.1. Johnson & Johnson (Depuy Synthes)

7.1.1. Company overview
7.1.2. Operating business segments
7.1.3. Product portfolio
7.1.4. Financial Performance
7.1.5. Recent strategic moves & developments

7.2. B. Braun Melsungen

7.2.1. Company overview
7.2.2. Operating business segments
7.2.3. Product portfolio
7.2.4. Financial Performance
7.2.5. Recent strategic moves & developments

7.3. AK Medical Holdings Limited (AK Medical)

7.3.1. Company overview
7.3.2. Operating business segments
7.3.3. Product portfolio
7.3.4. Financial Performance
7.3.5. Recent strategic moves & developments

7.4. Zimmer Biomet Holdings, Inc.

7.4.1. Company overview
7.4.2. Operating business segments
7.4.3. Product portfolio
7.4.4. Financial Performance
7.4.5. Recent strategic moves & developments

7.5. United Orthopedic Corporation

7.5.1. Company overview
7.5.2. Operating business segments
7.5.3. Product portfolio
7.5.4. Financial Performance
7.5.5. Recent strategic moves & developments

7.6. Stryker Corporation

7.6.1. Company overview
7.6.2. Operating business segments
7.6.3. Product portfolio
7.6.4. Financial Performance
7.6.5. Recent strategic moves & developments

7.7. Waldemar Link GmbH & Co. Kg,

7.7.1. Company overview
7.7.2. Operating business segments
7.7.3. Product portfolio
7.7.4. Financial Performance
7.7.5. Recent strategic moves & developments

7.8. Colfax Corporatio

7.8.1. Company overview
7.8.2. Operating business segments
7.8.3. Product portfolio
7.8.4. Financial Performance
7.8.5. Recent strategic moves & developments

7.9. Exactech Inc.

7.9.1. Company overview
7.9.2. Operating business segments
7.9.3. Product portfolio
7.9.4. Financial Performance
7.9.5. Recent strategic moves & developments

7.10. Smith & Nephew Plc.

7.10.1. Company overview
7.10.2. Operating business segments
7.10.3. Product portfolio
7.10.4. Financial Performance
7.10.5. Recent strategic moves & developments

Bone replacement is a surgical procedure that are carried out bone transplantation so as to repair or rebuild damaged bones, fill the gap or take the place of an entire section in case of certain accidents or after tumor removal, missing of a bone, and others. The implants are usually made from plastics, metal, ceramic, or even a combination of different materials. They significantly improve mobility and enhance the quality of life, apart from being economical when compared to non-operative treatments.

Forecast Analysis of the Global Bone Replacement Market

Growing prevalence of orthopedic surgeries coupled with increasing cases of musculoskeletal diseases (MSD) across the globe is expected to drive the growth of the market during the forecast period. In addition, rising number of road accidents across the globe along with persistent technological enhancements in bone draft devices are further expected to create immense opportunities for the growth of the bone replacement market during the forecast period. However, extortionate cost of bone replacement procedure is expected to hinder the growth of the market during the forecast period.

According to the report published by Research Dive, the global bone replacement market is expected to generate a revenue of $27,643.10 million by 2028, growing exponentially at a CAGR of 7.00% during the forecast period 2021-2028. The major players of the market include Johnson & Johnson (Depuy Synthes), AK Medical Holdings Limited, United Orthopedic Corporation, Stryker Corporation, Exactech Inc., Colfax Corporation, Smith & Nephew Plc, Waldemar Link GmbH & Co. Kg, B. Braun Melsungen, Zimmer Biomet Holdings, Inc., and many more.

Key Developments

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global bone replacement market to grow exponentially.

For instance, in November 2020, OssDsign, a Swedish medical technology company specializing in regenerative implants for improved healing of bone defects, acquired Sirakoss, a global manufacturer of bone graft substitutes in all cash transaction of USD $11 million, excluding milestone and royalty payments, which will significantly provide strengthen OssDsign’s presence with a five times larger addressable market than it presently holds.

In July 2021, Zimmer Biomet Holdings, Inc., a global leader in musculoskeletal healthcare, announced a partnership with OSSIS, a New Zealand-based company focused on complex hip replacements and replacement involving bone tumors and trauma, in order to serve as the exclusive Asia Pacific distributor for Zimmer’s patient-specific 3D printed titanium hip replacement joints.

In September 2020, Smith & Nephew Plc, a British multinational medical equipment manufacturing company, acquired the extremity orthopedics business of Integra LifeSciences, a New jersey-based medical device manufacturing company, for $240 million in order to enable Smith & Nephew to control and manage a portfolio of shoulder replacement products and other devices.

Most Profitable Region

The North America region is expected to be most profitable, and generate a revenue of $11,444.20 million during the forecast period. High number of road accidents coupled with the increasing demand for bone replacements in this region is expected to drive the growth of the market during the forecast period. In addition, huge number of geriatric populations in this region is further expected to accelerate the growth of the regional bone replacement market during the forecast period.

COVID-19 Impact on the Market

The outbreak of coronavirus has had an adverse impact on the growth of the global bone replacement market, owing to the occurrence of lockdowns in various countries across the globe. Entanglement with the rising covid-19 infections among people and stringent lockdown restrictions resulted in delaying and rescheduling of surgical procedures in hospitals and clinics across the globe during the pandemic. Thus, the novel coronavirus pandemic has had a negative impact on the market.

Purchase Options

Personalize this research

  • Triangulate with your own data
  • Request your format and definition
  • Get a deeper dive on a specific application, geography, customer or competitor
10% Off on Customization
Contact Us

Customers Also Viewed