Bone Void Fillers Market to Record Robust CAGR 5.3% During 2028

05/giu/2020 11:38:10 persistencemarketresearch Contatta l'autore

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New York City, United States -- With the outbreak of COVID-19 in worldwide and stipulated lockdown, the healthcare sector is witnessing an unprecedented slowdown as per EY-FICCI study titled, ‘COVID-19 impact assessment for healthcare sector and key financial measures recommendations for the sector’. The study is predicated on an assessment of healthcare players within the country to assess the economic impact of the COVID-19 pandemic and provides recommendations on the fiscal stimulus measures it needs within the coming months.

 

According to a recent research by Persistence Market Research (PMR), the global bone void fillers market is likely to expand in terms of revenue at a healthy CAGR of 5.3% during the forecast period 2018-2028.

Increase in prevalence of orthopedic disorders such as spinal injuries, spinal deformity, and osteoporosis is among the primary factors contributing to the growth of the bone void fillers market. Geriatric population has been expanding rapidly and is expected to account for over 20% of the global population by 2050. The subsequent rise in prevalence of orthopedic conditions will boost the bone void fillers market in the near future, according to PMR’s report.

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Company Profile

  • Johnson and Johnson
  • Zimmer Biomet
  • Stryker Corporation
  • NuVasive®, Inc.
  • Wright Medical Group, Inc.
  • Hoya Corporation
  • B.Braun Melsungen AG
  • Heraeus Holding
  • Smith & Nephew plc

In addition, increase in the instances of trauma cases, lifestyle-related diseases, and other chronic disorders will continue to boost the number of orthopedic surgeries worldwide, propelling sales of bone void fillers in the upcoming years.

  • Approximately one in seven people suffers from orthopedic impairment issues, favoring the demand growth of bone void fillers.
  • An average orthopedic surgeon performs 29 procedures each month, predominantly in the sports medicine sector, followed by hand surgery and joint replacement.
  • Introduction of technologically advanced products continues to significantly accelerate the shift towards orthobiologic products such as bone void fillers.

Increase in the number of accidents and sports injuries is boosting the number of bone fractures, which is also expected to propel the demand for bone void fillers. Fractures are the second most frequently occurring sports injury in the US, for which bone void fillers are widely used.

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Fractures, followed by dislocations, account for around 20% of the overall sports injuries in the US alone, pushing demand for bone void fillers. In the European countries, a majority of sports injuries have been leading to bone fractures, creating significantly high demand for bone void fillers.

Approximately 14% of medically treated injuries are related to sports, in European countries, and the most common chronic sports injuries are underpinned by strains and stress fractures. This, according to the study, is another factor boosting the bone void fillers market growth.

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The demineralized bone segment is the leading segment in terms of revenue by material type in the bone void fillers market. Tricalcium phosphate is the most widely used material for filling the gaps of fractures. By form type, the paste and putty segment collectively holds more than 50% share in the global bone void fillers market value. Among all end users of the bone void fillers market, hospitals remain most lucrative, followed by ambulatory surgical centres.

North America is a prominent region in the global bone void fillers market, followed by Europe and East Asia in terms of revenue. China, India, and Brazil are also emerging lucrative in the bone void fillers market, as per the study. India is among the fastest-growing, highly attractive investment pockets for bone void fillers manufacturers and will expand at an impressive, double-digit CAGR over the forecast period, 2018-2028.

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