USD 2.91 billion
Bone Replacement Market Size, Share, Growth Analysis, By Product Type(Hip, Knee, Extremities), By Material(Allografts, Autografts, Synthetic Materials, Bone Morphogenetic Proteins (BMPs)), By Age Group(Lesser Than 45 Years, 45-64 Years, Greater Than 65 Years), By Region - Industry Forecast 2024-2031
Report ID:
SQSG35A2065 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|Tables:
91
|Figures:
76
Bone Replacement Market Insights
Global Bone Replacement Market size was valued at USD 2.91 billion in 2019 and is poised to grow from USD 3.06 billion in 2023 to USD 4.94 billion by 2031, growing at a CAGR of 6.2% in the forecast period (2024-2031).
Bone replacement is a surgical treatment required for a variety of reasons, including the replacement of missing bone, the filling of gaps caused by specific accidents, and bone transplantation to repair and rebuild damaged bones. Additionally, bone replacement permits the replacement of bones in any area of the body. Knee, extremities, and hip replacements are among the few bone replacements easily accessible. The increasing prevalence of osteoarthritis drives the global expansion of bone replacement treatments. These operations require bone transplant alternatives such as allografts, autografts, and ceramics. However, with reducing procedure costs, shorter recovery times, and a better success rate of bone grafting, the global market for bone replacement has experienced a substantial increase in demand, which is expected to continue during the forecast period.
US Bone Replacement Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Knee
Fastest Growth
Knee
Growth Rate
6.2% CAGR
Global Bone Replacement Market 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Bone Replacement Market Segmental Analysis
The Global Bone Replacement Market is segmented based on product type, materials, age group, and region. Based on product type, the Bone Replacement Market is segmented into hip, knee, and extremities. Based on material, the Bone Replacement Market is segmented into allografts, autografts, synthetic materials, and bone morphogenetic proteins (BMPs). Based on age group, the Bone Replacement Market is segmented into lesser than 45 years, 45-64 years, and greater than 65 years. Based on region, the global Bone Replacement market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Bone Replacement Market Analysis by Product Type
Due to an increase in the prevalence of arthritis and a rise in knee injuries, it is anticipated that the knee bone replacement segment will grow at a remarkable rate throughout the projected period. In addition, the growing old aged population will drive the demand for knee replacement surgeries, hence propelling the growth of the bone replacement market throughout the analysis period.
Bone Replacement Market Analysis by Material
The allografts segment is predicted to register the highest growth rate during the forecast period. Increasing demand for allografts due to their unique properties, such as their ability to ease pain, restore movement, and assist patients in regaining normal functioning are some of the major factors driving the demand and propelling the bone replacement market growth.
Allografts are different from autografts as they come from a donor other than the recipient. This can also be employed as an alternative to autografts since they possess superior osteoconductive characteristics which are anticipated to drive the global bone replacement market during the analysis period.
Global Bone Replacement Market By Product Type, 2021 (%)
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Bone Replacement Market Regional Insights
North America accounted for the largest market share of the global bone replacement market in 2021 and is anticipated to increase steadily during the analysis period. This is due to the presence of a sizable senior population is the major reason for the regional market growth during the forecast period. According to the US Census Bureau, the United States has a massive population of more than 47 million people aged 60 or over, and this figure is anticipated to reach approximately 98.2 million by 2060. As the older population is more susceptible to bone problems, resulting in an increasing demand for bone replacement surgery this is propelling the demand for bone replacement procedures and driving the market growth during the analysis period.
Global Bone Replacement Market By Geography, 2022 - 2028
- Largest
- Fastest
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Bone Replacement Market Dynamics
Bone Replacement Market Driver
An increase in road accidents, an aging population, and technological improvements drive the market.
- Increase in road accidents, aging population, and technological improvements in bone grafting devices are anticipated to drive the bone replacement market.
- The Increasing number of patients and the rise in medical needs present lucrative growth prospects for the bone replacement sector during the forecast period.
Bone Replacement Market Restraint
Expensive bone replacement and ethical difficulties are the major restraints for the market.
- The high expense of bone replacement surgery and the ethical difficulties associated with bone grafting treatments function as key restraints for the market. These factors combine to make bone grafting techniques less desirable and slow down the market growth during the analysis period.
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Bone Replacement Market Competitive Landscape
The Bone Replacement market is relatively fragmented, with a high level of competition. Few large players, like AK Medical Holdings Ltd., Stryker Corporation, and Johnson & Johnson, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Bone Replacement Market Top Player’s Company Profiles
- Zimmer Biomet
- Stryker Corporation
- DePuy Synthes (Johnson & Johnson)
- Smith & Nephew
- Medtronic plc
- Wright Medical Group N.V.
- NuVasive, Inc.
- ConforMIS, Inc.
- Integra LifeSciences Corporation
- Aesculap Implant Systems (B. Braun Melsungen AG)
- DJO Global, Inc.
- Globus Medical, Inc.
- Arthrex, Inc.
- Baxter International Inc.
- Heraeus Holding GmbH
- Exactech, Inc.
- Materialise NV
- Evonik Industries AG
- Kyocera Corporation
- Japan Medical Dynamic Marketing, Inc. (JMDM)
Bone Replacement Market Recent Developments
- In September 2022, Smith+Nephew announced the OR3O Dual Mobility System in Japan for use in primary and revision hip arthroplasty. Dual mobility implants have a small-diameter femoral head that locks into a larger polyethylene insert, resulting in increased stability, less dislocation risk, and enhanced range of motion.
- In September 2022, stryker announced the launch of its Pulse Intelligent Delivery Platform which is a full-circle product and fulfillment platform tailored for high-volume foot and ankle treatments in the ambulatory surgery center (ASC) scenario. In addition, the company also introduced its Prophecy Footprint Surgical Planning, the first surgical planning tool to provide clinical guidance on the entire foot in conjunction with total ankle arthroplasty.
- In July 2022, Smith+Nephew introduced the WOUND COMPASS Clinical Support App. The WOUND COMPASS Clinical Support App is a complete digital support tool for health care providers that facilitates wound assessment and decision-making to reduce practice variation.
Bone Replacement Key Market Trends
- The global market for bone replacements is expanding at a rapid rate due to the increasing frequency of vehicle accidents globally. According to the WHO, in June 2021, more than 1.3 million people would die annually in road traffic accidents globally. One of the factors that drive the bone replacement market is the increasing prevalence of traffic collisions and accidents during the analysis period. Technological developments and product innovations are some of the key factors that drive the growth of the bone replacement sector during the analysis period.
Bone Replacement Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Knee, extremities, and hip replacements are among the few bone replacements easily accessible. The increasing prevalence of osteoarthritis drives the global expansion of bone replacement treatments. The allografts segment is predicted to register the highest growth rate during the analysis period. North America accounted for the largest market share of the global bone replacement market in 2021. According to the US Census Bureau, the United States has a massive population of more than 47 million people aged 60 or over. This figure is anticipated to reach approximately 98.2 million by 2060. This is due to the presence of a sizable senior population is the major reason for the regional market growth during the projection period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.91 billion |
| Market size value in 2031 | USD 4.94 billion |
| Growth Rate | 6.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Bone Replacement Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Bone Replacement Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Bone Replacement Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Bone Replacement Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Bone Replacement Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Bone Replacement Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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