What is the global market size of Bone Replacement Market?

Global Bone Replacement Market size was valued at USD 2.91 billion in 2021 and is poised to grow from USD 3.06 billion in 2022 to USD 4.94 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).

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

Q: What is the key market trend for Global Bone Replacement Market?

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.

Report ID: SQSG35A2065 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 91 | Figures: 76

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.

Bone Replacement Market Report Snapshots

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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).

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. '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)'

Increase in road accidents, aging population, and technological improvements in bone grafting devices are anticipated to drive the bone replacement market.

The 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.

North America accounted for the largest market share of the 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.

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Bone Replacement Market Dynamics

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