ARTIFICIAL BONE MARKET ANALYSIS

The global artificial bone market is estimated to be valued at US$ 1.53 Billion in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).

The increasing prevalence of osteoporosis is a key driver for the growth of the market over the forecast period (2023-2030). The rising number of product launches of artificial bones by the key players in the market is also expected to drive market growth over the forecast period.

Analysts’ Views on the Global Artificial Bone Market:

Major factors assisting the market growth during the forecast period include rising number of acquisitions by the key players in the market. For instance, in November 2020, Stryker Corporation acquired Wright Medical Group N.V, a global medical device company. The acquisition enhanced Stryker Corporation’s global market position in products for upper extremities (shoulder, elbow, wrist, and hand), lower extremities (foot and ankle), and biologics market segments, and also providing significant opportunities to advance innovation in medical products and reach more patients.

Figure no 1. Global Artificial Bone Market Share (%), By Material, 2023

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Global Artificial Bone Market - Drivers

• Increasing product launches by the key players: Increasing product launches by the key players in the market are expected to drive the growth of the market over the forecast period. For instance, in February 2022, Orthofix Medical Inc., a global medical device company with a spine and orthopedics focus, announced the launch of Opus BA, a synthetic bioactive bone graft solution for cervical and lumbar spine fusion procedures. Opus BA can be used to fill bone voids or gaps in the skeletal system.
• Increasing number of joint reconstruction surgeries: Increasing number of joint reconstruction surgeries is expected to drive the growth of the market over the forecast period. For instance, according to the data published in January 2022, by National Library of Medicine, in the U.S. about 2.4 Million hip and knee surgeries were performed in 2020.

Figure 2. Global Artificial Bone Market Share (%), By Region, 2023

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Global Artificial Bone Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global artificial bone market over the forecast period. The global artificial bone market is expected to witness significant growth in the near future, driven by increasing adoption of inorganic growth strategies such as acquisition by key players in the market. For instance, in December 2020, Collagen Matrix, Inc., a medical device company offering tissue repair and regeneration devices, announced the acquisition of Sunstar Suisse S.A., a medical device company’s degradable solutions division, including its GUIDOR-branded line of resorbable synthetic medical implants.

Global Artificial Bone Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, are facing problems with the transportation of products from one place to another.

Due to the limitations enforced by many countries such as U.S., India, U.K. around the world, the COVID-19 pandemic had an effect on the artificial bone market by reducing the number of patients visiting hospitals, ambulatory surgery facilities, and dental clinics. These limitations caused the hospitals to stop performing non-emergency surgeries, which had an effect on the patient's life. For instance, the American Dental Association (ADA) advised dental offices to only offer emergency dental services and to postpone elective dental procedures until April 6, 2020.

Global Artificial Bone Market Segmentation:

The global artificial bone market is segmented by material, application, end user, and region.

• By material: the market is segmented into ceramics, composite, polymer, hydroxyapatite and others. Out of which, the composite segment is expected to hold a dominant position in the global artificial bone market during the forecast period, and this is attributed to the increasing adoption of inorganic growth strategies such as agreements by the key players in the market. For instance, in March 2022, Biocomposites, a global medical devices company that engineers, manufactures, and markets products for regenerating bone and managing infection in bone and soft tissue, announced that it have entered into a agreement with Zimmer Biomet, a global medical technology company, to exclusively distribute genex Bone Graft Substitute with its new mixing system and delivery options in the U.S. orthopaedic market. Genex Bone Graft Substitute is a biphasic composite of outstanding purity that is designed to balance the strength and persistence of an osteoconductive scaffold in the body in order to promote the best remodeling of bone architecture.
• By application: the market is segmented into spinal fusion, dental, craniomaxillofacial, joint reconstruction and trauma and extremities. Out of which, dental segment is expected to dominate the market over the forecast period, and this is attributed to the increasing product launch by the key players in the market. For instance, in August 2022, Orthofix Medical Inc., a global medical device company with a spine and orthopedics focus, announced a strategic partnership agreement with CGBio. The two companies will work together for clinical development and commercialization of Novosis recombinant human bone morphogenetic protein-2 (rhBMP-2) bone growth materials and other future tissue regenerative solutions for the U.S. and Canadian markets.
• By end user: the market is segmented into hospitals, specialty clinics and research and academic institutes. Out of which, hospitals is expected to dominate the market over the forecast period, and this is attributed to the increasing number of dental clinics. For instance, according to data published on August 12, 2023, by SmartScrapers, a web scraping service company, in the U.S., there are a total of 69919 dental hospitals in 2023.
• Among all the segments, the material segment is expected to dominate the market over the forecast period, and this is attributed to the increasing in the adoption of development of innovative products. For instance, according to data published in September 2022 by The First News, Medical Inventi, a biotechnology research and development company, looked into revolutionizing the field of global orthopaedics and trauma surgery with the world’s first elastic bone replacement composite made of hydroxyapatite, a calcium phosphate. The next-generation FlexiOss is a synthetic bone used for orthopaedic applications.

Global Artificial Bone Market - Cross Sectional Analysis:

Increasing product launches by the key players in the market are also expected to boost demand of the global artificial bone market in North America. For instance, on January 10, 2023, OssDsign AB, a designer and manufacturer of implants and material technology for bone regeneration, announced the launch of a new size of OssDsign Catalyst in the U.S. market.

Global Artificial Bone Market: Key Developments

On June 6, 2023, Biocomposites announced the acquisition of ARTOSS GmbH, a specialist manufacturer of bone graft substitutes for use in orthopaedics, spine, foot and ankle, and dentistry. ARTOSS GmbH, will offer its NanoBone technology, along with other products like SBX Putty, to Biocomposites global distribution network, allowing them to reach surgeons and patients in over 40 countries.                  

In November 2020, OssDsign AB announced the signing of an agreement to acquire the privately held Scottish bone graft specialist company Sirakoss Ltd. The acquisition broadens OssDsign AB’s product portfolio with the 510(k)-cleared Osteo3 ZP Putty, a next-generation synthetic bone graft substitute for use in orthopaedic surgery.

In January 2020, Halma plc, a technology company, announced the acquisition of NovaBone Products, LLC, a designer and manufacturer of US FDA-approved synthetic bone graft products.  

On January 20, 2023, Nobel Biocare, a provider of dental implant systems, in partnership with Mimetis Biomaterials S.L., a biomedical company, announced the launch of Creos Syntogain, a biomimetic bone graft substitute.

Global Artificial Bone Market: Key Trends

• Increasing adoption of inorganic growth strategies such as acquisitions: Increasing adoption of inorganic growth strategies, such as acquisitions, by the key players in the market is expected to drive the growth of the market over the forecast period. For instance, in April 2022, The Aspen Group, a healthcare provider, and ACE Surgical Supply, a global provider of bone regenerative products, announced a multi-year strategic partnership for bone grafting solutions. As part of the partnership, ACE Surgical Supply will support The Aspen Group's large network of offices with a broad range of bone grafting and membrane solutions.

Global Artificial Bone Market: Restraint

• Low mechanical strength of artificial bones: The growth of the global artificial bone market is expected to be hampered over the forecast period owing to the low mechanical strength and less osteogenic properties of the artificial bone materials. For instance, according to data published in April 2020, synthetic or artificial materials (ceramics, composites, polymers) used in bone fractures and other surgeries have various disadvantages, such as immunogenic response, microbial contamination (i.e., endotoxin), reduced tunability, uncontrollable degradation rate, and weak mechanical strength, which limit their application in bone tissue regeneration.
• Counterbalance: The preparation of ideal bone substitutes with good biocompatibility and biodegradability to repair bone defects has become the focus. Therefore, the development of materials with proper mechanical properties without affecting biological compatibility has become an important subject.

Global Artificial Bone Market - Key Players

The major 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, DSM, OssDsign AB, and Halma plc.                   

*Definition: Artificial bone refers to bone-like material created in a laboratory that can be used in bone grafts to replace human bone that is lost due to severe fractures, disease, and others.