ARTIFICIAL BONE MARKET ANALYSIS

Artificial Bone MarketSize and Trends

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).

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

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

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.