BONE REGENERATION MATERIAL MARKET ANALYSIS

The global bone regeneration material market is estimated to be valued at US$ 2.61 billion in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).

Analysts’ Views on Global Bone Regeneration Material Market:

Increasing demand for developing biocompatible bone grafts to reduce adverse reactions is driving the market growth. Also, increasing use of synthetic grafts with Hydroxyapatite (HAp) and Tricalcium Phosphate (TCP), which has shown better biocompatibility as compared to others, is another factor facilitating the adoption of biocompatible bone grafts. Thus, it offers the opportunity for various manufacturers to offer innovative surgical equipment that allows surgeons to perform such surgeries more efficiently.

Figure 1. Global Bone Regeneration Material Market Share (%), By Product Type, 2023

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Global Bone Regeneration Material Market– Drivers

• Increasing number of orthopedic surgeries: The increasing number of orthopedic surgeries is expected to propel  growth of the global bone regeneration material market over the forecast period. For instance, in 2022, the state of Sao Paulo registered 59% geriatrics in the Southeast region of Brazil, among which 51.4% for TKAs (total knee arthroplasties) and 63.8% for THAs (total hip arthroplasties).
• Rising incidence of road injuries: Rising incidence of road injuries are expected to increase demand for bone regeneration material, thereby driving the market growth. For instance, as per the United States Department of Transportation’s National Highway Traffic Safety Administration 2021 data, an estimated 20,160 traffic fatalities occurred in the first half of 2021 in the U.S., an increase of 18.4% from the previous year

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

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Global Bone Regeneration Material Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global bone regeneration material market over the forecast period. North America is estimated to hold 33.5% of the market share in 2023. The global bone regeneration material market is expected to witness significant growth in the coming years, driven by the high prevalence of orthopedic disorders and dysfunctions, favorable health reimbursement, and increased awareness. The increasing prevalence of joint disorders is contributing to the growth of the bone regeneration material market in the North America region. For instance, according to the October 2021 data published by the Centers for Disease Control and Prevention, about 78.4 million adults aged 18 years and older are expected to have doctor-diagnosed arthritis by 2040. Thus, the increasing number of joint disorders among the population is expected to increase the demand for bone grafting procedures to correct the altered bone or replace the inflammed or non-functional bone, thereby boosting the market growth over the forecast period.

Global Bone Regeneration Material 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 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 things from one place to another.

However, the COVID-19 pandemic had a positive impact on the global bone regeneration material market. The emergence of the COVID-19 pandemic had its impact on the bone graft and substitutes market due to the decline in visits to hospitals, ambulatory surgical centers, and dental clinics because of lockdown restrictions imposed by various governments globally. Due to these restrictions, non-emergency procedures were halted in the hospitals, which has impacted the patient's life. For instance, the American Dental Association (ADA) recommended that elective dental procedures be postponed until April 6, 2020, and dental practices should provide emergency-only dental services.

Global Bone Regeneration Material Market Segmentation:

The global bone regeneration material market report is segmented into by product type, by application and by region.

• By Product Type , the market is segmented into Xenogene Bone Materials, Partially Synthetic Materials, Synthetic Materials and Others. Out of which, Xenogene Bone Materials is expected to dominate the market over the forecast period, and this is attributed to increasing prevalence bone disorders.
• By Application, the market is segmented into orthopaedic surgery, bone trauma, dental surgery, and others. Out of which, orthopaedic surgery  expected to dominate the market over the forecast period, and this is attributed to increasing road accidents.

Among all the segmentation, the application segment is expected to dominate the market over the forecast period and this is attributed to increasing prevalence of bone disorders.

Global Bone Regeneration Material Market- Cross Sectional Analysis:

Key players are making bone regeneration material with advanced technology which is expected to boost demand for bone regeneration materials in the North America region. For instance, In February 2022, Orthofix Medical Inc., a global medical device company with a spine and orthopedics focus, announced the full market launch of OpusTM BA, a synthetic bioactive bone graft solution for cervical and lumbar spine fusion procedures.

Global Bone Regeneration Material Market: Key Developments

• In October 2022, Stryker, a medical technology company, announced the launch of the Monterey AL Interbody System, a stand-alone interbody fusion device designed for anterior lumbar interbody fusion (ALIF). Monterey AL is made up of both solid and porous structures within a single implant, leveraging Stryker’s proprietary Tritanium In-Growth Technology, a material designed to mimic cancellous bone and provide an environment favorable to bone regeneration and fusion
• In February 2022, Orthofix Medical a leading medical device company and provider of spinal, orthopedic, bone growth, and motion preservation products, launched a synthetic bioactive bone graft solution, Opus BA, a hydrated with autogenous bone marrow or autograft with saline, for cervical and lumbar spine fusion procedures. The solution can be used to fill gaps or voids in the skeletal system's bones and is available in putty and strip forms
• In November 2021, B. Braun, a medical and pharmaceutical device company in Germany, and REVA Medical, LLC., a leader in bioresorbable polymer technologies for vascular applications, announced  a strategic partnership for the distribution of Fantom Encore , a bioresorbable scaffold for coronary interventions manufactured with REVA's patented material Tyrocore. B. Braun started active distribution of the products in Germany and Switzerland.
• In August 2021, Exactech, a developer and producer of innovative implants, instrumentation, and smart technologies for joint replacement surgery, announced the expansion of its Truliant Total Knee System with a new porous-coated implant option for equipment surgery.
• In July 2021, Smith+Nephew, a medical technology company across Orthopaedics, Sports Medicine, ENT, and Advanced Wound Management, launched its real intelligence suite of enabling technology solutions, including its next-generation robotics platform, the CORI Surgical System, in India.

Global Bone Regeneration Material Market: Key Trends

Key Players Operating In Market Focusing On Product Expansion

The key players operating in market focusing on product expansion is expected to drive growth of the global bone regeneration material market over the forecast period. For instance, In August 2021, Exactech, a developer and producer of innovative implants, instrumentation, and smart technologies for joint replacement surgery, announced the expansion of its Truliant Total Knee System with a new porous-coated implant option for equipment surgery

Global Bone Regeneration Material Market: Restraint

Disadvantages associated with equipment surgery

Disadvantages associated with equipment surgery are expected to hinder market growth over the forecast period. For instance, according to the National Library of Medicine in February 2020, for the treatment of large, full-thickness chondral lesions in the knee, microdrilling surgery is performed, but this increases the cost burden on the patients as it requires a large number of post-operative bone marrow aspirations and knee injections, which are not covered by the medical insurance.

Key players are focusing on developing advanced products that are safe and cost-effective, which is expected to drive market growth over the forecast period.

Global Bone Regeneration Material Market - Key Players

Major players operating in the global surgical equipment market include Sigma Graft, NovaBone, B&B Dental, Stryker Corporation, J Morita USA, Kerr Restoratives, Septodont, Citagenix, Medtronic Plc, Smith Nephew, Integra Lifesciences Holdings Corporation, SeaSpine, Zimmer Biomet, Johnson and Johnson, Baxter International Inc., Integra Lifesciences Holdings Corporation, Orthofix Holdings Inc., Geistlich Pharma AG and Ethoss Regeneration Ltd.

Global Bone Regeneration Material Market– Definition

Most of the new artificial bone materials are composite materials. Synthetic materials include metal, bioceramic, and polymer chemical materials, among others. These materials have been widely used in bone regeneration. In recent years, applying nano-artificial bone materials has opened a new era of bone regeneration.