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Bone Replacement Market Size 2021: Share Estimation, Global Growth, In-Depth Players Analysis, Industry Trends, s Strategies, Future Investments, Supply Demand Scenario, Regional Forecast till 2027

Report Ocean presents a new report on bone replacement market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.

The bone replacement market size was estimated at more than US $14,317.10 million in 2020 and is expected to increase with the registered compound annual growth rate (CAGR) of 5.80% during the forecast period from 2021 to 2027.

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Bone replacement products are used as a substitute to fill gaps between bones. The products have application in bone surgical processes like replacing a particular section after a severe injury or tumor removal.

Due to the rise in traumatic injuries and the geriatric population, the demand for bone replacement products is growing constantly. Recent data from the International Osteoporosis Foundation worldwide states that 1 out of every 3 women above 50 years of age and 1 out of 5 men are likely to suffer osteoporotic fractures during their life. The data precisely depicts the growth in the bone replacement product requirement.

Apart from the rising geriatric population, the growing number of road accidents and advancements in specialized bone graft materials are anticipated to fuel the growth of the global bone replacement market. As per the report published by Association for Safe International Road Travel, there are around 20 to 50 million people worldwide, who suffer from bone injuries like bone dislocation, and fractures every year. Thus, the growing number of accidents and injuries will positively impact the market growth during the forecast timeframe.

The incline in medical requirements will develop profitable opportunities for the growth of the market. According to World Health Organization, the geriatric population is anticipated to increase by 250% in developing countries by 2050. Thereby, the global bone replacement market can see promising growth in developing regions.

The expensive cost of the bone replacement procedure and ethical issues are expected to hold back the market from growth.

COVID-19 Impact

The COVID-19 outbreak put a break in the manufacturing activities. The terror of Covid-19 infection and nationwide lockdowns forced several industries to put a pause in their activities for a certain period. Following that, the bone replacement market also experienced an abrupt decline in the business. Hospitals and clinics experienced a striking decline in the requirement of surgical procedures as healthcare systems focused more on curing COVID-19 patients. As a result, public health bodies preferred rescheduling or suspension of surgeries. Hospitals had to terminate orthopedic elective procedures including hip, knee, and spine replacement during the pandemic phase. UK-based NHS hospitals suspended all the surgeries to utilize resources in the treatment of COVID-19 cases. U.S. federal government also advised healthcare bodies to postpone non-urgent surgery procedures in the country.

Meanwhile, medical societies, surgeons, and patients who continued the elective surgeries even at the risk of infection are expected to register a slight growth in the market.

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Bone Replacement Market Regional Analysis

North America is projected to hold dominance in the global bone replacement market during the analysis period. The regional market would show promising growth in the upcoming years, owing to the large geriatric population in the state. The geriatric population is more likely to experience bone disorders.

As per the reports published by U.S. Census Bureau, the state has over 47.8 million geriatric population, which is projected to reach 98.2 million by 2060. Thus, a rise in the geriatric population is expected to grow the share of the region during the forecast period.

Key Market Segments

Product Type

Hip

Fixed Bearing Implants

Hybrid Total Hip Implants

Mobile Bearing Total Hip Implants

Total Hip Implant Fixation

Knee

Total Knee Replacement

Partial Knee Replacement

Extremities

Upper Extremities

Lower Extremities

By Material

Allografts

Autografts

Synthetic Materials

Bone Morphogenic Proteins (BMPs)

By Age Group

<45 Years

45-64 Years

65+ Years

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By Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Key Companies

Braun melsungen

Ak medical holdings limited (ak medical)

Colfax Corporation (djo global, inc.)

Johnson & Johnson (depuy synthes)

Smith & nephew plc

Waldemar link gmbh & co. Kg

United orthopedic corporation

Exactech inc

Stryker Corporation

Zimmer biomet holdings, Inc.

Other prominent players

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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