Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The Bone Void Fillers Market to Generate USD 3.90 Billion by 2027 Owing to Increasing Prevalence of Bone-Associated Disease, with stunning 5.4% CAGR by 2021-2027. Adoption of Technologically Advanced Products Globally to Surge Demand. Biocomposites Receiving CE Mark from The European Union to Create Exponential Growth Opportunities
Industry Development:
- In September 2018, US-based Baxter International Inc. obtained clearance from U.S. Food and Drug Administration or FDA for ALTAPORE Bioactive Bone Graft. This medical invention is a next generation osteoconductive and bioactive substitute of bone grafts.
- In 2019, Medtronic plc introduced Grafton demineralized bone matrix (DBM) bone grafting product to the Japanese market. Grafton DBM is the first of its kind demineralized bone matrix product that is made available in Japan.
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Scope Of The Report:
- Historical Years: 2016-2018
- Base Year: 2019
- Forecast Period: 2020–2027
Drivers and Restraints:
- Rising demand, coupled with increased awareness about advanced technology enabled orthopedic surgeries in India and China in the recent years, is expected to boost the demand for bone void fillers.
- The demand for bone void fillers is significantly high in certain countries, such as Singapore, India, China, and Japan, due to the increasing trend of medical tourism due to the availability of low-cost surgical solutions.
- Growing number of sports injuries and accidents are the primary reasons behind the growth of the global bone void fillers market. Bone void fillers are extensively utilized in filling fractures arising out of sports injuries.
- According to the findings of the Centers for Disease Control and Prevention, dislocations and fractures hold around 20% of the total sports injuries in the US. As such, high growth potential is generated for the global bone void fillers market. In addition, most of the sports injuries in Europe comprise bone fractures, which create considerable demand for bone void fillers.
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Segmentation:
The Global Bone Void Fillers Market is segmented based on material, form, procedure, end-user, company, and regional distribution. Based on material, the market can be categorized into calcium sulphate, demineralized bone matrix, tri-calcium phosphate, and others.
Calcium sulphate is anticipated to hold the significant revenue shares of the market in the upcoming five years on the account of added advantages like high osteoconductivity. Also, calcium sulphate is a traditional material used for bone void fillers.
DBM Segment Registered a Market Share of 32.9%
Based on type, the demineralized bone matrix (DBM) segment held a market share of 32.9% in 2019 and is likely exhibit high growth in the forthcoming years. This is attributable to factors such as several benefits associated with DBM, such as reliability and safety during administration procedures.
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Regional Analysis:
North America to Remain Dominant; Increasing Adoption of Technologically Advanced Products to Drive the Market
Among the regions, the market in North America is expected to showcase significant growth and register the highest global bone void fillers market revenue during the forecast period. The region generated a revenue of USD 1.31 billion in 2019 and is likely to grow further.
This is set to occur owing to the factors such as competitive pricing of the product and increasing prevalence of bone disease in the region. Europe, on the other hand, is anticipated to be the second-most leading region during the projected horizon. This is attributable to factors such as high adoption of technologically advanced products and the presence of emerging key players in the region.
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List of the Manufacturers Proliferating in the Market:
- BONESUPPORT AB
- Wright Medical Group N.V.
- DePuy Synthes Companies
- Stryker
- Arthrex, Inc.
- Biocomposites
- Zimmer Biomet
- Collagen Matrix, Inc.
- Pacific Bioceramics
- Others
The publisher calculated the market size of the Global Bone Void Fillers Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and end-users for getting an appropriate, overall market size.
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