Bone Putty Size, Share, Growth, Trends, Applications, and Industry Strategies

Bone Putty Market: Introduction

  • Bone putty is an optimized bone graft substitute for orthopedic, trauma, and spine surgery. The putty can be delivered directly to the bone defect without mixing or preparation. Bone putty is a combination of materials such as mineralized cancellous chips and biphasic calcium phosphate (BCP) with demineralized bone (DBM) in a resorbable carrier. The biphasic calcium phosphate consists of hydroxyapatite(HA) and beta-tricalcium phosphate (β-TCP), which are found naturally in real bone.

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Key Drivers and Restraints of Global Bone Putty Market

  • The number of orthopedic surgeries is increasing globally due to changing lifestyle, geriatric population, and increase in obesity. The prevalence of obesity was 39.8% and affected about 93.3 million of adults in the U.S. in 2016. Global estimates of degenerative joint diseases indicate that 9.6% men and 18.0% women aged above 60 have symptomatic osteoarthritis. According to expert opinions presented in the EULAR committee report, radiographic evidence of knee osteoarthritis in men and women over 65 is found in 30% of the population.
  • Increase in the geriatric population is another major driver of the global bone putty market. Hypertension, obesity, diabetes, tobacco smoking, dyslipidemia, family history, and lack of physical inactivity are the key risk factors for orthopedic diseases among the geriatric population. According to the WHO, the global geriatric population is expected to increase from 524 million in 2010 to 1.5 billion by 2050. This is anticipated to drive the demand for bone putty, which, in turn, is likely to provide significant opportunities for companies operating in the global bone putty market.
  • Changing demographics in emerging economies, such as China, India, Brazil, and South Africa, are anticipated to provide large opportunities to medical companies. Increase in the number of orthopedic procedures has led to rise in the adoption of bone putty.

Orthopedic Surgery Segment to Dominate Global Market

  • In terms of application, the orthopedic surgery segment accounted for major market share in 2018. The segment is projected to grow at a steady pace during the forecast period. The segment is likely to be driven by rise in prevalence of orthopedic diseases.

Hospitals to Lead Global Bone Putty Market

  • The hospitals segment is anticipated to capture nearly half of the revenue share and retain its status as the most lucrative end-user segment of the global bone putty market during the forecast period. Governments are extending support and funding toward increasing the number of skilled surgeons. This in turn increases the number of hospitals offering orthopedics surgeries. However, in the past few years, patients have been opting for orthopedic surgeries in ambulatory surgical centers (ASCs), as these settings enhance patient satisfaction with lower infection rates and shorter stays.
  • North America, an established region in terms of hospitals and ASCs, is likely to cater to the rise in demand for orthopedic surgeries during the forecast period. Developed countries are considered hubs for 'safe' and 'effective' surgeries. This perception will create opportunities in the bone putty market in North America, followed by Europe. However, developing countries can serve as a goldmine of opportunities for investments and expansion for market players.

 

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  • Asia Pacific is likely to be a potential market for bone putty due to large geriatric patient pool and dense population. Growing medical tourismsector driven by government regulations favoring local players and relatively low surgery costs are likely to contribute to the lucrativeness of the bone putty market in the region.
  • However, high cost continues to hamper the otherwise expected growth of the bone putty market in developed as well as developing countries during the forecast period. Financial lucidity of consumers has made them independent enough to spend out-of-the-pocket on their health. However, cost of these surgeries is high even after an insurance cover, which is preventing the market from realizing its full potential.

 

 

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Transparency Market Research Inc.

 

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Publicado en Health en junio 03 at 02:56
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