Increasing number of orthopedic
surgeries is an important factor driving growth of the global bone regeneration materials market. According to the National Center for Biotechnology Information, in 2015, around 7,076 hospital admissions for total knee arthroplasties (TKAs) and 13,017 hospital admission for total hip arthroplasties (THAs) were reported in Brazil. Moreover, in 2015, the state of Sao Paulo registered 49% geriatrics in the Southeast region of Brazil, among which accounted 47.4% for TKAs and 53.8% for THAs.
Similarly, the increasing incidence
of osteoarthritis among the global population is expected to drive growth of
global bone regeneration materials market during the forecast period. According
to data published by the Arthritis Foundation in November 2017, arthritis was
the leading cause of disability among adults in the U.S. Over 53 million adults
worldwide suffered from arthritis, which included over 100 types of joint
diseases. This is expected to increase 49% to reach over 78.4 million by 2040.
Moreover, the increasing demand for
allografts, xenografts, and various other synthetic bone grafts that are innovative
substitutes for real bones is expected to facilitate the market growth. For
instance, use of hydroxyapatite in bone grafts without any organic and
biological agents obstructs natural processes such as osteogenesis,
osteoconduction, and osteoinduction, as they are made through recombinant DNA
technology.
Global Bone Regeneration Materials Market -
Impact of Coronavirus (COVID-19) Pandemic
The spread of the novel coronavirus
has hampered growth of the healthcare industry. In December 2019, in China’s
Wuhan City, a cluster of pneumonia cases were reported by Chinese health
authorities. The pneumonia causative agent was identified as a novel
coronavirus named COVID-19. This virus spread rapidly across the globe, thus
causing a concerning number of fatalities. In March, 2020, the World Health
Organization (WHO) declared the COVID-19 as a global pandemic and suggested
implementation of strict measures to minimize the spread of this disease. The
pandemic has slowed down growth of the healthcare sector and led to a
disturbance in the supply chain.
Moreover, governments across
various countries have implemented nationwide lockdowns to curb the spread of
COVID-19. Similarly, in various countries across the world, healthcare
companies are facing problems of continuing its supply chain operations. The
slowdown of the healthcare companies’ supply chain has also impacted growth of
Global Bone Regeneration Materials Market.
Global bone regeneration materials
market is estimated to be valued at US$
2292.1 million in 2020 and is expected to exhibit a CAGR of 3.3%
during the forecast period (2020-2027).
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