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Bone Regeneration Material Market: Up-to-Date Analysis of Latest Trends in Market

 

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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