Bone Substitutes Market – Introduction
Bone substitute is defined as a synthetic, biologically organic, or inorganic combination which is used in the treatment of bone defects. Various bone substitutes have been used in the past 50 years. Bone substitutes are primarily categorized into ceramics (TCP, hydroxyapatite, and calcium sulfate), bone grafts (xenograft, autograft, and allograft), and growth factors (PRP, DBM, BMPs). Ideal properties of a bone substitute include biocompatibility, thermally nonconductive, sterilizable, and should not evoke any adverse inflammatory response. Additionally, it should be osteoconductive, osteoinductive, and resorbable.
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Bone substitutes are widely used in orthopedic surgeries for a number of applications. Bone grafting is the second most frequent tissue transplantation procedure performed across the world. Over two million bone graft procedures are performed every year, with more than 500,000 implanted in the U.S. alone. This is due to ease of use & handling, improved safety profiles, intraoperative cost & time advantages, and adaptability with a variety of clinical challenges.
Bone Substitutes Market – Competitive Landscape
DePuy Synthes
Founded in 1895, DePuy Synthes is headquartered in Warsaw, Indiana. The company is the part of the Johnson & Johnson Family of Companies. DePuy Synthes offers comprehensive portfolio of orthopaedic and neuro products and services for joint reconstruction, trauma, spine, sports medicine, neuro, cranio-maxillofacial, power tools and biomaterials.
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Medtronic
Founded in 1949, Medtronic is a leading medical devices company engaged in the development, manufacturing, and marketing of products for alleviating pain and restoring normal health of patients
The company operates through four business segments: cardiac & vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group
The Medtronic Orthopedic Solution offering products for total joint replacement is a part of company’s Spine division within the Restorative Therapies Group.
Zimmer Biomet
Established in 1927, Zimmer Biomet is a one of the prominent player in the medical device market catering to customers present in musculoskeletal health care arena
The company manufactures and markets orthopedic reconstructive products; sports medicine, biologics, extremities & trauma products; spine, bone healing, craniomaxillofacial & thoracic products; dental implants and related surgical products
The company’s offers its products to orthopedic surgeons; neurosurgeons; oral surgeons, dentists, hospitals, distributors, health care dealers and other specialists in orthopedic market
Its products are used to treat injuries, bone, joint, and soft tissue disorders
The company operates in more than 25 countries worldwide, and its products are distributed in more than a 100 countries through its wide distribution network
Zimmer Biomet has over 8,000 patents related to technologies incorporated in its products.
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Stryker
Founded – 1941, Kalamazoo, U.S. Stryker is a global medical device company offering its products in orthopedic implants, trauma, and replacement surgeries; endoscopic and communication systems; emergency medical equipment and intensive care disposable products; surgical equipment and surgical navigation systems; and other products.
The firm operates through three business segments: Orthopedics, MedSurg, and Neurotechnology and Spine. The orthopedic segment offers joint replacement products which includes brands like Mako Partial Knee, Mako Total Knee, and Restoris MCK
As of December 2016, Stryker has registered over 2,184 U.S. patents and 3,454 international patents
The company offers its medical devices to customer in hospitals and other health care facilities in the U.S. It also offers products through subsidiaries and branches and other third-party dealers and distributors in more than 100 countries.
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Bone Substitutes Market – Dynamics
Increase in the number of cases of bone disorders across the world drives the global bone substitutes market
According to the International Osteoporosis Foundation, the global incidence of fractures is anticipated to increase by 240% in women and 310% in men by 2050. Moreover, increase in the geriatric population, rise in research & development expenditure, and surge in awareness among end-users contribute to the growth of the global bone substitutes market. The market is expected to witness significant demand during the forecast period. However, risk associated with immune response and disease transmission are the major factors hampering the growth of the global bone substitutes market. Moreover, stringent regulatory framework and high cost are the other factors restraining the market. Furthermore, ethical issues associated with bone harvesting hampers the growth of the global bone substitutes market in some regions.
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Asia Pacific to Remain a Forerunner in the Demand for Bone Substitutes
The market in Asia Pacific is projected to expand at a high CAGR during the forecast period, driven by large patient pool, increase in government initiatives, and developing health care infrastructure in India and China. The market in Latin America and Middle East & Africa is anticipated to be driven by increase in investments by leading players in these regions and rise in prevalence of orthopedic diseases.
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