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Artificial Bone Market to Reflect Steady Growth During 2018 – 2026
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Inorganic non-metallic materials such as Hydroxyapatite (HA) are increasingly being used for artificial bone applications, owing to its good biocompatibility in bone contact, as its chemical composition is similar to that of bone material. A study published in Artificial Cells, Nanomedicine, and Biotechnology Journal in March 2014, highlighted the clinical effectiveness of nano-hydroxyapatite (Nano-HA) artificial bone. The study shows that, 27 patients suffering with bone defects are treated with Nano-HA artificial bone. After, the continuous follow-up for around 18.5 months, patients’ defected bone shows good biocompatibility with Nano-HA artificial bone, without and side effects and complication. Moreover, increasing adaptation of innovative material in the manufacturing of artificial bone, will expected to boost the market.
HA is the main inorganic component of nature bones, accounting for about 60% of the bone composition. Porous HA ceramics have remarkable usage in biomedical applications, including bone tissue regeneration, cell proliferation, and drug delivery. In bone tissue engineering, it is applied as a filling material for bone defects and augmentation, artificial bone graft material, and prosthesis revision surgery. Moreover, significant research is being conducted to use innovative biomaterials such as carbon nanomaterials in bone tissue engineering. Carbon-based prostheses are promising materials, which mimic the natural function of bones, offering relevant mechanical strength.
A variety of synthetic polymers, natural polymers, and bioceramics are being used to develop artificial bones and are being investigated for their physiochemical role in vivo, which are currently in clinical trial stages. Furthermore, carbon-based bone materials, such as carbon nanotubes and graphene, have been widely investigated as potential solutions to several biomedical problems. Electrical and mechanical properties of carbon nanotubes (CNTs) are important key properties, which can used for bone tissue engineering. Among this, electrical properties of carbon nanotubes used to stimulate the cell towards osteogenic differentiation, and mechanical properties can be used to mimic the mechanical strength of the bone.
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Artificial Bone Market – Drivers
Increasing technological development in artificial bones is currently driven with 3-D printing design. The new 3-D printing design is a relatively safer and effective technology in the manufacturing of artificial bones. Various research organizations are engaged in carrying out extensive research and development in 3-D artificial bone design profiling. For instance, according to the data published in ScienceDaily Journal, in August 2017, researchers from University of British Columbia, Canada, developed a new artificial bone design that can be customized and made with a 3-D printer for stronger, safer, and highly effective bone replacements.
Rising incidence of trauma and accidents across the globe, in turn, is increasing the prevalence of bone damage, which is thus expected to boosting the growth of the artificial bone market. For instance, according to the Centers for Disease Control and Prevention (CDC), around 2.5 million people were hospitalized in the U.S. in 2014, due to accident injuries, indicating high risk of bone damage. This in turn, offers lucrative opportunity to boost artificial bone market over the forecast period (2018 – 2026). Moreover, the National Trauma Institute in 2014, revealed that economic burden due to trauma cases increased to US$ 671 billion, including healthcare costs and lost productivity costs.
Increasing number of trauma cases is increasing the visits of patients in trauma centres. According to the National Ambulatory Medical Care Survey (NAMCS), in 2010, around 63 million visits to the orthopedic surgery department were recorded and around 3.5 million visits for fractures in the emergency departments in the U.S. Additionally, among the 6.5 million bone fracture or defect cases, around 887,679 were hospitalized. Various other factors such as presence of key operating players and collaborative partnerships among the players are responsible for positioning North America as the largest market for artificial bone market.
Artificial Bone Market – Regional Analysis
Geographically, the global artificial bone market is segmented into North America, Latin America, Europe, Middle East, Asia Pacific, and Africa. North America holds the dominant position in the artificial bone market.
North America contributes the maximum share in the artificial bone market and is expected to generate high revenue during the forecast period, owing to increasing research and development activities in the field of artificial bone, which results in development of innovative artificial bone manufacturing technologies in the region.
On the other hand, Asia Pacific is expected to gain significant traction, owing to the rise in medical tourism as well as development of novel artificial bone material by regional players, exhibiting equivalent efficiency at affordable prices. For instance, in September 2016, a medical 3D printing alliance, which consisting of Taiwan’s National Applied Research Laboratories (NARLabs), China Steel’s branch company ThinTech Materials Technology, the TongTai Group, and the United Orthopedic Corporation; launched new medical 3D printing bone material. This new material underwent and passed the ISO-10993 biocompatibility international regulation’s verification. The group is intended to launch its new material in the global market over the forecast period.
Artificial Bone Market – Competitor
Some of the key players operating in the artificial bone market are Baxter International Inc., Medtronic plc, Stryker Corporation, Orthofix International N.V., AlloSource, Inc., Johnson & Johnson (DePuy Synthes), NuVasive, Inc., and Smith & Nephew plc.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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