Increasing prevalence of bone related diseases to drive the growth of global bone void fillers market in the forecast period, 2022-2026.
The growing demand for bone void fillers for spinal cord surgeries, dental applications, among others is expected to drive the market growth through 2026. Additionally, increasing healthcare expenditure coupled with improving healthcare scenario is further expected to support the market growth over the next few years. Furthermore, growing geriatric population worldwide which is susceptible to falls and injuries is expected to support the market growth during the forecast period.
Besides, advancements such as use of nano materials for bone regeneration, growing popularity of bio ceramics, among others are expected to create lucrative opportunities for the market growth through 2026. However, high cost of orthopedic surgery is one of the major challenges faced by the patients of Latin America and the Middle East and Africa. The cost of surgery varies based upon the countries and experience of surgeons.
The estimated average cost is nearly USD25,000 to USD30,000, which includes consultation fees as well. Therefore, lack of affordability is one of the prominent factors that restraints the growth of the global bone void filler market. Also, stringent regulatory scenario and policies for launching and marketing bone void fillers are expected to hamper market growth significantly. The regulatory framework is quite strict when it comes to product recalls.
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The US Food and Drug Administration (FDA) recommends biocompatibility testing for blood contacting long-term implantable devices and asks to provide sterilization information to attain a specific (SAL) of 1 x 10-6 assurance level. Manufacturers planning to market such devices need to address the specific risks to health associated with bone void filler devices and obtain a considerable equivalence from the FDA before marketing and selling the device.
The global bone void fillers market is segmented based on material, form, procedure, end user, company, and regional distribution. In terms of material, the market can be categorized into calcium sulphate, demineralized bone matrix, tri-calcium phosphate, and others. Calcium Sulphate material type dominated the market in 2020 with an overall share of 34.39% on account of its high osteoconductivity.
Additionally, calcium sulphate was the first material through which bone void fillers were first prepared and most of the commercial bone void fillers available in the market are made up of calcium sulphate. While demineralized bone matrix segment is expected to register the highest growth through 2026 on account of their widespread use in spine fusion surgeries and several dental procedures.
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Additionally, demineralized bone matrix possesses more osteoinductive properties than any other regular allograft because of its enhanced bioavailability of growth factors following the demineralization process. Based on end user, the market can be categorized into hospitals, specialty clinics, and others.
The hospitals are expected to dominate the market in terms of the various end users of bone void fillers. This can be ascribed to the availability of sophisticated equipment, facilities, skilled professionals, among others in the hospitals, as a result of which most of the critical surgeries requiring bone void fillers are performed in hospitals.
Additionally, strict adherence to the guidelines for bone void fillers administration can be effectively ensured at hospitals as compared to other healthcare facilities.
Key market players in the global bone void fillers market include:
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Smith & Nephew, Plc
- Medtronic, Plc
- Johnson & Johnson
- BoneSupport AB
- NuVasive, Inc.
- Integra Lifesciences Holdings Corporation
- Arthrex, Inc.
- Collagen Matrix, Inc.
Global bone void fillers market is consolidated with a lot of well-established players having presence in several countries: with several domestic players possessing leadership in certain regions and countries, among others. Stryker Corporation holds the highest market share and is among the top five market players globally.
Zimmer Biomet Holdings, Inc., ranks second in terms of market share in the overall bone void fillers market. The company has a strong presence worldwide and a huge brand value. People in emerging countries are also aware of the presence, product portfolio and business of the company and are preferring it over other competitor brands.
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Additionally, there are other prominent players such as Smith & Nephew, Plc, Medtronic, Plc, and Johnson & Johnson, among others, holding a significant position in the global bone void fillers market.
“The Asia Pacific region is expected to register the fastest growth during the forecast period. This can be attributed to the large and growing geriatric population in the region, which is susceptible to different kinds of injuries, bone related diseases such as osteoporosis, etc., especially in countries like China, India, and Japan. Furthermore, growing medical tourism across the region especially in countries like Singapore, China, India and Japan on account of availability of medical facilities at an affordable cost is contributing to the growth of the market in the region.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Bone Void Fillers Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026 Segmented By Material (Calcium Sulphate, Demineralized Bone Matrix, Tri-Calcium Phosphate, Others), By Form (Putty, Paste, Granules, Gel, Others), By Procedure (Spine Fusion & Interbody Fusion, Oral Surgeries, Others), By End User (Hospitals, Specialty Clinics, Others), By Region”, has evaluated the future growth potential of global bone void fillers market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global bone void fillers market.
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