The increasing incidence of musculoskeletal ailments and chronic skeletal conditions is boosting orthopedic bioactive glass market growth. The rising geriatric population and increasing incidence of global obesity are expected to be factors bolstering the product demand further.
For instance, between 2014 and 2015, the U.S. Census Bureau estimated that the population in the age group 65 years and above increased by 1.6 million. The rise in the number of trauma cases due to accidents and sports are other factors responsible for the growing demand for orthopedic bioactive glass. As more and more people are engaging in sports and recreational activities, the risk of injuries is also swelling. For instance, in 2016, National Health Statistics Reports reported that as opposed to 209 million participants in 2014, 213 million people aged six years and above participated in sports and fitness activities in 2015. People are also partaking in such actions even at advanced ages, which is increasing the prevalence of orthopedic surgeries like joint arthroplasty, joint reconstruction, and visco-supplementation is also augmenting the growth of the orthopedic bioactive glass market. Since bioactive glass is much more effective in the repair of hard tissues in various procedures, demand for ceramics & bioactive glass is much greater than other bioactive materials used in orthopedic procedures.
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Moreover, the growing demand for next-generation orthopedic bioactive glass is tailor-made to meet the need for particular procedures, which has reinforced the growth of the market. However, limited reimbursement coverage options and declining reimbursement for orthopedic implants have impeded the market growth. The tight reimbursement scenario has put pressure on manufacturers to lower the prices for bioactive glass, which has constrained the growth of the market.
Rising incidences of disc degenerative conditions and bone fractures, coupled with increasing trauma cases, are expected to boost the product demand in this segment. The increasing number of bone repair and reconstruction surgeries worldwide is a result of the rise in obesity and trauma cases.
Orthopedic Bioactive Glass Market: Regional Outlook
On the basis of region, the orthopedic biomaterials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2018 and is estimated to expand further at a lucrative CAGR over the forecast period. This growth is mainly driven by more patients requiring knee replacement, reconstruction, and other joint-related orthopedic procedures. Quick adoption of advanced products for bone void filling and implant load-bearing purposes is anticipated to drive the regional market further.
Asia Pacific is estimated to be the fastest-growing market over the forecast period. Factors driving the region’s market growth include the rising prevalence of bone degenerative diseases in low- and middle-income countries. According to statistics published by the WHO, about 1.3 million people die each year due to road traffic crashes across the globe, out of which 93% of the total fatalities on the roads occur in low- and middle-income countries. Moreover, continuously increasing healthcare expenditure coupled with improving healthcare infrastructure, is expected to serve as a high-impact rendering driver for the market growth in this region.
Orthopedic Bioactive Glass Market: Competitive Landscape
This section of the report enlists various leading manufacturers of the market. It helps investors comprehend strategies and collaborations that market players are focusing on to garner a competitive edge in the industry. The comprehensive report provides a significant dissection of the market. Market footprints of manufacturers are identified by observing the global revenue of manufacturers, the global presence of manufacturers, and sales by manufacturers during the 2023 to 2032 forecast period.
Key Market Players:
- BonAlive Biomaterials
- Mo-Sci Corporation
- DePuy Synthes, Inc.
- LASAK s.r.o.
Impact of COVID 19 on Orthopedic Bioactive Glass Market:
The outbreak of COVID-19 has had an apparent impact on many aspects of business, and the healthcare sector has been the most affected by the crisis. The World Health Organization has declared COVID-19 to be a global pandemic, and the healthcare industry has to undertake a number of emergency steps to help the general public face the deadly disease. While hospitals and clinics have been filled to capacity, trying to help ailing patients, most patients have been told to avoid healthcare institutions if not faced with an emergency as hospitals are highly contagious as the pandemic wreaks havoc. The orthopedic bioactive glass market will witness a positive and negative impact because of the pandemic. On the one hand, some of the surgeries will be postponed; other emergencies will make orthopedic impossible to avoid. Due to the canceling of sports activities and slowdown of travel, causing a lower incidence of accidents, which will slow down the market for a while, but the surge of market growth will pick up the pace once things go back to normal.
Regional analysis includes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
- Detailed overview of the parent market
- Changing orthopedic bioactive glass market dynamics in the industry
- In-depth orthopedic bioactive glass market segmentation
- Historical, present and projected orthopedic bioactive glass market size in terms of volume and value
- Recent orthopedic bioactive glass market trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Segments, sub-segments, and geographical regions exhibiting promising growth
- A neutral perspective on orthopedic bioactive glass market performance
Orthopedic Bioactive Glass Market: Segmentation
This report shows the revenue growth at a global, regional & country level, and provides an analysis of the market trends in each segment and sub-segment from 2023 to 2032. For this study,has segmented the orthopedic bioactive glass market based on type, application, and region.
By Type (Revenue, USD Million; 2023-2032)
By Application (Revenue, USD Million; 2023-2032)
- Orthopedic Implants
- Joint Replacement/ Reconstruction
- Bio-resorbable Tissue Fixation
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