PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349818
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1349818
The global bone regeneration material market is estimated to be valued at US$ 2.61 billion in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 2.61 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 4.60% | 2030 Value Projection: | US$ 3.57 Bn |
The complex physiological process of bone formation and continuous remodeling of bone during fracture healing is known as bone regeneration. Bone regeneration is important in clinical conditions such as trauma-caused skeletal reconstruction, bone infection, tumor resection, and skeletal abnormalities. Currently, bone graft, free fibula vascularized graft, and allograft implantation are considered the gold standard of therapy. In autologous bone graft regeneration, the donor's contribution is limited and involves several complications. Furthermore, in oral health or periodontal disease treatment, bone regeneration leads to damage to the periodontal ligament and alveolar bone. The aim of treating periodontal disease is to prevent further disease progression. Hence, considering this treatment concern, bone regeneration is an excellent treatment for periodontal diseases. Bone regeneration involves histological and biological changes associated with inflammation, blood supply, the formation of fibrous tissue, and bony calluses. The ongoing research and development of biomaterials for bone and cartilage regeneration is driving growth of the global bone regeneration materials market. The biomaterials used for regeneration should be favorable to proliferation, cell adhesion, and differentiation to confirm a rapid regeneration process at the site of injury.
The key players in the medical device industry are focusing on the development of technologically advanced equipment, instruments, and systems for various surgical procedures. Thus, the introduction of such advanced products in the market is expected to drive growth of the global Bone Regeneration Material market over the forecast period. For instance, in November 2021, the Stryker Corporation, a medical technology company, launched the Stryker F1 Small Bone Power System, a lightweight solution for conducting surgical procedures of the extremities. The new system has been powered by SmartGRIP Technology, which enables the surgeon to operate in three procedures, including microsaws, a microdrill, and a universal motor for inserting k-wires and drilling. Thus, the availability of the integrated surgical system, which includes a microdrill, is expected to offer opportunities for medical device manufacturers to develop such products. Furthermore, the rising company activities in launching advanced products are expected to increase the demand for bone grafts and substitutes for the treatment, thereby boosting market growth. For instance, in August 2021, Karolinska Development launched OssDsign Catalyst, a synthetic bone graft that stimulates the formation of healthy bone tissue in spinal fusion surgeries, in the U.S. The product is a synthetic bone graft that stimulates the formation of healthy bone tissue in spinal fusion surgeries