PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358052
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358052
The global artificial bone market is estimated to be valued at US$ 1.53 Billion in 2023 and is expected to exhibit a CAGR of 5.9% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 1.53 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 5.90% | 2030 Value Projection: | US$ 2.28 Bn |
Artificial bone is a bone-like material created in a laboratory that can be used in bone grafts to replace human bone that is lost due to severe fractures or bone and joint diseases. Artificial bones are made from materials such as ceramics, composites, polymers, hydroxyapatite, and others. Artificial bones are mostly used for the surgeries of spinal fusion, dental therapies, craniomaxillofacial surgery, joint reconstruction, and trauma and extremities. A bone fracture, which is a complete or partial break in the bone, is a very common condition that has more than three million U.S. cases per year. Human bones have the ability to regenerate themselves through the cycles of bone resorption and bone formation. The cell responsible for bone resorption is the osteoclast, while the cell responsible for bone formation is the osteoblast. The human body can regenerate fractured bones. However, if damage to bones is caused by a disease or severe injury, it becomes difficult for the body to repair itself. When the human body is unable to regenerate the lost bone tissue, surgeons come in and replace the missing bone using autografts, allografts, and synthetic grafts (artificial bone). When comparing artificial bone to autograft and allograft, it is less invasive and more biocompatible since it avoids the risk of unknown viral infections.
Increasing launch of artificial bones by the key players in the market are expected to drive the growth of the global artificial bone market over the forecast period. For instance, in March 2022, Molecular Matrix, Inc., a pre-clinical-stage biotechnology company intended to facilitate advanced 3D tissue engineering services, announced the launch of its Osteo-P Synthetic Bone Graft Substitute (BGS) for use in the musculoskeletal system. Osteo-P BGS is made using Molecular Matrix, Inc.'s hyper-crosslinked carbohydrate polymer (HCCP) technology platform, for bone repair and regeneration.
Artificial Bone Market Detailed Segmentation: