Global Bone Void Fillers Market: Overview
Bone void fillers find use in a wide range of indications in orthopedic surgery. Bone void fillers refers to the synthetic substitute of bone graft that find use as filler for voids or gaps in the bone structure for maintenance of stability. These defects in bones could be surgically created osseous defects or any injury induced defect in bone. Bone void fillers are produced synthetically and they come with osteoconductive components like hydroxyapatite. These fillers are available commercially in the form of powder, paste, gel, granules, and putty.
The global bone void fillers market is likely to experience substantial growth over the period of forecast due to increasing availability of synthetic bone substitutes for clinical use. Robust growth opportunities of synthetic material and its wider acceptance boost the global bone void fillers market
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Global Bone Void Fillers Market: Notable Developments
The market has witnessed some developments in the last few years. One such significant development in the global bone void fillers market is mentioned below:
- In September 2018, US-based Baxter International Inc. obtained clearance from U.S. Food and Drug Administration or FDA for ALTAPORE Bioactive Bone Graft. This medical invention is a next generation osteoconductive and bioactive substitute of bone grafts. It is utilized as autograft extender in the surgery of posterolateral spinal fusion.
- In 2019, Medtronic plc introduced Grafton demineralized bone matrix (DBM) bone grafting product to the Japanese market. Grafton DBM is the first of its kind demineralized bone matrix product that is made available in Japan. It is expected such an invention will open up new prospects worldwide for the medical devices like bone void fillers in times to come
Some of the reputed organizations functioning in the global bone void fillers market are as mentioned below:
- Medtronic plc
- Johnson & Johnson
- Wright Medical Group, Inc.
- B. Braun Melsungen AG
- Heraeus Holding
- Baxter International Inc.
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Global Bone Void Fillers Market: Key Trends
The future course of the global bone void fillers market is likely to be shaped by the following drivers, restrains, and opportunities over the forecast period, from 2019 to 2027.
Demand for Bone Void Fillers to Ride High on Rising Incidences of Sports Injuries
Growing number of sports injuries and accidents are the primary reasons behind the growth of the global bone void fillers market. Bone void fillers are extensively utilized in filling fractures arising out of sports injuries. According to the findings of the Centers for Disease Control and Prevention, dislocations and fractures hold around 20% of the total sports injuries in the US. As such, high growth potential is generated for the global bone void fillers market. In addition, most of the sports injuries in Europe comprise bone fractures, which create considerable demand for bone void fillers.
In China and India, increased awareness about latest technology powered orthopedic surgeries coupled with rising demand drive the growth of the global bone void fillers market over the tenure of assessment. In countries like Japan, India, and China, the emerging trend of medical tourism has escalated the demand for bone void fillers. The cost of treatment is very high in North America and consequently the price of bone void fillers will remain high too. As such, many Americans are likely to travel to Asia Pacific and Latin America for low cost yet high quality treatment. Many of the Latin American hospitals have entered into partnerships with US-based hospitals for transfer of patients seeking high quality treatment at low cost.
In addition, rising cases of disorders related to orthopedics and increased affordability of treatments in orthopedic clinics and hospital.
Global Bone Void Fillers Market: Geographical Analysis
The global bone void fillers market is divided into the principal regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
North America is expected to hold dominant share of the global bone void market due to rise in sports related injuries and presence of many leading market players in the region. Brazil, India, and China are also anticipated to emerge as promising geographies for the global bone void fillers market in forthcoming years. Of these, India is expected to rise at a rapid pace owing to the booming medical tourism industry. Furthermore, increased per capita income in the region is expected to offer enough scope for the market in years to come.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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