DUBLIN–(BUSINESS WIRE)–The Regenerative Medicines: Bone and Joint Applications report has been added to ResearchAndMarkets.com’s offering.
The global market for regenerative medicine for bone and joint applications was valued at $9.6 billion in 2022. By technology, this market is segmented into biomaterials, stem cell therapy, and tissue engineering. The tissue engineering segment recorded $2.4 billion in revenue in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.3% during the forecast period
The rapid growth rate of the tissue engineering segment is attributed to the growing adoption of products designed and developed for treating tissues such as bone, skeletal muscle, cartilage, blood vessel, nerve tissue, skin, and for complete organs. According to the American Academy of Orthopedic Surgeons (Annual Report 2022), hip and knee arthroplasty procedures continue to increase. American Joint Replacement Registry (AJRR) has analyzed the utilization of technology for surgical assistance in primary total hip and knee arthroplasty for the first time. Approximately 2,550,232 primary and revision hip and knee arthroplasty procedures were performed between 2012 and 2021.
The market for regenerative medicine for bone and joint applications is expected to display substantial growth during the forecast period, supported by an increasingly aging population worldwide, the growing occurrence of arthritic conditions such as osteoporosis and osteoarthritis, and an increasing number of orthopedic surgeries. According to WHO, osteoporosis affects approximately 6.3% of men over the age of 50 and 21.2% of women over the same age range globally. According to International Osteoporosis Foundation, by 2050, the worldwide incidence of hip fracture in men is projected to increase by 310% and 240% in women, compared to 1990.
The market has been established in North America and Europe, which currently are the leaders in revenue sharing. However, the growth opportunities are better in emerging economies, especially Brazil, Russia, India, and China (BRIC) nations, due to an increased level of awareness as well as an increase in per capita income. Moreover, the increased focus of manufacturers toward emerging economies and innovative formulas to sell in emerging markets are further boosting the market’s growth.
The major players in the market are Smith & Nephew, DePuy Synthes, Medtronic plc, Stryker Corp., Bioventus, Zimmer Biomet, Anika Therapeutics, Baxter, and CONMED Corp.
Market Dynamics
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Market Drivers
- Growing Number of Bone and Joint Disorders and Orthopedic Surgeries
- Increasing Expenditures for Health Care and Investments in Regenerative Medicines
- Increasing Geriatric Population
- Increasing Product Approvals and Launches
- R&D for Stem and Gene Therapies
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Market Restraints
- Stringent Government Regulatory Settings in R&D
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Market Opportunities
- Growing Pipeline for Regenerative Medicines
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Covid-19 Impact Analysis
- Impact of Covid-19 on the Market for Cell and Gene Therapies and Regenerative Medicine for Bone and Joint Applications
- Direct Impact on Clinical Trials in Cell and Gene Therapy
- Post-Covid-19 Effect on Regenerative Medicine for Bones and Joint Applications
The Report Includes:
- An up-to-date review and in-depth assessment of the global markets for regenerative medicine in bone and joint applications
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2020-2022, estimates for 2023, and projections of compound annual growth rates (CAGRs) through 2028
- Estimation of the actual market size and revenue forecast for regenerative medicine for bone and joint applications market, and corresponding market share analysis based on the type of technology, application, and region
- Highlights of the importance of biomaterials, stem cell therapy, tissue engineering, and emerging/upcoming technologies (including bioprinting) in the regenerative medicine industry, along with the long-term impacts of regenerative medicine technologies, both existing and in developmental stage
- Country specific data analysis and market growth forecasts for the U.S., Canada, Germany, the UK, France, Italy, Russia, Spain, Australia, Japan, China and India
- Discussion of major growth drivers and restraints, technology advancements, product innovations and regulatory aspects that will shape the market for regenerative medicine for bone and joint applications as a basis for projecting demand in the next few years (2023-2028)
- Identification of the companies best positioned to meet this demand owing to or in conjunction with their proprietary technologies, product launches, and other strategic advantages
- Holistic review of the impact of COVID-19 and other economic and demographic factors affecting the market growth in the analysis period
- A relevant patent analysis with the number of patents registered/approved, ongoing industry clinical trials, and recent mergers, acquisitions, and collaboration agreements in the regenerative medicine industry
- Insight into the recent industry structure, competitive aspects of each product segments, increasing investment on global R&D activities, market growth strategies, and company revenue share analysis
- Identification of leading and emerging competitors in the global regenerative medicine market, and analysis of competitive landscape based on recent developments and segmental revenues
Company Profiles
- Anika Therapeutics
- Arthrex
- Baxter International
- Bioventus
- Conmed
- Depuy Synthes Products
- Medtronic
- Royal Biologics
- Seikagaku Corp.
- Smith & Nephew
- Stryker
- Zimmer Biomet Holdings
For more information about this report visit https://www.researchandmarkets.com/r/d4q5fl
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