Demineralized Bone Matrix Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Demineralized Bone Matrix Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The demineralized bone matrix market studied was anticipated to grow with a CAGR of nearly 5.5% during the forecast period.

The market was adversely affected by the pandemic. According to the research published in August 2020, titled "Impact of COVID-19 on orthopedic surgery: Experience from Saudi Arabia," orthopedic residency training has been adversely affected by the COVID-19 pandemic. The inevitable pausing of all elective surgeries has limited hands-on practice and exposure to several procedures. Although the orthopedic oncology service has continued, this is a limited area within the orthopedic training program, including at least nine sub-specialties. Trauma surgery has continued but at a much slower rate, most likely due to the nationwide lockdown, which had a short-term negative impact on the market. In March 2020, the International Olympic Committee postponed the 2020 Tokyo Olympics and Paralympic to 2021. These developments across the world had a significant impact on the growth of the demineralized bone matrix market. According to the CovidSurg Collaborative, a research initiative by 120 countries, 28.4 million elective surgeries were reported to have been canceled in 2020, including 6.3 million orthopedic surgeries. As stated by the National Institute of Health 2021 report, there was an overall decline of 74% in orthopedic hospital visits across the North America region. A similar decline was observed in the European countries. As hospital visits declined, there was a great impact on the market studied during the pandemic.

Factors such as the increasing prevalence of orthopedic disorders and increasing patient base with a growing population are expected to increase the market growth. According to the World Health Organization’s key facts on musculoskeletal health published in July 2022, around 1.71 billion people around the world were suffering from musculoskeletal conditions. In Europe, the International Osteoporosis Foundation (IOF) is responsible for raising awareness of osteoporosis care in Europe. According to the article titled “Trends in incidence and prevalence of osteoarthritis in the United Kingdom,” published by the National Institute of Health, in 2020, the incidence of Osteoarthritis in the United Kingdom was 6.8 per 1000 people, whereas the prevalence was around 10.7% during the year 2020. As per the Australian Institute of Health and Welfare article on chronic musculoskeletal conditions published in July 2022, around 6.9 million people in Australia were affected by musculoskeletal disorders during the period 2020-2021. Over 3.1 million people had arthritis, and more than 889 thousand people had osteoporosis. According to the United States Centers for Disease Control and Prevention article on arthritis updated in October 2021, around 58.5 million people in the nation were found to have doctor-diagnosed arthritis. The article estimated that by the year 2040, over 78.4 million adults in the United States will be affected by arthritis. Thus, the abovementioned factors are expected to increase the market growth.

However, the high cost of demineralized bone matrix is expected to hinder the market growth.

Key Market TrendsSpinal Fusion Segment Is Anticipated To Witness The Significant Growth Rate and is Expected to Continue to Do the Same during the Forecast Period

The spinal fusion segment is anticipated to witness a significant growth rate through the forecast period. Spinal fusion is used to correct defects in the vertebrae of the spine. Therefore increasing number of elderly population suffering from these spinal disorders and the rising adoption of demineralized bone matrix procedures as a treatment method is anticipated to escalate the revenue for the segment over the forecast period. As per the data from World Population Prospects: The 2021 Revision published by the United Nations, the number of older people aged 65 years or above, is expected to more than double by 2050 globally, rising from 727 million in 2020 to 1.5 billion in 2050. Globally, the population group aged 65 years or over is registering faster growth rates than all younger age groups. Moreover, according to the Census Bureau’s 2020 population estimates, the number of Americans 65 or older exceeds 55 million. Three states—California, Florida, and Texas—are home to one-fourth of these senior citizens. A further quarter of those 65 and older are accounted for by seven other states: Georgia, Illinois, Michigan, New York, North Carolina, Ohio, and Pennsylvania. The rising elderly population is more prone to bone fractures and thus drives the growth of the studied market. According to the Centers for Disease Control and Prevention (CDC), in October 2021, about 1 in 4 United States adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis. The Growing funding for the development of the product in spine fusion surgeries is expected to drive the growth of the segment over the forecast period. For Instance, in October 2021, Intelligent Implants raised EUR 7.5 million (USD 8.7 million) to make spinal surgery less of a pain in the backside. The company’s smart implants’ first application is in spinal fusion surgery where two or more vertebrae are permanently connected to improve stability, correct a deformity or reduce pain. Intelligent Implants uses wireless implantable electronics to stimulate, steer and monitor bone growth.

Thus, the abovementioned factors are expected to grow the market in the future.

North America is Expected to Dominate the Market Over the Forecast Period

North America captured the largest share in the global market. Moreover, as per the study titled "Spinal Cord Injuries" published in May 2022, each year, approximately 17,000 new cases of spinal cord injury (SCI) are reported in the United States, with an estimated 282,000 people living with SCI. The majority of patients with SCI caused by a sports injury are men. The age group from 16 to 30 years old has the highest risk of SCI. Thus, the high incidence of spinal cord injuries surges the demand for bone growth stimulators over the coming years. According to the study titled "Establishment of a Novel Method for Spinal Discectomy Surgery in Elderly Rats in an In Vivo Spinal Fusion Model" published in December 2021, fusion surgery is one of the most common surgical procedures for the spine. Annually, approximately 400,000 spinal fusions are performed in the United States, with estimated costs of USD 32 billion. Various standard guidelines have been introduced in the region to provide better care to spinal cord injury patients. For instance, according to a research report published in November 2021 and titled "Development of the Canadian Spinal Cord Injury Best Practice (Can-SCIP) Guideline: Methods and summary," clinical Practice Guidelines (CPGs) are crucial for giving patients the best care possible. In order to lower morbidity and mortality and improve functional recovery, health, and well-being, SCI causes a complex constellation of impairments that call for tertiary care across the health system and the individual's lifetime. The Can-SCIP Guideline, which has incorporated recommendations from 41 other guidelines and evaluated the content of the guidelines for implementation in Canada, is the first comprehensive guideline for adults with SCI in the country. Thus, with the growing prevalence of bone-related diseases such as arthritis, it is expected to increase the market growth.

Competitive Landscape

The market is characterized by high competition based on price, product differentiation, and low cost of technology. It is also marked by an increased focus on the development of innovative products and a successful track record of mergers and acquisitions. Major manufacturers, raw material suppliers, and machinery manufacturers have been working in tandem to research, develop, and innovate new products within the field of the allograft. Some of the key industry players are Johnson & Johnson (Depuy Synthes), Medtronic, AlloSource, Zimmer Biomet, and Stryker among others.

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