Bone Implant Market expanding at 6.8% CAGR by 2023, according to Global Bone Implant Market Analysis Report published by Market Research Future. Global Bone Implant Industry Report analysis Market By Biomaterial, Product, Applications, Region with Forecast to 2023.
Bone Implant Market Overview
The global bone implant market is expected to rise at a CAGR of 6.8% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global bone implant market is mainly driven by the growing technological advancement in bone implants, which has led to the availability of a number of viable options in the bone implants market, and the growing need for bone implant procedures around the world. The rising prevalence of sports injuries and other bone injuries is also likely to be a major driver for the global bone implant market over the forecast period.
Rapid advancement of the technology around bone implants is likely to be a major driver for the global bone implant market over the forecast period. With time, the global bone implants market has grown rapidly, leading to steady development of a number of products that can be viably used as bone implants. The steady development of the materials industry has also led to a rapid rise for the global bone implants market, as a number of viable materials have been developed that can be used to produce effective bone implants. This is likely to remain a major driver for the global bone implants market over the forecast period, as the material plays a key part in ensuring long-term viability of the bone implant. Materials such as ceramics and polymers are likely to undergo extensive research in the coming years, leading to steady growth of the bone implant market.
On the other hand, the high prices of orthopedic surgeries and bone implant products could hinder the global bone implant market’s growth over the forecast period. Government policies could also hinder the use of specific products in the global bone implant market over the forecast period.
Bone Implant Market Competitive Analysis:
Leading players in the global bone implant market include Depuy Synthes Inc., NuVasive Inc., Stryker Corporation, Integra LifeSciences Holdings Corporation, The Orthopedic Implant Company, Aesculap Implant Systems, Conmed Corporation, Arthrocare Corporation, BioTek Instruments Inc., Wright Medical Group N.V., Medtronic plc, Zimmer Biomet Holdings Inc., Smith & Nephew plc, and Globus Medical Inc.
Acquisitions and mergers and likely to remain a popular tactic for players in the global bone implant market over the forecast period.
In May 2018, NN Inc. acquired Paragon Medical for USD 375 million.
In 2017, Stryker Corporation acquired Vexim for USD 215 million.
Bone Implant Market Segmentation:
The global bone implant market has been segmented on the basis of biomaterial, product, application, device, end user, and region.
On the basis of biomaterial, the bone implant market has been classified as metals, ceramics, and polymers. The metal segment has been further divided into titanium, stainless steel, cobalt chromium alloy, gold alloys, and tantalum. The ceramics segment has been further divided into alumina, hydroxyapatite, beta-tricalcium, phosphate, carbon, bioglass, zirconia, and zirconia-toughened alumina. The polymers segment has been sub-segmented into polymethylmethacrylate, polytetrafluoroethylene, polyethylene, polysulfone, polyurethane, and polyether ether ketone.
By product, the market is segmented into orthopedic screws, orthopedic plates, interlocking nails (rods), and others.
By application, the bone implant market is segmented into hip orthopedic implants, knee orthopedic implants, spine orthopedic implants, dental orthopedic implants, and others.
By device, the market is segmented into external fixators and internal fixators.
By end user, the market is segmented into orthopedic clinics, hospitals, and others.
Bone Implant Market Regional Analysis:
The Americas is likely to remain the major regional party in the global bone implant market over the forecast period. The advanced healthcare sector in the region, the high disposable income of consumers in developed countries such as the U.S. and Canada, and the growing prevalence of sports injuries in the region are likely to drive the bone implant market in the Americas region over the forecast period.
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The rising prevalence of orthopedic diseases in Europe is likely to drive the regional market for bone implants over the forecast period. Asia Pacific is also likely to exhibit a rapid growth in the bone implant market over the forecast period due to the growing prevalence of orthopedic conditions.
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Nov 10 2020: The global Blockchain Technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
This allows various participants that are connected to the network, usually public, to track information through a secure network, thereby eliminating the need for any kind of third-party verification.The market is expected to grow rapidly owing to numerous benefits that it provides, such as eradication of the requirement of a financial institution to validate transactions, reduce duplicative recordkeeping, eliminate reconciliation, minimize error rates, and facilitate faster settlement.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/blockchain-technology-market/request-sampleThe global blockchain technology market size is expected to reach USD 57,641.3 million by 2025, registering a CAGR of 69.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. Blockchain is the underlying technology that originated in the form of a public ledger to keep a track of all cryptocurrency transactions.
With the use of this technology, the databases could become universal in nature, thereby allowing multiple institutions to use it at the same time to bring various different systems closer together and help increase the efficiency.The increasing demand for this technology across financial services, consumer or industrial products, technology, media , healthcare, transportation, and public sector is largely responsible for driving the market toward growth.
The major drivers include the growing interest of the BFSI sector and increasing merchants accepting cryptocurrencies among others.
This growth can be attributed to growing tendency of institutions and government to inculcate open and efficient transactions.• The application & solution segment is anticipated to grow at the highest CAGR of 71.2% from 2019 to 2025.
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