Bone Void Fillers Market 2022 | North America Garnered The Largest Revenue Share

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Bone Void Fillers Market

Bone Void Fillers market Expected to Reach $7.3 Billion by 2031

PORTLAND, OREGON, UNITED STATE, July 29, 2022 /EINPresswire.com / -- According to a new report published by Allied Market Research, titled,“Bone Void Fillers Market ,' The bone void fillers market size was valued at $3.2 billion in 2021, and is estimated to reach $7.3 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031. Bone void is cavity or gap in the bone, which is caused due to failure of the bone's self-healing process. Bone void fillers are used in a wide range of indications such as orthopedic surgery, spinal fusion, dental surgery, oral surgery, and interbody fusion. Bone void filler is a synthetic substitute, which is used to fill the gaps or void in the bones. It provides stability to bone structure. The bone void substitute is used for surgical procedures such as spine fusion, bone fracture, pelvic surgery, and oral surgery. Bone void fillers come in different types such as demineralized bone matrix, calcium phosphate bone graft substitute ,and collagen matrix. These fillers are available in different forms such as powder, paste, gel, granules, and putty.

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The COVID-19 outbreak is anticipated to have a negative impact on growth of the global bone void fillers market. During the COVID-19 pandemic period, stringent regulations were implemented by local and national governments on the delivery of products from companies. Increase in number of COVID-19 cases led to decline in the number of surgical procedures. The COVID-19 pandemic has stressed the healthcare systems in the world and increased the need for the development of novel therapeutics. For instance, according to report shared by the National Center for Biotechnology Information (NCBI) in June 2021, the number of patients visit for surgeries decreased from 74.2 % to 37.7% and decrease in the orthopedic surgeries by 33.3% to 100%. Moreover, due to COVID-19 restrictions, market players witnessed significant decline in revenue generated during COVID-19. Thus, cancellations of non-emergency surgeries during the pandemic affected the growth of bone void fillers market. On the contrary, the number of surgical procedures is expected to grow gradually post the pandemic. According to the Journal of Cureus, in 2022, it was analyzed that the number of cervical spinal fusion procedures increased by 44.9% from 2020 to 2021. Thus, increase in number of cervical spine fusion procedures after pandemic fostered the use of bone void fillers products. Hence, increase in the number of orthopedic surgical procedures propels the demand for bone void fillers, which fuels the market growth.

KEY FINDINGS OF THE STUDY

By type, the demineralized bone matrix segment was the highest contributor to the market in 2021.
On the basis of form, gel & putty segment led the market in 2021.
Depending on application, the bone fracture segment exhibited the highest growth in 2021, and is expected to continue this trend during the forecast period.
As per end user, the hospital segment dominated the market in 2021.
Region wise, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Increase in the number of anterior cervical discectomies and fusions procedures by bone void fillers industry further propels the market growth. For instance, according to a report published by World Neurosurgery, in 2020, there were 153,288 anterior cervical discectomy and fusions performed in the U.S. As per the same report, the number of surgeries is estimated to increase by 13.3% by 2040. Moreover, rise in in the number of bone void fillers industry launching bone void fillers products fuels the growth of bone void fillers market. For instance, in January 2022, Bone Solution Inc., an ortho-biologics technology company, announced the launch of Mg OSTEOINJECT, an injectable magnesium-based bone void filler.

 Key Market Segments

By Type
Demineralized bone matrix
Calcium phosphate bone graft substitute
Collagen Matrix
Others

By Form
Gel and Putty
Granules
Others

By Application
Spine fusion
Bone fracture
Others

North America accounted for a majority of the global bone void fillers market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to higher adoption of synthetic bone void fillers, large presence of medical device companies, availability of well-developed healthcare infrastructure, and wide availability of bone void fillers. However, Asia-Pacific is anticipated to witness lucrative growth in the future, owing to increase in prevalence of orthopedic diseases, rise in awareness about the use of bone void fillers, surge in healthcare expenditure, and increase in geriatric population.

 Key Market Players

Arthrex Inc
Baxter International Inc.
depuy synthes companies
Medtronic plc
NuVasive Inc
Orthofix Medical Inc
Smith and Nephew plc
Stryker Corporation
Wright Medical Group Inc
Zimmer Biomet

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We also Offers Regional and Country Reports-

Japan Bone Void Fillers Market
South Korea Bone Void Fillers Market
Singapore Bone Void Fillers Market
China Bone Void Fillers Market
Indonesia Bone Void Fillers Market
Australia Bone Void Fillers Market
Taiwan Bone Void Fillers Market

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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Allied Analytics LLP
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