Osseointegration Implants Market – Insights
Osseointegration is a process in which a bone anchorage is used on an implant surface which provides a basis to support a prosthesis till that part of the body becomes stronger and supports firmly. These implants are used in various applications such as dental implants, bone and joint replacement procedures, and implants undertaken for amputees. The osseointegration implants are made from material such as titanium, zirconia, ceramic, stainless steel, and others.
The global osseointegration implants market size was valued at US$ 5,672.3 million in 2017, and is projected to witness a CAGR of 6.72% over the forecast period (2018 – 2026).
Global Osseointegration Implants Market Share (%) Analysis, by Product Type 2018 and 2026
Source: Coherent Market Insights Analysis (2018)
Growing Number of Joint Replacement Surgeries Among Geriatric Population is Expected to Drive the Osseointegration Implants Market Revenue
Increasing patient population undergoing joint replacement surgeries has boosted growth of the global osseointegration implants market. According to the National Joint Registry (NJR), in 2017, around 992,090 primary total hip replacements, 1,087,611 knee replacements, 4,687 ankle replacements, 30,720 shoulder replacements, and 2,872 elbow replacements were performed in U.K. Moreover, in U.S, around 17,500 new Spinal Cord Injury (SCI) cases are performed annually and an estimated 285,000 people were suffering from SCI in 2017, as per National Spinal Cord Injury Statistical Center (NSCISC).
Increasing demand for cosmetic dentistry, owing to rising prevalence of dental decays is supporting growth of the global osseointegration implants market. According to the U.S. Department of Health and Human Services, the prevalence of total dental caries among the age group aged 2–19 years was 45.8% and it increases with age, from 21.4% (among age group 2–5) to 50.5% (among age group 6–11) and 53.8% (among age group 12–19) in 2016. Moreover, growing disposable incomes in various countries has also influenced growth of the osseointegration implants market.
Osseointegration Implants Market Restraints
Although demand for osseointegration implants is increasing worldwide, high-cost associated with the implants or surgery with inadequate reimbursement coverage has restrained growth of the osseointegration implants market. In Australia, the surgical procedure to insert the implant is not covered by the Medicare system and is paid through self-funding or by an individual’s Private Health Insurance as per the Australian Orthotic Prosthetic Association. Moreover, risk and complications associated with osseointegration surgery is one of the major factor hampering growth of the market. Some of major risk and complications associated with osseointegration implants includes irritation of the soft tissues in the skin-penetration area and post-surgical infections. The failure of the treatment might result in re-amputation at a higher level or reverting to a conventional prosthesis.
Osseointegration Implants Market - Regional Insights
On the basis of region, the global osseointegration implants market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold the leading position in the global osseointegration implants market by 2026, owing to well-established healthcare infrastructure, high adoption rate for technologically advanced products, and growing widespread awareness about minimally invasive surgeries. Moreover, high prevalence of degenerative spinal conditions are fueling growth of the market in this region. For instance, according to Osteoarthritis Research Society International, in U.S., the prevalence of disc degeneration over the entire spine was 71% in men and 77% in women aged <50 years and >90% in both men and women aged >50 years in 2014.
Asia Pacific osseointegration implants market is expected to grow at significant rate due to high patient pool in the region coupled with high proportion of elderly population seeking treatment, which in turn is expected to drive growth of medical sector in countries such as India. Continuous developments and rising demand for better osseointegration implants device in the region are expected to propel demand for the osseointegration implants in the near future.
Global Osseointegration Implants Market Value (US$ Mn) & Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2018)
Osseointegration Implants Market - Competitive Landscape
Key players operating in the global osseointegration implants market include Medtronic, Stryker Corporation, Zimmer Biomet Holdings, Smith and Nephew Plc., Straumann AG Group, Integrum SE, Southern Implants, ConMed Corporation and others. Manufacturers in osseointegration implants market are focused on expanding their distribution channels in emerging economies, which offers untapped growth opportunities for the growth of the osseointegration implants market. For instance, in May 2018, Datum Dental, Ltd, leading provider of innovative solutions for bone and tissue regeneration for dentistry has entered into a distribution agreement with Dentsply Sirona. Dentsply Sirona will promote the full OSSIX product line in U.S.