Global Bone Regeneration Material Market, by Product Type (Xenogene, Partially Synthetic Materials, Synthetic Materials, Others), By Application (Orthopaedic Surgery, Bone Trauma, Dental Surgery, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 2292.1 million in 2020 and is expected to exhibit a CAGR of 3.3% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global Bone Regeneration Material Market - Impact of Coronavirus (COVID-19) Pandemic
Following the COVID-19 outbreak in December 2019, the virus has spread to more than 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 29.6 million infected individuals worldwide as of September 2020. The COVID-19 pandemic has affected the global economy in three main ways; by directly affecting production and demand, by negatively impacting the supply chain and market disruption, and through its financial impact on firms and financial markets. Nationwide lockdowns in various countries such as Italy, Spain, U.K., U.S., Australia, India, and others, have hampered growth of the medical health industry.
Moreover, severe economic crisis and broken supply chain of the medical industry is a major issue faced by bone regeneration product producing companies across the globe. The pandemic has negatively impacted the medical healthcare industry in terms of supply and demand of bone regeneration products. As a result, the global bone regeneration material market growth is also expected to witness a slowdown.
The slowdown of pharma, biopharma, and biotech companies’ manufacturing processes have also impacted production of bone regeneration materials.
Browse 31 Market Data Tables and 29 Figures spread through 144 Pages and in-depth TOC on Global Bone Regeneration Material Market, by Product Type (Xenogene, Partially Synthetic Materials, Synthetic Materials, Others), By Application (Orthopaedic Surgery, Bone Trauma, Dental Surgery, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), - Forecast to 2027"
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Moreover, increasing product launches by key players operating in global bone regeneration material market expected to drive market growth. For instance, in 2017, Karl Schumacher Dental, LLC launched its new range of regenerative products which include Allograft, Xenograft, Synthetic, and Collagen Membranes.
Similarly, in 2017, Aziyo Biologics, Inc. launched its newest OsteGro and OsteGro V. The products are optimized to protect and preserve native bone cells through Aziyo’s proprietary process. The OsteGro V joins Aziyo’s viable bone matrix platform that targets and supports the bone repairing process.
Key Takeaways of the Global Bone Regeneration Material Market: