The Orthopedic Bioactive Glass Market is experiencing growth due to the increasing occurrence of musculoskeletal ailments and chronic skeletal conditions. This growth is further supported by factors such as a rising geriatric population and a higher prevalence of global obesity, which are expected to drive demand for the product.
An example illustrating this trend is the estimation made by the U.S. Census Bureau, which revealed that the population aged 65 years and above increased by 1.6 million between 2014 and 2015. Additionally, the growing number of trauma cases resulting from accidents and sports activities contributes to the rising demand for orthopedic bioactive glass. The participation in sports and recreational activities has been on the rise, leading to an increased risk of injuries. In 2015, for instance, National Health Statistics Reports indicated that the number of participants aged six years and above in sports and fitness activities rose from 209 million in 2014 to 213 million. Furthermore, individuals are engaging in these activities even at advanced ages, leading to a higher prevalence of orthopedic surgeries such as joint arthroplasty, joint reconstruction, and visco-supplementation. Consequently, the demand for orthopedic bioactive glass continues to grow as it is more effective in repairing hard tissues compared to other bioactive materials used in orthopedic procedures, thereby driving the demand for ceramics & bioactive glass.
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Orthopedic Bioactive Glass Market: Competitive Landscape
This section of the report enlists various leading manufacturers of the market. It helps investors comprehend strategies and collaborations that market players are focusing on to garner a competitive edge in the industry. The comprehensive report provides a significant dissection of the market. Market footprints of manufacturers are identified by observing the global revenue of manufacturers, the global presence of manufacturers, and sales by manufacturers during the 2017 to 2027 forecast period.
Key Market Players:
- Arthrex
- Biomet
- NORAKER
- SCHOTT
- Stryker
- BonAlive Biomaterials
- Mo-Sci Corporation
- DePuy Synthes, Inc.
- LASAK s.r.o.
- Matexcel
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Driving Factors of the Orthopedic Bioactive Glass Market:
- Increasing Incidence of Musculoskeletal Ailments: The rising prevalence of musculoskeletal ailments and chronic skeletal conditions is a significant driving factor for the orthopedic bioactive glass market. As the number of individuals affected by these conditions continues to increase, the demand for bioactive glass for orthopedic applications rises.
- Growing Geriatric Population: The aging population is a key driver for the market. With an increase in the elderly population, there is a higher likelihood of age-related orthopedic issues such as osteoporosis and joint degeneration. Orthopedic bioactive glass is often used in the treatment and management of these conditions, driving market growth.
- Increasing Global Obesity: The global rise in obesity rates is another driving factor for the market. Obesity is associated with a higher risk of musculoskeletal disorders, including joint problems and fractures. Orthopedic bioactive glass is utilized in the treatment of these conditions, leading to increased demand.
- Rise in Trauma Cases: The growing number of trauma cases resulting from accidents and sports injuries contributes to the demand for orthopedic bioactive glass. These injuries often require surgical interventions, including the use of bioactive glass for bone repair and regeneration.
Restraints of the Orthopedic Bioactive Glass Market:
- High Cost: The cost of orthopedic bioactive glass can be a restraint for market growth. The production and manufacturing processes involved in creating bioactive glass can be expensive, resulting in higher product costs. This can limit its adoption, especially in cost-sensitive healthcare systems or regions.
- Limited Awareness and Availability: Lack of awareness among healthcare professionals and patients about the benefits and availability of orthopedic bioactive glass can hinder market growth. Adequate education and promotion efforts are needed to enhance awareness and ensure widespread availability of these products.
- Regulatory Challenges: The orthopedic bioactive glass market is subject to regulatory requirements and approvals, which can pose challenges for manufacturers. Compliance with regulations and obtaining necessary certifications can be time-consuming and costly, potentially impeding market growth.
- Competition from Alternative Materials: The market faces competition from alternative materials used in orthopedic procedures, such as metals, ceramics, and polymers. These materials may offer similar or alternative solutions for bone repair and regeneration, creating a competitive landscape for orthopedic bioactive glass.
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