Market Trends of Osteonecrosis Treatment Industry
The Bone Replacement Devices/Implants Segment is Expected to Hold a Significant Market Share in the Osteonecrosis Treatment Market
The bone transplant (graft) procedure can help strengthen the area of bone affected by avascular necrosis, and the graft used is a section of healthy bone taken from another part of the body. Joint replacement surgery is also performed if the affected bone has collapsed or other treatments aren't helping. Surgery can replace the damaged parts of the joint with plastic or metal parts. The increasing advantages of bone replacement surgeries are a major factor driving the growth of the market. The rising geriatric population associated with the increasing prevalence of osteonecrosis is also increasing bone replacement procedures.
According to an article updated by NCBI in November 2022, many patients with hip osteonecrosis will ultimately need a total hip arthroplasty as non-invasive procedures and medications prove to be ineffective. The article also stated that total hip arthroplasty is indicated for hip osteonecrosis when patients are older than 40 years and have large lesions or are young with more advanced femoral head collapse and degenerated acetabulum. Cementless prosthesis for both the femur and acetabulum is predominantly used, and outcomes are usually good in terms of pain reduction and functional improvement. Thus, the advantages offered by bone replacement procedures are expected to boost segment growth.
Moreover, according to the United Nations World Population Prospects 2022, it is estimated that 10% of the global population will be aged 65 years or older in 2022, and this is expected to rise to 16% by 2050. As older people are more likely to adopt bone replacement procedures, the rising geriatric population is expected to enhance the growth of the segment.
Thus, due to the aforementioned factors, such as the rising geriatric population and the advantages offered by bone replacement procedures, the studied segment is expected to experience growth during the forecast period of the study.
North America is Expected to Hold a Significant Share in the Market during the Forecast Period
North America is expected to hold a significant market share in the osteonecrosis treatment market due to an increase in the geriatric population and growing awareness among people about the diagnosis of the disease in this region. For instance, according to the data published by Statistics Canada in July 2022, it is estimated that around 7,330,605 people were aged 65 years or older in Canada in 2022; this accounts for 18.8% of the total population, and around 2,573,624 people were aged 40 to 44 in Canada.
Furthermore, the high prevalence of osteonecrosis in the region is also expected to enhance market growth. For instance, according to an article updated by NCBI in November 2022, it has been estimated that ten percent of total hip arthroplasties in the United States are due to avascular necrosis or osteonecrosis, and it typically affects ages 30 to 65 years old. Moreover, the rising geriatric population in the United States is also expected to significantly increase the market growth. For instance, according to the United Nations Population Fund 2022 dashboard, it is estimated that 17% of people are 65 years and older in the United States in 2022.
Additionally, various developments by market players are also expected to enhance market growth. For instance, in June 2022, Strides Pharma received the United States FDA (USFDA) approval for ibuprofen OTC oral suspension 50mg/1.25mL. Ibuprofen is an NSAID that is often used for the treatment of osteonecrosis.
Thus, due to the aforementioned factors, such as the rising geriatric population and the rising prevalence of osteonecrosis, the studied market is expected to experience growth in the region during the forecast period of the study.
