28 Mar 2013, BioSpectrum Bureau , BioSpectrum
Singapore: Product and technology improvements in healthcare increased the number of orthopedic surgeries and subsequently, the demand for efficacious bone graft materials in the US. According to Frost & Sullivan, the US bone grafts and bone graft substitutes market is estimated to be $1.60 billion in 2012 and expected to reach $1.65 billion in 2016.
Owing to these technology introductions, new market segments such as cell-based matrices are gaining at the expense of some others, such as the bone morphogenetic protein (BMP) market.
A significant percent of the orthopedic patient population is comprised of baby boomers that lead active lifestyles and are prone to injuries. The younger demographic patient pool is also expanding, as minimally invasive surgery techniques enable partial joint replacement surgeries.
Ms Aarti Shetty, senior industry analyst, advanced medical technologies, Frost & Sullivan, said that, "Despite these market opportunities, companies are differentiating themselves on the cost effectiveness of their products due to the current economic scenario. With comparative effectiveness programs in place, the newer biologics technologies will be compared with existing, proven methods."