Market Trends of Bone Marrow Aspirate Concentrates Industry
This section covers the major market trends shaping the Bone Marrow Aspirate Concentrates Market according to our research experts:
Orthopedic Surgery Segment is Expected to Hold a Significant Market Share Over the Forecast Period
- The orthopedic surgery segment is expected to grow significantly owing to the increasing number of musculoskeletal disorders and the innovations in treating such disorders. There has been a rise in the number of osteoporosis cases worldwide.
- For instance, according to an article published in the journal of Climacteric in January 2022, osteoporosis causes more than 8.9 million fractures worldwide, resulting in an osteoporotic fracture every 3 seconds. The article indicated that osteoporosis affected 200 million women worldwide as of January 2022. The large number of people affected by bone disorders is expected to add to the market growth.
- In addition, the World Health Organization (WHO) update from July 2022 states that 1.71 billion individuals worldwide are currently afflicted with musculoskeletal problems. Furthermore, as per the Australian Institute of Health and Welfare (AIHW) article on chronic musculoskeletal conditions published in July 2022, around 6.9 million people in Australia were affected by musculoskeletal disorders in 2021. Thus, the high burden of musculoskeletal disorders is expected to boost segment growth during the forecast period.
- One of the promising and cutting-edge therapies for osteoarthritis is bone marrow-derived stem cell therapy. In the case of surgery, the healing process for an injury typically takes four to six months, whereas bone marrow-derived stem cell therapy speeds up the process to five to six weeks. Therefore, the increased prevalence of osteoarthritis and the increasing need for stem cell therapies obtained from bone marrow are the main drivers of the market for bone marrow aspirate concentrates.
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North America is Expected to Hold a Significant Market Share Over the Forecast Period.
- North America is expected to hold a significant share of the global bone marrow aspirate concentrates market due to the rising prevalence of osteoarthritis diseases, technological advancements, and awareness about stem cell therapy in this region.
- Osteoarthritis (OA) is the most common joint disorder in the United States. For instance, according to an article by the American Society for Biochemistry and Molecular Biology (ASBMB) published in May 2022, osteoporosis is likely to be responsible for three million fractures resulting in USD 25.3 billion in costs annually by the end of 2025. The high burden of osteoporosis and huge healthcare expenses in the United States is expected to boost market growth over the forecast period.
- Furthermore, a growing geriatric population in the country and the increasing incidence of osteoarthritis are likely to fuel the overall regional market growth greatly. For instance, as per the United States Census Bureau data, the number of people above 65 years of age is projected to reach 73.1 million by 2030 and around 94.7 million by 2060, representing approximately 23% of the population in the United States by 2060. The rising geriatric population in the country is estimated to propel the market growth in the region during the forecast period.
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