Market Size of Osteonecrosis Treatment Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 6.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Osteonecrosis Treatment Market Analysis
The osteonecrosis treatment market is expected to register a CAGR of 6.2% during the forecast period.
The COVID-19 pandemic had a significant impact on the studied market, as osteonecrosis or avascular necrosis was a very common complication that was found in COVID-19 patients. Thus, the rising COVID-19 cases during the early pandemic also increased osteonecrosis cases among patients.
For instance, According to an article published by MDPI in November 2021, avascular necrosis (AVN) is a known complication after steroid treatment of severe COVID-19 infections or long-term COVID-19 infections. AVN can also develop shortly after a COVID-19 infection without prior steroid treatment. Apparently, COVID-19 infection alone may represent a risk factor for developing AVN, and it is estimated that, on average, AVN begins 2 weeks after COVID-19 onset in contrast to long COVID-19 late-onset AVN. Thus, the pandemic had a significant impact on market growth. However, as the pandemic has subsided, COVID-19-osteonecrosis cases have started to decrease, so the studied market is expected to have stable growth due to the high burden of the disease due to various other factors during the forecast period of the study.
The rise in the geriatric population increases the incidence of osteonecrosis worldwide. The growing demand for non-invasive treatment and technological advancements for a better treatment for osteonecrosis are the key driving factors in the osteonecrosis treatment market.
Old age is often associated with the increasing prevalence of osteonecrosis. For instance, according to an article updated by NCBI in November 2022, SONK (Spontaneous Osteonecrosis of the Knee) is more common in older persons, and a unicompartmental knee replacement provides a good functional outcome with a relatively short rehabilitation time. Moreover, according to the data published by WHO in October 2022, it is estimated that 1 in 6 people in the world will be aged 60 years or over by 2030, and the share of the population aged 60 years and over will increase to 1.4 billion by 2030. Thus, the rising geriatric population is expected to increase the demand for osteonecrosis treatment products.
Moreover, the development of various non-invasive tools for the treatment of osteonecrosis is expected to enhance the growth of the market. For instance, according to an article published by PubMed Central in September 2022, medication-related osteonecrosis of the jaw (MRONJ) is considered a serious adverse reaction, mainly due to bone-modifying agents (BMA), and for patients with advanced disease stages who are unsuitable for surgery, prolonged medical treatment is required, which comes with a consequent risk of the overuse of antibiotics and antibiotic resistance.
The abovementioned article also stated that ozone injections could be an innovative, powerful, and effective non-invasive tool for nonoperative MRONJ treatments, especially when operative (invasive) procedures could be an additional burden for complicated cases and medical challenges. Thus, the development of non-invasive techniques, such as ozone injections, is expected to boost the market growth.
Additionally, various developments by market players are also expected to enhance market growth. For instance, in April 2022, Genexa launched a clean acetaminophen pain relief product for adults. Acetaminophen is often used for the treatment of osteonecrosis.
Hence, due to the aforementioned factors, such as the rising geriatric population and the rising development of non-invasive treatment options, the market is expected to experience growth during the forecast period of the study. However, adverse side effects associated with osteonecrosis treatment are expected to impede market growth.
Osteonecrosis Treatment Industry Segmentation
As per the scope of the report, osteonecrosis, also known as avascular necrosis, is the death of bone tissue due to a lack of blood supply, which can lead to tiny breaks in the bone and the bone's eventual collapse. The osteonecrosis treatment market is segmented by treatment type (drugs and bone replacement devices/implants) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.
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Bone Replacement Devices/Implants |
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Osteonecrosis Treatment Market Size Summary
The osteonecrosis treatment market is poised for steady growth, driven by the increasing incidence of the condition, particularly among the aging population. The market's expansion is influenced by the rising demand for non-invasive treatment options and technological advancements aimed at improving treatment outcomes. The geriatric demographic is a significant contributor to market growth, as older individuals are more susceptible to osteonecrosis. The development of innovative non-invasive techniques, such as ozone injections, is expected to further propel market growth. Additionally, the market is witnessing advancements in bone replacement surgeries, which offer substantial benefits, including pain reduction and functional improvement, thereby enhancing the overall treatment landscape.
North America is anticipated to hold a substantial share of the osteonecrosis treatment market, attributed to the growing awareness of the disease and the increasing geriatric population in the region. The high prevalence of osteonecrosis, coupled with the region's robust healthcare infrastructure, supports market expansion. Key players in the market are focusing on research and development to introduce new products, with companies like Novartis AG, Pfizer Inc., and Zimmer Biomet leading the charge. The market's moderately fragmented nature encourages competition and innovation, contributing to the development of effective treatment options. As the market evolves, it is expected to experience continued growth, driven by these dynamic factors.
Osteonecrosis Treatment Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Burden of Osteonecrosis Worldwide Coupled with Rise in Geriatric Population
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1.2.2 Growing Demand for Non-invasive Treatment and Technological Advancements
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1.3 Market Restraints
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1.3.1 Adverse Side Effects Associated with Osteonecrosis Treatment
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Treatment Type
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2.1.1 Drugs
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2.1.1.1 Nonsteroidal Anti-Inflammatory Drugs
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2.1.1.2 Cholesterol-Lowering Drugs
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2.1.1.3 Blood Thinners
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2.1.1.4 Other Drugs
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2.1.2 Bone Replacement Devices/Implants
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Osteonecrosis Treatment Market Size FAQs
What is the current Osteonecrosis Treatment Market size?
The Osteonecrosis Treatment Market is projected to register a CAGR of 6.20% during the forecast period (2024-2029)
Who are the key players in Osteonecrosis Treatment Market?
Novartis AG, Pfizer Inc, Teva Pharmaceutical Industries Ltd, Zimmer Biomet and Viatris Inc. are the major companies operating in the Osteonecrosis Treatment Market.