Advances in Surgical Technologies Boost Demand for Efficient Bone Graft Substitutes, Finds Frost & Sullivan
- Clinical data vital to increase reimbursement and adoption of bone grafts
MOUNTAIN VIEW, California, March 27, 2013 /PRNewswire/ -- Product and technology improvements in healthcare increased the number of orthopedic surgeries and subsequently, the demand for efficacious bone graft materials in the United States. 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.
New analysis from Frost & Sullivan's (http://www.medtech.frost.com) Analysis of the United States Bone Grafts and Bone Graft Substitutes Market research finds the market earned revenue of $1.60 billion in 2012 and estimates this to reach $1.65 billion in 2016.
For more information on this research, please email Britni Myers, Corporate Communications, at britni.myers@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
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.
"Despite these market opportunities, companies are differentiating themselves on the cost effectiveness of their products due to the current economic scenario," said Frost & Sullivan Advanced Medical Technologies Senior Industry Analyst Aarti Shetty. "With comparative effectiveness programs in place, the newer biologics technologies will be compared with existing, proven methods."
Major orthopedic surgeries are established procedures and reimbursements are not an issue. However, with innovation, the prices for bone graft products have started escalating, making cost-benefit analyses crucial for reimbursement.
Poor or lack of reimbursement for expensive innovative technologies hinders technology adoption. The newer technologies in all segments have limited clinical data that supports their advantages over autografts. Thus, obtaining approval for reimbursement for products with minimal cost-benefit analyses is becoming increasingly difficult.
"Differentiation based on unique functions and patient outcomes in the bone graft substitutes market is becoming a vital competitive factor, especially with the entry of more competitors," noted Shetty. "The introduction of new product segments with strong clinical data will give a significant boost to investors' interest in the bone grafts and bone graft substitutes market."
Analysis of the United States Bone Grafts and Bone Graft Substitutes Market is part of the Advanced Medical Technologies Growth Partnership Service program, which also includes: Analysis of the Hip Implants Market, Analysis of the Knee Implants Market, Analysis of the Orthopedic Implants Market – The Future of Joint Replacements, and U.S. Tissue Engineering Markets. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the United States Bone Grafts and Bone Graft Substitutes Market
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Contact:
Britni Myers
Corporate Communications – North America
P: 210.477.8481
F: 210.348.1003
E: britni.myers@frost.com
Twitter: @Frost_Sullivan
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