Artificial bone refers to bone-like material created in a laboratory that can be used in bone grafts, to replace human bone that was lost due to severe fractures, diseases, and others. Bone grafts are used as a filler and scaffold to facilitate bone formation and promote wound healing. These grafts are bioresorbable and have no antigen-antibody reaction. These bone grafts act as a mineral reservoir which induces new bone formation. Bone substitutes can be either derived from biological products such as ceramics, composite, polymer, hydroxyapatite, and others.
Market Dynamics
The increasing number of product launches is expected to drive the global artificial bone market. For instance, in October 2016, Stryker has announced the launch of its handheld bone graft delivery system. The LITe BIO Delivery System is approved for use in spinal fusion surgeries to deliver autograft, allograft, and synthetic material. The LITe BIO Delivery System was approved by the U.S. Foods and Drugs Administration in July 2017 for to improve visualization, to work under fluoroscopy.
However, growth of the global artificial bone market is expected to be hampered over the forecast period, owing to high cost of spinal fusion surgeries and joint replacement/ reconstruction. For instance, according to the MedSurge, a pharmaceutical company report 2018, the cost of the spine fusion surgeries in Indian hospitals ranged from around US$ 4,800 to US$ 7,800 and the cost of the scoliosis spine surgery in India ranged from US$ 10,500 to US$ 11,500 in year 2018.
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