Advances In Surgical Technologies Boost Demand For Efficient Bone Graft Substitutes, Finds Frost & Sullivan
MOUNTAIN VIEW, Calif., 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.
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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.
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