Transparency Market Research
Osteonecrosis Treatment Market: Snapshot
Osteonecrosis is a condition where a bone in human body starts breaking due to loss of blood and eventually dies. This disease has high prevalence in the people who are in their 30s to 50s. The exact cause of the disease is unknown, and it can majorly affect any bone in the body. However, if the bone near the joint is affected by osteonecrosis, it also impacts the surface and eventually the complete joint. Looking at the criticality of the disease, and the number of people affected by it, osteonecrosis has a dedicated market existing for its treatment namely osteonecrosis treatment market.
It is noticeable that osteonecrosis cannot be cured, however, there are various treatments that if started early can delay or sometimes avoid the collapse of the bone. However, the treatment of the disease depends upon the cause that leads patient to suffer from osteonecrosis. Below are a few causes that has increased the demand in the osteonecrosis treatment market.
Depending upon these and various other causes of osteonecrosis, healthcare organizations and institutes provide effective treatment to the patients. The cause-specific nature of the treatment is also one of the major factor that is surging the growth of global osteonecrosis treatment market.
A prominent factor contributing to the growth of the osteonecrosis treatment market is the rise in consumption of alcohol observed across the globe. In the U.S alone, the number of people consuming alcohol has risen exponentially during the period 2002-03 to 2012-13, according to an independent study conducted by the National Institute on Alcohol Abuse and Alcoholism. The study also finds that the number of female alcohol consumers has more than doubled in the reported time period. Excessive alcohol consumption over a considerable period of time leads to abnormal lipid metabolism, which is a prominent risk factor for alcohol-induced osteonecrosis.
Rise in hip injuries owing to surge in geriatric population is expected to drive the osteonecrosis treatment market during the forecast period. Hip injuries may lead to interruption of flow of blood to the bone, causing trauma-related avascular necrosis. Osteonecrosis may develop in 20% of the people with hip injuries. According to the United Nations’ World Population Ageing report, the number of people above the age of 60 years stood at 962 million in 2017, which is projected to reach 2.1 billion by 2050, globally. Rise in geriatric population is anticipated to increase the number of cases of hip injuries, which in turn, augments the patient population suffering from osteonecrosis. This is likely to drive the demand for medications and therapies used to manage these conditions.
Additionally, ongoing measures undertaken by biotechnology companies aimed at developing novel treatment options for people suffering from osteonecrosis is also expected to drive the growth of the osteonecrosis treatment market. In September 2017, Bone Therapeutics, a biotechnology company engaged in developing cell therapy-based products for bone diseases and orthopedics and Asahi Kasei Corporation, a major chemicals company, entered into an exclusive royalty bearing license agreement for the development and commercialization of PREOB, an autologous bone cell therapy product developed by Bone Therapeutics, in Japan. Such strategic initiatives focused on launch of new and effective treatment options for managing this condition is likely to boost the osteonecrosis treatment market during the forecast period from 2018 to 2026.
The global osteonecrosis treatment market can be segmented based on treatment type, end-user, and region. In terms of treatment type, the market can be classified into non-surgical treatment and surgical treatment. Based on end-user, the osteonecrosis treatment market can be divided into hospitals, ambulatory surgical centers, and orthopedic clinics.
In terms of region, the global osteonecrosis treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global osteonecrosis treatment market due to launch of new treatment options in the region. The osteonecrosis treatment market in Asia Pacific is projected to grow significantly during the forecast period owing to the increase in geriatric population in the region.
Key players operating in the global osteonecrosis treatment market include Bone Therapeutics SA, Enzo Biochem Inc, Integra LifeSciences Corporation., and K-Stemcell Co Ltd.
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