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The global bone void fillers market size is expected to gain impetus by reaching USD 3.90 billion by 2027 and exhibiting a CAGR of 5.4% between 2020 and 2027. Fortune Business Insights, in its latest report, titled, “Bone Void Fillers Market Size, Share & Industry Analysis, By Type (Demineralized Bone Matrix (DBM), Collagen Matrix, Calcium Sulfate, Tri-calcium Phosphate, and Others), By Form (Gel, Granules, Paste, Putty, and Others), By End User (Hospitals, Specialty Clinics and Others), and Regional Forecast, 2020-2027.”, observes that the increasing focus on novel product launches by the companies is likely to bode well for the market growth during the forecast period. The report further mentions that the market was worth USD 2.80 billion in 2019.
Biocomposites Launches Novel STIMULAN Rapid Cure 3cc
Fierce competition among the market players is occurring extensively and the global bone void fillers market is no exception. Several companies are striving to gain maximum market share and maintain market stronghold during the forecast period. Biocomposites, a leading international medical device manufacturing company, is one such that is consolidating its position by offering novel product to benefit the patients. Recently, in March 2020, the company introduced the new STIMULAN Rapid Cure 3cc. According to the company, the new product is completely absorbable as it is made with calcium sulfate that is beneficial to detect infected, as well as non-infected bone sites. In addition to this, it offers great precision, flexibility, and control for several surgical applications. Michael Harris, CEO of Biocomposites had an interesting take on this development. He said, “Our main aim is to develop and introduce products such as the bone void fillers that drastically improve the way of living of the patients, while limiting hospital visits. We are very proud of our skilled and efficient team involving experts who developed STIMULAN along with the new mini STIMULAN Rapid Cure 3CC. With exciting opportunities ahead, we are trying to expand across the United States and increase our consumer base.”
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Increasing Adoption of Synthetic Products to Bolster Growth
The market report observes that the demand for synthetic bone void fillers is gaining significant pace across the globe. The synthetic products consist of calcium sulfate and tri-calcium phosphate, while offering several advantages over the traditional products. Additionally, they are highly sterile and availability of an infinite supply of raw material is boosting the demand for the product in the market. Furthermore, synthetic bone void fillers offer better success rate, while minimizing risks that are associated with the traditional products. Moreover, synthetic products are devoid of any dangerous risks such as disease transfer that makes them a popular choice. Increasing adoption of synthetic products is likely to drive the market growth during the forecast period.
Innovative Product Launches by the Companies to Spur Demand
Fortune Business Insights provides detailed insights into the highly competitive global market. The companies operating in the market are adopting several strategies, such as novel product launches and development, collaboration, and product expansion offerings to gain a major chunk of the market share between 2020 and 2027. The fiercely competitive marketplace provides many opportunities to the key players to establish themselves and maintain their robust positions.
List of the Companies Operating in the Market:
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Value (USD billion)
By End User