The osteonecrosis treatment market is expected to register a CAGR of 6.2% during the forecast period. Osteonecrosis, also known as avascular necrosis, is the death of bone tissue due to a lack of blood supply, which can lead to tiny breaks in the bone and the bone's eventual collapse. Although the pathophysiology of osteonecrosis or avascular necrosis is not yet well-understood, it is thought to be a multifactorial disease, with patients reporting exposure to one or more risk factors such as alcohol abuse, corticosteroid use, trauma to the hip, chemotherapy, caisson disease, HIV, hemoglobinopathies, and pregnancy. Osteonecrosis occurs when blood flow to a bone is interrupted or reduced, and this can be due to joint or bone trauma, fatty deposits in blood vessels, and certain diseases. Most of the people have no symptoms in the early stages of avascular necrosis. As the condition worsens, the affected joint might hurt and feel the pain, which can be mild or severe and usually develops gradually. Osteonecrosis progression can be halted through core decompression, osteotomy, bone grafting, and other medical treatments.
The rise in the geriatric population increases the incidence of osteonecrosis worldwide, the growing demand for non-invasive treatment, and technological advancements for a better treatment for osteonecrosis are the key driving factors in osteonecrosis treatment market.
Key Market Trends
The Drugs Segment is Expected to Hold a Major Market Share in the Osteonecrosis Treatment Market
- Some of the classes of drugs used to treat osteonecrosis are nonsteroidal anti-inflammatory drugs, cholesterol-lowering drugs, blood thinners, and others.
- According to the National Organization for Rare Disorder (NORD), in the United States, about 10,000 to 20,000 people develop osteonecrosis every year. Moreover, osteonecrosis affects people between 30 and 50 years of age.
- Drugs segment holds a significant market share in the osteonecrosis treatment market and is anticipated to show a similar trend over the forecast period due to being highly effective, non-invasive, and fewer side effects than compared to other therapies.
- Rise in the geriatric population, growing demand for non-invasive treatment and technological advancements for a better treatment for osteonecrosis are the key driving factors in the drugs segment.
North America is Expected to Hold a Significant Share in the Market during the Forecast Period
North America expected to hold a major market share in the global osteonecrosis treatment market due to an increase in the geriatric population and growing awareness among people about the diagnosis of the disease in this region. According to the American Population Reference Bureau Report, around 52 million Americans are above 65 years of age in the year 2018, which is projected to reach 95 million by the year 2060. In addition, the 65-and-older age group’s share of the total population will rise from 16 percent to 23 percent. Furthermore, technological advancement and the launch of new treatment options, increasing healthcare spending, and the presence of well-established healthcare infrastructure are also fueling the growth of the overall regional market to a large extent.
The osteonecrosis treatment market is moderately fragmented competitive and consists of several major players. Some of the leading companies operating in the market include Novartis AG, Pfizer Inc., Teva Pharmaceutical Industries Ltd, Mylan NV, Zimmer Biomet, Merck & Co. Inc., Enzo Biochem Inc., Atnahs, Bone Therapeutics SA, and Vericel Corporation, among others.
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