Avascular Necrosis Market 2020-Development History, Current Analysis and Estimated Forecast to 2024
Research Reports
Dec 29, 2020
Market Insights
Avascular necrosis (AVN) occurs when bone tissue begins to die due to a lack of sufficient supply of blood. The condition is often caused by joint or bone trauma, long-term steroid use or alcohol abuse. Market Research Future has released a report on the global avascular necrosis market which reveals that the global market is expected to grow at a CAGR 6.58% during the forecast period from 2018 to 2024.
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The disease has been observed to commonly affect men between the ages of 30 to 50 years and has been particularly high in occurrence in emerging economies. Surgery is an inevitable part of avascular necrosis, and medication is required to treat the condition, thus driving the global avascular necrosis market. Moreover, this factor is also driving the demand for minimally invasive treatment options. Notably, avascular necrosis or osteonecrosis is a challenging condition to diagnose and can often be overlooked until it has approached a later stage, and no known cure exists. This factor has driven R&D activities on the part of market players with a focus on drug discovery.
Medical implants are restricted by stringent regulations which are aimed at improvement of quality, this has adversely affected the cost of surgery and restrains the global avascular necrosis market. Moreover, there is a shortage of skilled orthopedic surgeons which further challenges the market. However, due to the high demand for non-surgical treatment, drug development activities are expected to reveal opportunities in the coming years.
Market Segmentation
MRFR’s detailed report includes segmentation of the global avascular necrosis market on the basis of type, site, diagnosis, treatment, end-user, and region. Types of avascular necrosis recorded in the report include trauma-related avascular necrosis and non-trauma related avascular necrosis. Between these, non-trauma related AVN accounts for a larger share of the market due to increasing cases of alcoholism and illegal steroid use. Avascular necrosis can occur largely in the hip bone, knee, shoulder, and others. Hip bones have been observed to have the largest share of the market.
By diagnosis, the market is divided between imaging and biopsy; the former is a more preferred form of diagnosis as it is minimally invasive, and is vital is early diagnoses of the disease. Treatment of avascular necrosis includes electrical stimulation, medication, gene therapy, and surgery. Surgery accounts for the leading segment as it is the only method of treatment which provides long-term relief. However, gene therapy is an up and coming treatment option which is expected to witness rapid growth. By end-users, the market is segmented into hospitals & clinics, ambulatory surgical centers, and diagnostic centers.
Regional Analysis
The Americas is the leading regional segment for avascular necrosis primarily due to the concentration of market players in the region. The affinity toward adoption of technically advanced medical treatments and practices have propelled the regional market into a leadership position with the U.S and Canada being key country-level markets. The Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of the disease in the emerging economies present in the region. Manufacturing of medical devices is increasingly shifting to countries such as China and India due to cheap labor costs and the low investments necessary toward the set-up of infrastructure.
Key Players
Market players that have significantly impacted the global avascular necrosis market have been recorded in the report and include Integra LifeSciences Corporation, Bayer AG, Eli Lilly and Company, Bristol-Myers Squibb, Medtronic Plc, Merck KGaA, Sanofi, Zimmer Biomet Holdings, Pfizer Inc, Boehringer Ingelheim.
Latest Industry News
Regrow Biosciences has developed cell therapy for the treatment of orthopedic conditions including early stage avascular necrosis. Clinical trials are set to begin in the U.S and Europe soon.
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