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Follow on Google News | Bone Graft Substitutes - Global Pipeline Analysis, Competitive Landscape and Market Forecast to 2017The Bone Graft Substitutes Market is Forecast to Reach $3.3 billion by 2017
By: GlobalData The US bone graft substitute market was valued at $1.3 billion in 2010, and is forecast to reach $2.2 billion in 2017, with a CAGR of 7.4%. The growth in the market is driven by higher adoption of bone graft substitutes for orthopedic procedures, significant number of orthopedic procedures performed, and increase in reimbursement for orthopedic procedures. In July 2009, the Center for Medicare and Medicaid Services (CMS) announced their revised payment rates for hospitals treating Medicare patients, effective for cases discharged between October 1, 2009 and September 30, 2010, in their report “Medicare Program; Changes to the Hospital Inpatient Prospective Payment Systems for Acute Care Hospitals and Fiscal Year 2010 Rates”. The CMS also upgraded the two-stage revision hip and knee surgery reimbursement from the classification MS-DRGs 480-482 or 495-497 to the higher paying MS-DRGs 463-465. This increase in the reimbursement rates is expected to increase the application of bone graft substitutes in orthopedic procedures. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ In 2010, Medtronic with 44% share was the dominant player in the global bone graft substitutes market. Synthes, Wright Medical, Orthovita, Stryker and Osteotech also had significant presence in the market. Medtronic’s leadership can be attributed to its dominance of the Bone Morphogenetic Proteins (BMPs) market segment. The company has more than 90% share in the global BMP market, which was valued at $868m in 2010. The number of orthopedic procedures performed globally is on the rise. It is estimated that out of the total number of orthopedic procedures performed globally, almost 18-20% involve usage of bone graft substitutes. The increase in the number of orthopedic procedures is a key driver for the increase in the use of bone graft substitutes. The increasing population of elderly people worldwide clearly is an important driver for the global bone graft substitute market. Globally, the population of 65 and older is growing by 2% each year, which is considerably faster than the overall growth rate of the global population. For at least the next 25 years, the older population is expected to continue growing more rapidly than other age groups. GlobalData’s new report, “Bone Graft Substitutes – Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global bone graft substitutes market. The report provides market landscape, competitive landscape and market trends information on the bone graft substitutes market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage including oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries. End
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