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The Bovine-based Collagen for Biomedical Applications market studied was projected to grow with a CAGR of nearly 9.7% over the forecast period. The major factor attributing to the growth of the market is the increasing demand for bovine-based collagen in biomedical applications to treat various medical conditions like arthritis, osteoporosis and improving skin health. Furthermore, the increasing demand for dental, orthopedic surgeries for reconstruction, and rise in research and development of wound healing and regenerative medicines is boosting the market growth. However, the high risk of disease transmission is the major drawback of market growth.
Key Market Trends
Bone-graft Substitute Segment Accounted for a Dominant Share of the Market
- A bone substitute can be defined as a synthetic, inorganic or biologically organic combination which can be inserted for the treatment of a bone defect instead of autogenous or allogenous bone. Bone is mainly made of collagen and carbonate substituted hydroxyapatite. An implant manufactured from such components is likely to behave better. The ductile properties of collagen help to increase the poor fracture toughness of hydroxyapatites.
- The factors boosting the segment growth are increasing prevalence of bone related diseases like osteoporosis and arthritis. According to International Osteoporosis Foundation, in 2018 it is estimated that over 200 million people globally suffer from osteoporosis. Approximately 30% of all postmenopausal women have osteoporosis in the United States and in Europe. Aging of populations worldwide will be responsible for a major increase in the incidence of osteoporosis in postmenopausal women and indirectly boosting the market growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of bone-related diseases in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region the United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
The Bovine-based Collagen for Biomedical Applications market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are BBI Solutions, Symatese, Rousselot , FOODMATE CO., LTD., Botiss biomaterials GmbH, Medtronic, Taxus Cardium, KYERON, Collagen Matrix, Inc.
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