Market Size of Bone Marrow Aspirate Concentrates Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bone Marrow Aspirate Concentrates Market Analysis
The bone marrow aspirate concentrates market is expected to register a CAGR of 5.0% during the forecast period.
- The COVID-19 pandemic significantly impacted the growth of the healthcare industry. Several elective and non-urgent surgeries and therapies were either postponed or canceled, which negatively affected the growth of the bone marrow aspirate concentrate market. For instance, an article published in the Annals of Rheumatic Diseases in January 2021 indicated that during the COVID-19 pandemic, people with musculoskeletal disorders were advised not to seek emergency treatment because of fear of getting contaminated with the SARS-Cov-2 virus.
- It also suggested that the elderly population had a higher risk of osteoarthritis due to higher body mass index (BMI), and reduced physical activity. The age group was the most affected by COVID-19. Hence, there was a lag in treating musculoskeletal disorders during the pandemic, which restricted the market growth. However, since the restrictions were removed two years ago, the market has been recovering strongly.
- Increased prevalence of orthopedic diseases and sports injuries, and increasing applications of bone marrow aspirate concentrate (BMAC) products in orthopedic surgeries, are driving the market growth.
- Due to the frequent hosting of mega sporting events like the Asian Games, where thousands of sportspeople compete, there is a significant likelihood of sports-related injuries occurring, which is likely to increase demand for innovative therapies. Also, according to the Modern Gentlemen 2021 data, there are around 3.5 million injuries every year among children and teenagers engaged in sports. Over 4% of all injuries require surgery, which is likely to create a demand for bone marrow aspirate concentrate.
- Furthermore, technological advancements, favorable government regulations, and the increasing prevalence of orthopedic diseases are the factors that may further contribute to the bone marrow aspirate concentrate market growth.
- However, the high failure rate associated with bone marrow aspirate concentrates is expected to restrict the market growth over the forecast period.
