Avascular Necrosis Market Size Is Projected to Grow at a 6.58% CAGR By 2024

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Jan 13, 2021 (Heraldkeepers) — Global Avascular Necrosis Market Overview

Avascular necrosis is observed to generally affect men between the ages of 30 to 50 years, and this has been particularly high in the emerging economies. Surgery is inevitable for the treatment of avascular necrosis, and medication is essential to treat the disorder, thus driving the global avascular necrosis market through the forecast period. Furthermore, this is also projected to drive the demand for minimally invasive treatment options. With an increased bone disorder burden across the globe, coupled with a rising global geriatric population is anticipated to drive the global avascular necrosis market to a great extent. Changing lifestyles, amplified prevalence of alcoholism and steroid use, especially observed among the young and middle-aged individuals are significant factors contributing to the ascension of the global avascular necrosis market.

In the state-of-the-art report published by Market Research Future (MRFR), the global avascular necrosis market is stated to expand at a lucrative CAGR of 6.58% during the forecast period. Avascular necrosis (AVN) is a bone disorder which occurs when bone tissue begins to die owing to the insufficient supply of blood. Avascular necrosis is often caused by joint or bone trauma, long-term steroid use, or prolonged alcohol abuse.

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Renowned orthopedic surgeon Dr. Amarnath Surath announced the launch of Centre for Regenerative Medicine (CRM). Right before the launch, the surgeon completed trial runs of his newly launched PRP kit, which aims at not only relieving patients of joint pain but also, bypass surgical replacement of joints. The CRM is also actively involved in the treatment of fracture non-unions and avascular necrosis of the hip.

Avascular Necrosis Market Regional Analysis

The global avascular necrosis market is regionally segmented into North America, Latin America, Europe, Asia Pacific (APAC,) and the Middle East & Africa (MEA). The Americas are anticipated to lead the global avascular necrosis market owing to the concentration of market players in the region. An affinity towards the adoption of technically advanced medical treatments and practices has promoted regional growth in the region. The U.S. and Canada are likely to spearhead the country-specific market in the region during the forecast period. Asia Pacific is projected to inflate at the highest CAGR during the forecast period owing to the increasing prevalence of the disorder in the emerging economies present in the region. Manufacturing of medical devices is observed to increasingly shift to developing countries such as India and China owing to lower labor costs and lower investments necessary to set up the infrastructure.

Avascular Necrosis Market Key Players

The global avascular necrosis market boasts the presence of several key market vendors including Bayer AG, Integra LifeSciences Corporation, Eli Lilly and Company, Medtronic Plc, Bristol-Myers Squibb, Merck KGaA, Zimmer Biomet Holdings, Sanofi, Pfizer Inc, and Boehringer Ingelheim.

Avascular Necrosis Market Segmentation

The global avascular necrosis market is segmented by types, disease site, diagnosis, treatment, end-user, and region. Based on types, the global avascular necrosis market is segmented into trauma-related avascular necrosis (AVN) and non-trauma related avascular necrosis (NAVN). The non-trauma related avascular necrosis segment is anticipated to lead the global market owing to the cumulative cases of alcoholism and illegal steroid use.

On the basis of disease sites, the global avascular necrosis market is segmented into hip bone, knee, and shoulder. The hip bone segment is expected to lead the global avascular necrosis market during the forecast period. Based on treatment, the global avascular necrosis market is segmented into medication, electrical stimulation, gene therapy, and surgery. The surgery segment is anticipated to account for the biggest market share as it is the only treatment that provides long-term relief. However, gene therapy is expected to grow at a significant rate in the foreseeable future

Based on diagnosis, the market is segmented into imaging diagnosis and biopsy diagnosis. The imaging diagnosis is highly preferred as it is minimally invasive and is vital in the early diagnosis of the disorder. Based on end-user, the global avascular necrosis market is segmented into diagnostic centers, hospitals & clinics, ambulatory surgical centers.

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The MarketWatch News Department was not involved in the creation of this content.