Market Synopsis:
Market Research Future (MRFR)’s latest study reveals that the global bone graft substitutes market is expected to expand at 7.86% CAGR during the forecast period 2022 to 2030. The market is set to reach a valuation of USD 4.47 Bn by the end of the assessment period. The increasing prevalence of diseases related to bones has intensified the demand for bone graft substitutes. Additionally, the rising awareness about the developments in bone graft substitutes coupled with rising healthcare expenditure is likely to augment the market size and revenue over the next couple of years.
The painful procedure related to autografts have paved the way for developments in the bone graft substitutes market. Hence, the demand for alternatives such as allografts, xenografts, and synthetic bone grafts has been on the rise. It is projected to aid the proliferation of the market in the forthcoming years by accelerating its adoption.
The growth of the bone graft substitutes market is guided by the factors such as increasing orthopedic problems, exponential geriatric population, and rising demand for reconstructive orthopedic treatments. The adoption of bone graft substitutes in the oral healthcare sector is another factor responsible for catalyzing the growth of the bone graft substitutes market through the assessment period.
The bone graft substitutes market is poised to remain highly lucrative in the foreseeable future. However, risks associated with disease transmission in allografts and xenograft as well as graft rejection, improper fixation, etc. are prognosticated to restrict the market expansion over the forecast period.
Regional Insights:
By region, the global bone graft substitutes market has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas accounted for the largest share of the global market in 2016. It is expected to retain a significant share of the market by the end of 2027 striking a CAGR of 6.1%. The growth is attributable to the technological advancements in health care, the presence of key players, etc. The developed healthcare sector of the U.S. is poised to be one of the primary revenue generators in the regional bone graft substitutes market.
Europe is the second largest market for bone graft substitutes. It is estimated to thrive at 6.76% CAGR owing to increasing awareness about bone graft substitutes and rising healthcare expenditure. Meanwhile, Asia Pacific is set to register a relatively higher CAGR of 6.85% during the forecast period. The presence of fast-developing economies such as China and India are immensely supporting the growth of the bone graft substitutes market in the region. The trend is likely to perpetuate over the next couple of years.
The Middle East & Africa is expected to exhibit steady growth due to the developments in the healthcare sector in Gulf nations. However, the poor socio-economic situation in African regions remains an impediment to the market growth.
Market Segmentation:
By type, the global bone graft substitutes market is segmented into autograft, demineralized bone matrix, synthetic bone grafts, bone morphogenetic protein, and others.
By application, the bone graft substitutes market has been segmented into spinal fusion, joint reconstruction, long bone, dental, foot & ankle, and others.
Competitive Dashboard:
Sone of the key players profiled in the report includes ACE Surgical Supply Company, Inc., Dentium Co., Ltd., BioHorizons IPH, Inc., Dentsply Sirona, Medtronic plc, Stryker Corporation, Zimmer Biomet, and Institut Straumann AG.
Industry Developments:
In August 2018, BoneSupport, a Scandinavian orthobiologics company, won Health Canada approval for Cerament G bone graft substitute.
In September 2018, Baxter International Inc., an American healthcare company, received FDA clearance for its Actifuse Flow bone graft substitute. It shall be used in orthopedic surgical procedures.
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