North America Market Comprises Of 53.1% Market Share Due To Rising Number Of Spine-Related Disorders
North America Market Comprises Of 53.1% Market Share Due To Rising Number Of Spine-Related Disorders
Fact.MR – A Market Research and Competitive Intelligence Provider: The global bone grafts and substitutes market reached a valuation of US$ 3.06 Bn in 2020. Moreover, sales of bone grafts and substitutes are slated to rise at a CAGR of 4.9% to reach US$ 4.44 Bn by the end of 2028.
Bone grafts and substitutes (BGS) are rapidly used common materials used mainly to replace missing bones or mend fractures. Moreover, it is commonly being used in the hip, foot, and ankle surgeries, as well as fractures and musculoskeletal injuries. Moreover, the primary goal of using bone grafts and substitutes is to aid in the healing of fractures and bone injuries, as well as to replace natural bone.
Moreover, surge in demand for synthetics and xenografts, rise in usage of bone graft substitutes in regenerative medicines, and the surge in the number of illnesses that necessitate their usage would propel the market for bone grafts and substitutes forward.
In addition to this, continuous R&D initiatives to upgrade product offerings are one of the most common trends in the market. This rise in R&D initiatives is driven by surge in need for bone graft substitutes for bone-related occurrences fractures and trauma. Researchers from across the globe are putting in efforts to find new ways to use bone grafts in regenerative medicines.
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Key Takeaways:
- North America is projected to witness 53.1% share of the bone grafts and substitutes market over the forecast period attributed to the surge in prevalence of spine-related diseases, as well as the growing geriatric population.
- The bone grafts and substitutes market in China is growing due to an increase in the usage of allografts and other alternative products, a steady supply of orthopedic equipment, and a growing acceptance of autograft bone.
- Hospitals are expected to dominate the global market during the forecast period owing to rising prevalence of various chronic bone disorders across the globe.
Growth Drivers:
- Factors such as rise in orthopedic surgical operations, a transition from non-biodegradable bone graft substitutes to biodegradable bone graft substitutes, and new product releases are expected to be the primary influencing factors in driving the bone grafts and substitutes market growth.
- Rise in public knowledge of commercially available new products, a strong presence of bone graft and substitute producers, and increased healthcare expenditure are all factors contributing to growth of the market.
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Key Restraints:
- Risks associated with associated with surgery failure and graft failure are projected to stifle market growth over the projection period.
- Bone grafts and substitutes are expensive devices and moreover, possibility of infections associated with allografts and synthetic bone grafts act as a restraint to the growth of the market.
Competitive Landscape:
Bone grafts manufacturers are constantly investing in the development of new products with improved bioactivity, biocompatibility, and mechanical qualities. Companies have a varied product portfolio that is technologically advanced, as well as a larger global presence. Key players in the market are putting emphasis on innovative products in various orthopedic application areas.
For instance,
- Synthes, Inc, a Johnson & Johnson Company is a manufacturer of chronOS Strip bone graft substitute. The chronOS-tricalcium phosphate granules in this synthetic bone transplant can be perfused with the patient’s bone marrow and blood.
Key Companies Profiled by Fact.MR
- AlloSource
- Integra LifeSciences
- NuVasive, Inc.
- Stryker
- Wright Medical Group N.V.
- Xtant Medical
- Zimmer Biomet
- Baxter Healthcare Corporation
- Medtronic plc
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More Valuable Insights on Bone Grafts and Substitutes Market
- By Product:
- Allografts
- Demineralized Bone Matrix (DBM)
- Others
- Synthetic Bone Grafts
- Others
- Allografts
- By Material:
- Ceramic-based Bone Grafts and Substitutes
- Calcium Phosphate
- Calcium Sulfate
- Others
- Polymer-based Bone Grafts and Substitutes
- Polylactides
- Polyglycolides
- Polyurethanes
- Others
- Growth Factor-based Bone Grafts and Substitutes
- Cell-based Bone Grafts and Substitutes
- Others
- Ceramic-based Bone Grafts and Substitutes
- By End User:
- Hospitals
- Orthopedic Clinics
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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