Global Bone Graft Substitutes Market Positive Growth and Forecasts by 2023
Added: (Thu Jan 24 2019)
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As per Market Research Future (MRFR)’s latest analysis, the global bone graft substitutes market is estimated to strike a CAGR of 6.52% over the forecast period 2017 to 2027. Autografts have been used for years to treat bone disorders. It is one of the extensively used surgical procedures for bone grafting. However, the pain associated with the surgery has led to the innovation of alternatives such as allografts, xenografts, etc. This, in turn, is projected to catalyze the expansion of the bone graft substitutes market in the forthcoming years.
The rising geriatric population has catapulted the orthopedic industry on an upward trajectory. It is likely to fuel demand for bone graft substitutes over the assessment period. Additionally, the growing demand for bone grafts from the dental care industry is expected to boost the proliferation of the market across the next couple of years.
The factors that are responsible for dictating the growth trajectory of the bone graft substitutes market during the projection period are high demand in military medical units, increasing orthopedic problems, rising need for reconstructive orthopedic treatments, etc. However, there are certain restraints in the market, which include the risk of disease transmission in allografts and xenograft, improper fixation and weak bonding, and risk of graft rejection.
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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.
Key Players for Global Bone Graft Substitutes Market
Market Research Future (MRFR) recognizes the following companies as the key players in Bone Graft Substitutes Market: There are plenty of large and small market players which operate in this market all over the globe.
Some of the key players profiled in the report are Stryker Corporation, ACE Surgical Supply Company, Inc., Dentium Co., Ltd., Dentsply Sirona, Institut Straumann AG, BioHorizons IPH, Inc., Medtronic plc, and Zimmer Biomet.
Segments for Global Bone Graft Substitutes Market
Based on type, the global bone graft substitutes market has been segmented into autograft, demineralized bone matrix, synthetic bone grafts, bone morphogenetic protein, and others.
Based on application, the bone graft substitutes market has been segmented into spinal fusion, joint reconstruction, long bone, dental, foot & ankle, and others.
Regional Analysis for Global Bone Graft Substitutes Market
The global bone graft substitutes market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. Americas is the largest market for bone graft substitutes. The consolidation of major manufacturers in the region coupled with the swift uptake of novel technologies is likely to drive the growth of the bone graft substitutes market in the region. The U.S. is a significant country-level market of the region and is expected to contribute largely towards the development of the regional bone graft substitutes market in the forthcoming years.
Europe held the second-largest share of the global market and is poised to retain its potential through the assessment period. The factors that are contributing towards the growth of the market in Europe include rising awareness about bone graft substitutes, increasing healthcare expenditure, availability of funds for research & development, etc.
Asia Pacific is the fastest growing bone graft substitutes market and has been estimated to mark a CAGR of 6.85% during the forecast period. The developments in the fast-developing country-level markets such as India and China are inducing growth in the regional market. It is expected to exhibit a similar trend throughout the projection period.
The Middle East & Africa is set to witness steady growth over the next couple of years. Gulf nations, particularly, Saudi Arabia and the U.A.E. are primarily responsible for driving the growth of the bone graft substitutes market in the region.
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