Bone grafts are implantable materials that promote bone formation, bone healing, osseous reconstruction and others. Market Research Future (MRFR) has recently availed a report asserting that the global bone graft substitute market is anticipated to reach USD 5,031 Mn by the end of 2027 at a steady CAGR of 6.52% during the forecast period (2017-2027).
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Market Drivers and Restraints:
The global bone graft substitute market is majorly driven by the rapid development of synthetic biocompatible bone grafts, the rise in orthopedic procedures performed on the elderly population, increasing incidences of bone and joint disorders and a substantial increase in the acceptance rate of technologically advanced medical treatments across the globe. The wide application of bone graft substitutes in trauma, sports, facial, plastic, spinal and cosmetic surgeries is aiding the expansion of the global bone graft substitute market.
The rising prevalence of periodontal diseases and increasing incidences of dental injuries are propelling the expansion of the global bone graft substitute market in the dental industry. Increasing focus of the leading players in the global market towards research and development for launching higher quality bone graft substitutes is fueling the expansion of the global bone graft substitutes market. The upsurge in demand for orthopedic procedures performed on geriatric population is providing lucrative opportunities for the expansion of the global bone graft substitute market. The shift towards allografts from autografts is likely to drive the expansion of the bone graft substitute market, globally. The increasing awareness regarding the benefits of bone generation through biologics is inducing demand for bone graft substitutes in the global market.
However, lack of awareness among the underprivileged group of developing regions, ethical issues related to the bone grafting procedure, the risk of graft rejection and other complications, and the high cost of surgeries are likely to hinder the global bone graft substitutes market during the forecast period.
Global Bone Graft Substitutes Market: Segmental Analysis
The global bone graft substitutes market has been segmented on the basis of type and application. Based on types, the bone graft substitute market has been segmented into autograft, demineralized bone matrix, synthetic bone grafts, bone morphogenetic protein, and others.
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Based on application, the bone graft substitute market has been segmented into spinal fusion, joint reconstruction, long bone, dental, foot and ankle and others. Among these, significant growth has been projected by the spinal fusion segment due to rise in incidences of bone injuries, increasing demand for minimally invasive surgeries, increasing cases of arthritis surgeries and others.
Global Bone Graft Substitutes Market: Regional Analysis
The global bone grafts substitute market is segmented into four major regions such as Americas, Europe, Asia-Pacific and the Middle East and Africa. Among these regions, the Americas accounted for the largest market share in the global bone graft substitute market in 2016 due to the increasing expenditure on health care, extensive use of medications, rapid adoption of advanced technology and presence of well-developed healthcare infrastructure in this region.
The increasing awareness regarding bone graft substitutes and rise in disposable income are driving the market in the Europe region. The bone graft substitutes market in Asia-Pacific is anticipated to showcase significant growth during the forecast period due to the burgeoning medical tourism in countries such as China, Malaysia, Thailand, India and Singapore and implementation of strict regulatory framework by the manufacturers in this region. The bone graft substitute market in the Middle East region is driven by the increased penetration of leading players due to increased demand for treatment of arthritis disorder.
Global Bone Graft Substitutes Market: Competitive Analysis
The increasing investment by the players of global bone graft substitute market in research and development for new product launch is majorly triggering competition in the global bone graft substitute market. On 7th of March, 2018,Stryker Corporation’s spine division has received FDA clearance for 3D-printed Tritanium TL cage which is an intervertebral body fusion device that is used with autograft and allogenic bone graft and is applicable in case of spinal fusion surgery.
The prominent players of the global bone graft substitute market are ACE Surgical Supply Company, Inc., BioHorizons IPH, Inc., Dentium Co., Ltd., Dentsply Sirona, Institut Straumann AG, Medtronic plc, Stryker Corporation, Zimmer Biomet and others.
Major TOC of Bone Graft Substitute Market Research Report- Global Forecast till 2027:
1 Report Prologue
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Bone Graft Substitute Market, By Type
7 Global Bone Graft Substitute Market, By Application
8 Global Bone Graft Substitute Market, By Region
9 Competitive Landscape
10 Company Profiles
12 Key Findings
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