According to a recent study report published by the Market Research Future analysts, the Global Bone Graft Substitutes Market is growing at a moderate pace; mainly due to increase in the number of bone grafting procedures, high ageing population with demand for high quality musculoskeletal function in old age, and increasing penetration of orthopaedic speciality hospitals and healthcare insurance. That being said, there are few obstacles as well in this market. Risks involved in the global bone grafting procedures, and high costs of the bone graft treatments which may affect the growth of this market.
There are several trends in this market which have the potential to change the therapeutic approach and the treatment landscape in the bone graft substitute market.
The recent technological trend is to replace these natural materials with alloplastic bone grafts such as ceramics and polymers as they can be manufactured to the precise size and characteristics. Recombinant DNA technology is being pressed into use to mix synthetic materials with growth factors to enhance grafts and stem cell-based auto grafts. The greater use of biotechnology is expected to increase the characteristics of synthetic bone graft such as osteoconduction, osteoinduction and osteogenesis etc.
Considering all these factors, the global market of bone graft substitute is expected to reach $ 5,031.0 Million by the end of 2027, this market is projected to grow at a CAGR of ~ 6.52 % during the forecast period 2017-2027.
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3D bio printing is expected to be one of the disruptive technology which will enable manufacture of custom-fit bone graft substitute products. By using 3D printing bone grafts can be produced at any location and even in any volume cost-effectively which provides for advantages such as demand flexibility, personalized bone graft substitute production etc. At last, the use of nanotechnology, which allows for reduction in material volume to manufacture the bone graft substitute products which results in saving on costs. However, nanotechnology is in its infant stage and may require further experimentation.
Global Bone Graft Substitutes Market – Key Players
The global market consist of players such as Medtronic Plc, Stryker Corporation, Zimmer Biomet, Dentsply Sirona, Institut Straumann AG, Dentium Co. Ltd, and DePuy Synthes are some of the prominent players at the forefront of competition in the global bone graft substitutes market and are profiled in MRFR Analysis report.
Global Bone Graft Substitutes Market – Competitive Analysis
The global bone graft substitute market is well established market with large number of products available in the market. There are large number of companies involved in the development of the bone graft substitutes which are now widely used all across the world for the restorative and reconstructive surgical procedures.
As there is a transition happening in the use of the types of bone grafts for the various restorative & reconstructive procedures, the world is adopting the new technologies leading to the massive growth in the market. There are great opportunities in the bone graft substitute market in the near future as there has been great development in the synthetic bone graft substitute segment. Considering the scenario, the existing big companies have optimized their focus and the force in order to cope with the market. Many new companies have jumped into the market in order to make the most of the opportunities. Companies are implementing the strategies of mergers and acquisitions with other players.
For example the Stryker Corporation, in order to enhance its business, acquired companies such as Novadaq Technologies Inc. in 2017, Stanmore Implants Worldwide Limited, Physio-Control International Inc, & Vertebral compression fracture portfolio from BD in 2016; and some other companies in the recent past.
Stryker Corporation has a significant product portfolio in the bone grafts substitutes including the products like Vitoss, HydroSet, and Cortoss etc. Strykar Corporation accounted significant market share in bone graft substitute market in 2016. The company has wide geographic presence and also the strong sales & distribution network which has helped the company gain its position in the market.
Global Bone graft Substutes Market – Regional Analysis
Americas commanded the market with the largest market share in 2016 and Americas is expected to continue to be the largest market for the bone graft substitutes during the forecasted period 2017 to 2027. European market is not far behind and is slowly catching up with the American market. Due to advances in the orthopaedic sciences and development of the dental industry in the Europe, the bone grafts substitutes business has grown significantly in the region. Asia Pacific region is accepting the changing trend of the bone grafting and it is expected to be the fastest growing region in the bone graft substitute market during the forecasted period 2017 to 2027.
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