The report states that the global Bone Grafts And Substitutes Market generated $2,690 million in 2017 and is projected to attain $3,912 million by 2025, growing at a CAGR of 4.8% during the forecast period, 2018-2025.
The use of bone grafts and substitutes reduces the need to harvest autograft bones from patients, which in turn reduces postoperative pain and healing time. Increased use of bone graft substitutes facilitates minimally invasive surgeries and short surgical procedures. Although these procedures were initially used for spinal fusion and rectification of deformities, the adoption of these procedures has increased for various applications, including extremity reconstruction and treatment of fractures.
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The development of biocompatible synthetic bone grafts and a shift from autograft to the allograft, owing to rapid technological advancement, have increased the demand for bone grafts and substitutes worldwide. Similarly, the surge in occurrences of musculoskeletal conditions and an increased risk of degenerative joint diseases due to obesity and diabetes drive the growth of the global market. However, astronomical cost of surgeries along with ethical issues related to bone grafting procedures impede market growth.
The report segments the global bone grafts and substitutes market by type, application, and geography. Based on the type, the report categorizes the market into allograft, bone graft substitutes, and cell-based matrices. An increase in the prevalence of bone and joint disorders have garnered the bone graft substitutes segment to generate maximum revenue in 2016. The segment is expected to dominate the global market through 2025, owing to advancements in bone graft materials and the development of innovative products. However, cell-based matrices (CBM) segment is expected to grow at the highest rate, a CAGR of 6.1%, during the forecast period, as these materials serve as a cell-based bone grafts substitutes that use cells to generate tissue alone or in combination with support matrix.
Based on application, the market is sub-segmented into spinal fusion, trauma, joint reconstruction, dental bone grafting, and craniomaxillofacial. Spinal fusion accounted for the major share of the total market in 2016, as bone grafts and their substitutes are widely used in the spine fusion procedures worldwide. However, the joint reconstruction segment is projected to grow at the fastest rate during the forecast period, registering a CAGR of 6.2%, due to an upsurge in incidences of bone and joint disorders.
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North America held the dominant position in the global market in 2016 and is expected to maintain its lead throughout 2025. This is attributed to a rise in incidences of spinal fusion & joint reconstruction procedures, sedentary lifestyle contributing to joint disorders in the geriatric & younger population, and favorable reimbursement rates in the region. Meanwhile, Asia-Pacific is anticipated to witness the highest market growth rate, with a CAGR of 7.3% from 2018-2025.
The report also profiles key players involved in the global bone grafts and substitutes market, such as Arthrex, Inc., Baxter International Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson (DePuy Synthes), Medtronic Plc., Musculoskeletal Transplant Foundation, NuVasive, Inc., Stryker Corporation, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc. They have adopted various strategies such as mergers & acquisitions, collaborations, partnerships, and others to gain a strong position in the industry.
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