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Global Bone Graft Substitute Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 4.1 Bn by 2028, Likely to Grow with the CAGR of 5.1% During the Forecast Period.
The global Bone Graft Substitute technology is expected to witness rapid growth during the period of the research study. Some of the factors fuelling the growth of the global market include the number of spinal fusion cases, growing demand for bone graft substitutes in orthopaedic surgeries, and the rising popularity of allografts across the globe.
Wide Range of Applications Is Driving the Demand for Bone Graft Substitute Across The Globe
Bone grafts are used in surgical processes in replacement of defected or missing bones with these materials. Bone grafts can be implanted in the process of osseous reconstruction, bone healing, and bone formation owing to their beneficial properties such as osteoinductive, osteogenic, and osteoconductive. The bone graft substitutes have applications in multiple sectors including spinal surgery, sports, facial, fracture treatment, wound healing, and trauma plastic which encourage the manufacturers to develop advanced products to cater the rising demand from the large consumer base. These factors are promoting the growth of the global bone graft substitute market.
The Synthetic Segment Held a Key Share in Global Bone Graft Substitute Market in 2019
On the basis of product type, the synthetic segment is estimated to grow rapidly in the coming years. The synthetic products offer benefits over allografts such as the lesser chance of disease transmission among patients and better biocompatibility. Among all the synthetic types, the ceramic synthetic segment led the global market since the last few years. The patient’s body can easily reabsorb these materials and has lesser risk of infection transmission. Moreover, ceramic materials offer several benefits such as controlled blood loss, lesser pain, and shorter surgery duration which results in increased demand from the large consumer base.
Furthermore, the demand for allografts is also increasing rapidly owing to its osteoconductivity and immediate structural support. Additionally, it doesn’t need any other bone surgery to harvest the bone which leads to rapid healing and less surgery duration. This makes it the most commonly used method in several areas including knee, hip, and spine.
Spinal Fusion Segment held Key share in Global Bone Graft Substitutes market in 2019
The bone graft substitute has major applications in spinal fusion, craniomaxillofacial, long bone, dental, joint reconstruction, and foot. Among these, the spinal fusion segment accounted for the largest market share which made it the leading segment. The rising number of geriatric patients and widening reimbursement facilities support the growth of the segment.
Moreover, the dental segment is at its booming stage and it is expected to witness lucrative growth during the forecast period. The rising popularity and increasing success rates of dental implant cases are expected to accelerate the growth of bone graft substitutes in dental applications. According to research conducted by the American Dental Association in the U.S., more than 5 million dental implant cases are being registered every year.
North America Is Anticipated To Exhibit Rapid Growth During The Forecast Period
By geography, North America registered the highest share in the global market. The dominance of North America can be accredited to the growing healthcare industry, huge investment on the advancement of healthcare infrastructure, and rising prevalence regarding commercially available products. The U.S. is the largest shareholder in North America. The rising number of trauma injuries and orthopedic diseases is resulting in an increasing demand for bone graft substitutes in the region.
Furthermore, Asia Pacific is expected to grow rapidly during the forecast period. This is mainly due to supportive government initiatives and the popularity of medical tourism across the region. However, the stringent government regulations regarding the production of bone graft substitutes might hamper the growth of the region. For instance, in Australia, the product needs to be approved by the Therapeutic Goods Administration (TGA) following their quality parameters. In South Korea, the manufacturers need to take approval from KFDA (Korean Food and Drug Administration) before distribution.
In December 2019, Advanced Medical Solutions Group plc (AMS) announced the acquisition of Biomatlante, a leading company specialized in a R&D pipeline and wide range of surgical products. The acquisition was aimed at expanding the AMS portfolio and strengthen their market foothold. As a part of this agreement the Biomatlante’s founder Dr. Guy Daculsi will provide regulatory support and ongoing R&D to AMS.
In August 2018, Baxter announced to receive clearance from FDA for their new addition in bone graft substitute portfolio. The product was commercialized under the brand name Actifuse Flow.
Some of the major players operating in global bone graft substitute market include Stryker Corp., DePuy Synthes, AlloSource, Inc., Medtronic PLC, Wright Medical Group N.V., Orthofix Holdings, Inc., and Nuvasive, Inc.
Global Bone Graft Substitute Market by Product Type
- Bone Morphogenetic Proteins (BMP)
- Demineralized Bone Matrix
Global Bone Graft Substitute Market by Application
- Spinal Fusion
- Long Bone
- Joint Reconstruction
- Foot and Ankle
Global Bone Graft Substitute Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America