Bone Graft Substitutes Market is estimated to be 4.19 billion by 2030 with a CAGR of 4.1% during the forecasted period.

 



Bone grafting is a surgical procedure which involves healing of broken bones i.e. fractures by replacement material. This surgical technique is been done to treat extremely complex bone defects and possess significant health risk to patients. The global bone graft substitutes market accounted for US$ 2.78 billion in 2020 and is estimated to be 4.19 billion by 2030 and is anticipated to register a CAGR of 4.1%.

Rising target population, growing number spinal fusion surgeries, and adoption of allografts are key growth factors for this market

bone graft substitutes market accounted for US$ 2.78 billion in 2020 and is estimated to be 4.19 billion by 2030 and is anticipated to register a CAGR of 4.1%. The report. "Global Bone Graft Substitutes Market, By Type (Allograft (Machined Allograft and Demineralized Bone Matrix), Bone Graft Substitute (Bone Morphogenic Proteins (BMP) and Synthetic Bone Grafts), and Cell-based Matrices), By Application (Spinal Fusion, Trauma, Joint Reconstruction, Dental Bone Grafting, and Craniomaxillofacial), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key highlights:

·         In In October 2019, Medtronic Plc gained “Breakthrough Device designation” from U.S.FDA for its product Valiant TAAA Stent Graft System which is projected to expand the company’s footprint in the industry.

·         In February 2019, Medtronic plc developed Grafton DBM in Japan, which was the first-ever DBM in this country. This launch is projected to enhance the company’s regional penetration.

·         In April 2018, Medtronic plc received U.S. FDA approval for Infuse Bone Graft for spine surgeries. This approval is anticipated to expand the company’s penetration in spine surgery.

Analyst View:

Bone grafts and substitutes are orthopedic surgeries extensively utilized in for various applications. Increasing cases of orthopedic problems caused due to weakened bones are expected to drive the demand for the target market. As per the data published by Department of Economic and Social Affairs, United Nations, Population Division, in 2013 the number of people aged above 60 was 841 million and is estimated to reach 2 billion in 2050. Hence, the number of orthopedic surgeries is projected to increasing with rising geriatric population prone to orthopedic ailments. Thus, the market is expected to register significant demand in the coming years.

Growing adoption of minimally invasive surgeries (MIS) is also rising the demand for bone graft substitutes market. Specialists are opting for MIS instead of open surgery due to associated benefits such as reduced post-operative duration, minimal pain, and less injury to the tissue. According to Minim Invasive Surg in 2018, around 400,000 spinal fusion cases are implemented in the U.S. per year and it ranks one of the most frequently performed and well-established treatment options for degenerative disorders, spine trauma, tumors, and structural abnormalities.

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Key Market Insights from the report:        

The global bone graft substitutes market accounted for US$ 2.78 billion in 2020 and is estimated to be 4.19 billion by 2030 and is anticipated to register a CAGR of 4.1%. The market report has been segmented on the basis of type, application, and region.

·         By type, allograft accounted the highest revenue share as of 2018, owing to rapidly increasing adoption of allografts over autografts due to properties such as osteoconductivity and immediate structural support. Additionally, allografts results in rapid wound healing and reduced surgery time.

·         By application, Spinal fusion estimates to the highest revenue share. Spinal fusion is utilized to treat defects in small bones (vertebrae) in the spine. As per European Spine Journal in 2016, De novo degenerative lumbar scoliosis (DNDLS) is a spinal deformity in the elderly population that results to spine trauma and disc degeneration, LBP /leg pain and disability, etc.

·         By region, North America forecast highest revenue share in 2018, owing to higher healthcare expenditure, growing awareness regarding the commercially available products, and presence of advanced healthcare infrastructure. Asia Pacific region is projected to register lucrative growth in the coming years.

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Bone-Graft-Substitutes-Market-4298

Competitive Landscape:

The prominent player operating in the global bone graft substitutes market includes Arthrex, Inc., Baxter International Inc., Johnson & Johnson (DePuy Synthes), Medtronic Plc., Integra LifeSciences Holdings Corporation, Musculoskeletal Transplant Foundation, Stryker Corporation, Wright Medical Group N.V., NuVasive, Inc., and Zimmer Biomet Holdings, Inc.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

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