Bone Graft And Substitutes Market Projected To Raise At USD 4.3 Billion By 2028

 San Francisco, 3 March 2021: The Report Bone Graft And Substitutes Market Size, Share & Trends Analysis Report By Material Type (Allograft, Synthetic), By Application (Craniomaxillofacial, Dental, Foot & Ankle), By Region, And Segment Forecasts, 2021 - 2028

The global bone graft and substitutes market size is expected to reach USD 4.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2021 to 2028. The synthetic segment is anticipated to show significant growth over the forecast period. This growth is due to the lesser risk of disease transmission, better acceptance among patients as compared to allografts, and products’ better biocompatibility. However, the demand for orthopedic devices, which include bone graft and substitutes observed a radical decrease because of the rescheduling of elective surgeries during COVID-19.

Growing cases of spinal deformities are the key driver of this market. According to a CDC report, approximately 60.0% of the aged population and 32.0% of the adult population is suffering from spinal deformities, in the U.S., as of 2017. Around 488,000 spinal procedures were performed in the U.S. Moreover, the introduction of biocompatible synthetic grafts is also expected to drive the market.

Additionally, technological advancements and the growing geriatric population are also boosting the market growth. According to Population Reference Bureau’s 2018 statistics, from 13 countries to around 82 countries across the globe are expected to have more than 20% of the geriatric population (65 years and above) by 2050. Thus, perpetual growth in the population aged 60 years and above is anticipated to result in an increased prevalence of arthritis and joint disorders.

The market in various countries is expected to witness diverse trends because of ethical issues in some of the Muslim and Jewish population dominated countries. These countries include majorly the Middle Eastern countries, which are apprehensive about using xenografts for their orthopedic surgeries. Such factors hamper market growth drastically.

Key players in the market are investing in the launch of new products and product approvals for sustaining in the market. For instance, AlloSource stated that ProChondrix CR would have 2 years of shelf life based on the results of real-time testing, as of March 2019. ProChondrix CR helps in cartilage healing and is intended to match biochemical and biomechanical properties of normal hyaline cartilage, improve patient symptoms, and restore a smooth articular cartilage surface.

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Bone Graft And Substitutes Market Report Highlights

• The allograft segment dominated the market in terms of revenue share as of 2020 and is projected to witness a CAGR of over 4.8% from 2021 to 2028. Adoption of allografts is rising due to their characteristics such as osteoconductivity and immediate structural support.
• North America held a major market share as of 2020, due to the growing awareness related to the commercially available advanced products, higher healthcare expenditure of 16.4% in 2018, and accessibility of a well-developed healthcare structure
• The synthetic segment which includes ceramics, composites, polymers, and BMPs is expected to exhibit the fastest growth over the forecast period owing to its increasing adoption
• The spinal fusion segment held a considerable revenue share of about 60.5% in the market in 2020 owing to the rising geriatric population
• In North America, the U.S. is generating the maximum demand for bone grafts and substitutes because of the high prevalence of trauma-related injuries and orthopedic diseases
• The industry participants are focusing on product launch, partnership, and acquisitions to sustain the competition
• In Asia Pacific, the market is anticipated to witness lucrative growth of more than 7.5% owing to the rising medical tourism and favorable government initiatives

List of Key Players of Bone Graft & Substitutes Market

• AlloSource
• Baxter
• DePuy Synthes, Inc.
• Medtronic
• Nuvasive, Inc.
• Orthofix Holdings, Inc.
• Smith & Nephew, Inc.
• Stryker Corporation
• Wright Medical Group N.V.
• OST Devloppement
• Zimmer Biomet
• Geistlich Pharma AG
• TBF Tissue Engineering
• Biobank

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