The latest market report published by Acute Market Reports “Bone Grafts and Substitutes Market - Growth, Future Prospects, Competitive Analysis, 2021 - 2029,” the global bone grafts and substitutes market was valued at US$ 2,972.7 Mn in 2020, and is expected to reach US$ 4,758.0 Mn by 2029 expanding at a CAGR of 5.72 % from 2021 to 2029.
Browse the full report Bone Grafts and Substitutes Market - Growth, Future Prospects, Competitive Analysis, 2021 – 2029 report at https://www.acutemarketreports.com/report/bone-grafts-and-substitutes-market
Market Insights
According to the findings of United Nations, the prevalence of osteoarthritis is increasing due to aging population, osteoporosis and obesity; it is estimated by 2050 people aged above 60 years will account for 20% of the total world population with one third of this population suffering with osteoarthritis and osteoporosis. Conventional bone grafting has been used for decades but also is found incompetent in accelerating healing, reducing the time of weight bearing, and significant morbidity from the harvest site. Significant technological advancement in the synthetic bone grafts such as calcium phosphate cements, coralline hydroxyapatite has accelerated bone formation as its interconnected porous structure closely resembles the porosity of human cancellous bone will propel the market penetration for bone grafts and substitutes.
At present, allografts hold the largest market share due to key drivers such as rising prevalence of osteoporosis, sports injuries and it is cost effective procedure as it reduces the hospital stay. Additionally it is a quick surgical procedure and less anesthesia time is required. Bone graft substitutes show a promising sales forecast and will be the fastest growing market majorly due to factors such as rapid wound healing due to inherent features of bone substitutes such as negative surface charge, increased protein fusion, enhanced cell attachment and favorable natural remodeling and graft resorption.
Spinal fusion currently dominates the application segment due to factors such as rising prevalence of low spine disc herniation, burst fractures, osteoporosis etc. and increasing number of patients suffering with cauda equine syndrome are preferring spinal fusion surgeries to release pressure on many spinal nerves which causes paralysis in lower extremities. Dental surgeries are anticipated to be the fastest growing market majorly due to factors such as rising prevalence of periodontal disease, car accidents resulting dental trauma resulting in loss of teeth and gum causing deformation in outward cosmetic appearance and dental bone grafting is also employed to maintain bone structure after tooth extraction and improved oral health.
In the current scenario, North America dominates the regional markets and the growth is mainly attributed to the presence of key drivers such as rising prevalence of osteoporosis and periodontal diseases in the elderly population, existence of developed healthcare facilities and presence of major players engaged in the manufacture and sale of bone grafts and substitutes. Asia Pacific promises a lucrative market with promising sales forecast chiefly due to factors that are anticipated to propel the market growth in Asia Pacific are the rising prevalence of traumatic injuries due to accidents, violence etc., flourishing e-commerce industry to promote sales and supportive regulatory environment for bone grafts and substitutes.
The bone grafts and substitutes market is technologically driven and includes major players such as AlloSource, Baxter Healthcare Corporation, DePuy Synthes, Medtronic plc, NuVasive, Inc., Orthofix Holdings, Inc., Orthovita, Inc., Stryker Corporation, Smith & Nephew, Inc. and Wright Medical Group N.V.
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