Bone Graft and Substitutes Market Growth With Healthy CAGR of 5.5% to reach US$ 4.7 Billion till 2027 | Coherent Market Insights
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The Global Bone Graft and Substitutes Market, by Product Type (Bone Grafts (Allografts and Xenografts) and Bone Graft Substitutes (Ceramics, Composites, Polymers, Demineralized Bone Matrix, Bone Morphogenetic Proteins, and Others)), By Application (Spinal Fusion, Dental Bone Grafts, Craniomaxillofacial, Joint Reconstruction, Trauma & Extremities, and Oncology), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 3,046.7 million in 2019, and is expected to exhibit a CAGR of 5.5%, during the forecast period (2019-2027).
The increasing focus of manufacturers on the development and launch of innovative bone grafts and substitutes is expected to drive growth of the global bone graft and substitutes market during the forecast period. For instance, in February, 2018, Collagen Matrix, Inc. entered India market with the launch of OssiMend bone graft matrix in India for spinal applications, with the approval from the Central Drugs Standard Control Organization and Medical Device & Diagnostic Division of the Government of India.
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The increasing number of regulatory approvals for a wide range of bone grafts and bone graft substitutes is expected to drive growth of the market during the forecast period. For instance, in April 2018, Medtronic Plc. received the approval from the U.S. Food and Drug Administration (FDA) to market two smaller kit sizes of INFUSE Bone Graft for usage in certain spinal fusion and dental regenerative procedures. This approval helped the company to enhance its product portfolio. Moreover, in September, 2018, Baxter International Inc. received the U.S. Food and Drug Administration (FDA) clearance for ALTAPORE Bioactive Bone Graft, a next-generation bioactive and osteoconductive bone graft substitute, for using it as an autograft extender in posterolateral spinal fusion. Moreover, medical cases such as trauma and fractures including dislocations and life threatening musculoskeletal injuries can be treated with various types of bone grafts available in the market. Thus the increasing number of medical cases is expected to drive the global bone graft and substitutes market growth during the forecast period. For instance, trauma is a leading cause of death and disability in the U.S., according to the Centers for Disease Control and Prevention (CDC) 2014 report, for children and adults below age 45. Moreover, in the U.S. trauma accounts for around 79,000 deaths annually, in comparison to 15,000 infectious disease and 49,000 non-communicable disease deaths.
Browse 38 Market Data Tables and 33 Figures spread through 287 Pages and in-depth TOC on “Global Bone Graft and Substitutes Market, by Product Type (Bone Grafts (Allografts and Xenografts) and Bone Graft Substitutes (Ceramics, Composites, Polymers, Demineralized Bone Matrix, Bone Morphogenetic Proteins, and Others)), By Application (Spinal Fusion, Dental Bone Grafts, Craniomaxillofacial, Joint Reconstruction, Trauma & Extremities, and Oncology), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027”
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Key takeaways of the Global Bone Graft and Substitutes Market:
- The global bone graft and substitutes market is expected to exhibit a CAGR of 5.5% during the forecast period (2019–2027) owing to initiatives taken by key players to develop prominent bone graft and its substitutes.
- Product launches by key players for expanding their portfolio of bone grafts is expected to drive the global bone graft and substitutes market growth. For instance, in May 2017, NovaBone Product, LLC launched two additional bone graft substitutes- NovaBone IRM and NovaBone IRM MacroPOR, that are designed for orthopedic application such as ontogenesis. Both products are expected to help in stimulation of osteoblastic activity and offer angiogenic potential.
- Major players operating in the global bone graft and substitutes market include Ace Surgical Supply Co., Inc., NovaBone Product, LLC., Exactech, Inc., Medtronic Plc., LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation., BioHorizons Implant Systems, Inc., Globus Medical, Inc., RTI Surgical, Inc., Geistlich Pharma, Megagen, Novadip Biosciences, Mesoblast Ltd., Alphatec Spine, Inc., Institut Straumann AG, NuVasive, Inc., OsteoMed LLC, KYERON Medical Innovations, ORTHOFIX INTERNATIONAL N.V., Johnson & Johnson, Bone Therapeutics SA, K2M Group Holdings, Inc., and OsteoNovus.
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