Bone Grafts and Substitutes Market 2020 Report: Growth Rate by Application, Manufacturers and Forecast – 2026
Pune, Maharashtra, India, September 18 2020 (Wiredrelease) Allied Analytics –:Bone Grafts and Substitutes Market was valued at $2,690 million in 2017, and is expected to reach $3,912 million by 2025, growing at a CAGR of 4.8% from 2018 to 2025.
Bone grafts are implantable materials that promote bone healing, bone formation, and osseous reconstruction.
Increase in incidence of musculoskeletal conditions, advancements in medical technology leading to a shift from autograft to allograft, rise in preference for biocompatible bone grafts are the key factors that contribute toward the growth of the global bone grafts and substitutes market. In addition, increase in cases of lifestyle disorders such as diabetes and obesity add to the risk of developing degenerative joint diseases that further fuels the growth of the market. However, the major restraints of this market are ethical issues related to bone grafting and high cost of surgeries.
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Rapid development of novel bone grafts materials such as biocompatible synthetic bone grafts and rise in prevalence of bone and joint disorders are the major factors driving the growth of the global bone grafts and substitutes market. Moreover, surge in the number of patients suffering from rheumatoid arthritis, osteoarthritis, and other joint disorders have supplemented the market growth. However, high cost of surgeries and several ethical issues associated with bone grafting procedures have hampered the market development. On the contrary, increasing inclination of key market players toward R&D activities and surge in demand for orthopedic procedures among geriatric population would provide lucrative opportunities for the market leaders in the coming years.
Cost-effectiveness of cell-based matrices to accelerate the market growth
The cell-based matrices segment would grow at the fastest CAGR of 6.1% through 2025, as they offer better reproducibility, and cost-effectiveness compared to the other product types available in the market. However, the bone grafts substitutes segment would dominate the market through 2025, capturing more than half of the total market revenue during the study period. In addition, the allografts segment would show gradual growth during the forecast period.
Major applications of bone grafts and substitutes
The report offers an in-depth analysis of the various applications of bone grafts and substitutes, including spinal fusion, trauma, joint reconstruction, dental bone grafting, and craniomaxillofacial. The spinal fusion segment dominated the global bone grafts and substitutes market in 2017 and is expected to hold the largest share in the global market through 2025, contributing about 45%. However, the joint reconstruction segment would witness the fastest CAGR of 6.2% through 2025, owing to rise in demand for joint reconstruction among patients suffering from rheumatoid arthritis, osteoarthritis, and other joint disorders.
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Asia-Pacific to be fastest-growing, North America to generate highest revenue
In 2017, the North America region garnered $1.61 billion, contributing more than half of the market share, owing to favorable reimbursement rates and rise in the incidence of orthopedic disorders. However, Asia-Pacific would manifest the fastest CAGR of 7.3% during the study period. The other regions analyzed in the report are Europe and Latin America, Middle East and Africa (LAMEA).
Key market players
The leading companies in the global bone grafts and substitutes market include Medtronic plc, DePuy Synthes, Wright Medical Group N.V., Xtant Medical Holdings, Inc. (Bacterin), Baxter International Inc., Stryker Corporation, Integra Lifesciences Holdings Corporation, Zimmer Biomet Holdings, Inc., Arthrex, Inc., and Musculoskeletal Transplant Foundation (MTF).
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