Bone Grafts & Substitutes Market Size to Reach $3.91 Million by 2025
Pune, Maharashtra, India, February 11 2021 (Wiredrelease) Allied Analytics –:Allied Market Research recently published a report, titled, The global bone grafts and substitutes market was valued at $2,690 million in 2017, and is expected to reach $3,912 million by 2025, registering a CAGR of 4.8% during the forecast period. Bone grafts are implantable materials that promote bone healing, bone formation, and osseous reconstruction.
The use of bone grafts and substitutes reduces the need to harvest autograft bones from patients, which in turn reduces postoperative pain and healing time. Increased use of bone graft substitutes facilitates minimally invasive surgeries and short surgical procedures. Although these procedures were initially used for spinal fusion and rectification of deformities, the adoption of these procedures has increased for various applications, including extremity reconstruction and treatment of fractures.
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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.
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Get detailed COVID-19 impact analysis on the Bone Grafts And Substitutes Market
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.
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).
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Key market players
The leading companies in the global bone grafts and substitutes market include Medtronic plc, DePuySynthes, 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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