Bone Grafts and Substitutes Market revenue worth US$ 3,912 Mn by 2025
Pune, Maharashtra, India, February 18 2021 (Wiredrelease) Allied Analytics –:UPDATE AVAILABLE ON-DEMAND
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.
According to a new report published by Allied Market Research, titled, Bone Grafts and Substitutes Market, by Type (Allograft, Bone Graft Substitutes, and Cell-based Matrices) and Application (Spinal Fusion, Trauma, Craniomaxillofacial, Joint Reconstruction, and Dental Bone Grafting) – Global Opportunity Analysis and Industry Forecast, 2018-2025.
The 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.
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Cell based matrices (CBM) is projected to grow at the highest CAGR of 6.1% from 2018 to 2025, as these materials serve as a cell-based bone grafts substitutes that use cells to generate tissue alone or in combination with support matrix. In addition, the advantages offered by CBM such as reproducibility and cost-effectiveness have fueled the market growth.
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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Key Findings of the Bone Grafts and Substitutes Market:
Bone graft substitutes segment dominated the overall market with a share of more than half of the overall market in 2017, and is expected to continue to lead the during the forecast period.
Asia-Pacific is expected to witness highest market growth rate, with a CAGR of 7.3% from 2018-2025
U.S. accounted for more than half of the overall market in 2017, whereas South Korea is expected to register the highest CAGR of 9.7%.
North America held the dominant position in the global market in 2017, and is expected to maintain its lead throughout the analysis period. This is attributed to rise in incidence of spinal fusion & joint reconstruction procedures, sedentary lifestyle contributing to joint disorders in the geriatric & younger population, and favorable reimbursement rates in the region.
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, 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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