Bone Grafts And Substitutes Industry Overview
The global bone grafts and substitutes market size was valued at USD 2.91 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.
One of the key factors fueling the growth of the market is the rising incidence of bone and joint disorders. According to the CDC report, the global incidence rate of hip fracture is expected to rise by 240% in women and 310% in men. Osteoporosis is estimated to affect around 200 million women worldwide. Moreover, the rising demand for dental bone grafts is expected to drive the market for bone grafts and substitutes over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Bone Grafts And Substitutes Market
Bone grafts are widely adopted for orthopedic surgeries. These surgeries are classified as elective surgeries and most of the elective surgeries were postponed or canceled during the COVID-19 pandemic. This resulted in drastically decreasing demand for devices required for orthopedic surgeries, including bone graft and substitutes. Furthermore, extended factory closures by market players in various nations slowed down the production of the devices. However, since the last quarter of 2020, the infection rate is expected to decline, which will slowly restore the production cycles, hence increasing the production of bone grafts and substitutes.
Additionally, many countries have started to ease their lockdown by lifting certain restrictions related to healthcare facilities. This is expected to boost the demand for orthopedic surgeries, hence restoring the growth of the market. The launch of biocompatible synthetic grafts is also expected to fuel the growth of the market. Market players are investing in the development of such grafts to gain a stronger foothold. For instance, in October 2019, McGill University developed a biocompatible and toughened multilayered bone graft for the treatment of large bone defects, which was anticipated to provide a competitive edge over other players in the market.
Moreover, rising requirements for dental bone grafts and technological advancements are boosting the market growth. Minim Invasive Surg in 2018, stated that minimally invasive procedures are being adopted for the treatment of a varied range of bone disorders in the year. It also stated that about 400,000 spinal fusion cases were done in the U.S. annually. Such factors are likely to positively impact the market growth in the years to come. Moreover, increasing demand for developing biocompatible bone grafts to reduce adverse reactions is fueling market growth. Various players in the industry are continuously making investments for the development of new products with better bioactivity, biocompatibility, and suitable mechanical properties.
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Bone Grafts And Substitutes Market Segmentation
Grand View Research has segmented the global bone grafts and substitutes market report on the basis of material type, application, and region:
- Bone Grafts And Substitutes Material Type Outlook (Revenue, USD Million, 2017 - 2030)
- Demineralized Bone Matrix
- Bi-phasic Calcium Phosphates (BCP)
- Bone Morphogenic Proteins (BMP)
- Bone Grafts And Substitutes Application Outlook (Revenue, USD Million, 2017 - 2030)
- Foot Ankle
- Joint Reconstruction
- Long Bone
- Spinal Fusion
- Bone Grafts And Substitutes Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Market Share Insights
- February 2021: NuVasive acquired Simplify Medical to enhance its cervical portfolio and extend growth opportunities.
- April 2021: Azienda Ospedaliero-Universitaria Consorziale Policlinico in Italy finished a concentrate on Platelet Rich Plasma (PRP) Injections for knee osteoarthritis in grown-ups matured between 40 to 81 years.
Key Companies profiled:
Some of the prominent players in the bone grafts and substitutes market include:
- DePuySynthes, Inc.
- Nuvasive, Inc.
- Smith Nephew
- Orthofix Holdings, Inc.
- TBF Tissue Engineering
- OST Devloppement
- Zimmer Biomet
- Wright Medical Group N.V.
- GeistlichPharma AG
- Stryker Corporation
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