Rise in preference for biocompatible bone grafts are the key factors that contribute toward the growth of the bone grafts & substitutes market
PUNE, MAHARASHTRA, UNITED STATES, December 4, 2020 /EINPresswire.com/ — 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.
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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.
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.
The report segments the global bone grafts and substitutes market by type, application, and geography. Based on the type, the report categorizes the market into allograft, bone graft substitutes, and cell-based matrices. An increase in the prevalence of bone and joint disorders have garnered the bone graft substitutes segment to generate maximum revenue in 2016. The segment is expected to dominate the global market through 2025, owing to advancements in bone graft materials and the development of innovative products. However, cell-based matrices (CBM) segment is expected to grow at the highest rate, a CAGR of 6.1%, during the forecast period, as these materials serve as a cell-based bone grafts substitutes that use cells to generate tissue alone or in combination with support matrix.
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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%.
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.
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.
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The key players profiled in this report include:
Baxter International Inc.
Integra LifeSciences Holdings Corporation
Johnson & Johnson (DePuy Synthes)
Musculoskeletal Transplant Foundation
Wright Medical Group N.V.
Zimmer Biomet Holdings, Inc.
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Source: EIN Presswire