Bone Grafts and Substitutes Market is set to grow at an exponential rate by the year 2025. Bone grafts are been increasingly used in oncologic revision prosthetic surgery, traumatology, bone regeneration, and spine surgery. Orthopedics over several years have used bone grafts and substitutes for assisting bone repair surgeries.
“Technological developments and trends such as stem cell and tissue engineering have demonstrated a huge potential for augmenting the prevailing performance of bone grafts. Alternatively, tissue engineering has made it possible to culture cells identical to the ones found in bone marrow.”
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The key driving factors responsible for the growth of Bone Grafts and Substitutes market :
The market is majorly driven by the rising number of geriatric population all over the world. Ongoing technological advancements in the medical field has led to a significant shift from the use of autograft to allograft techniques. In addition, the growing cases of chronic lifestyle diseases like obesity and diabetes are estimated to further boost the market expansion.
In terms of bone graft and substitute type, the market has been segmented into allograft, demineralized bone matrix, bone morphogenic proteins or BMP, cell-based matrices, machined allograft, bone graft substitute, and synthetic bone grafts. By application, spinal fusion, joint reconstruction, dental bone grafting, trauma, and craniomaxillofacial are the primary classification of the market.
Based on end-user industry, the global bone grafts & substitutes market has been categorized into orthopedic clinics, hospitals, and others. Allograft bone is generally collected from either nonliving donors or living donors (i.e. patients undergone whole hip replacement surgery) and must be administered for surgery within a bone tissue bank. The considerable rise in the number of bone tissue banks is driving the market for allograft substitute type industry.
In order to study the span of this industry, the global market has been geographically segmented into the five key regions of North America, Europe, the Asia Pacific, the Middle East, and Africa, and Latin America. The rise in disposable income and improving healthcare infrastructure is driving the bone draft and substitutes industry growth across the developing regions of Asia Pacific and Latin America. North America and Europe hold the largest market share attributed to the penetration of major players in these regions.
The competitive landscape of bone grafts and substitutes market encompasses an array of highly acclaimed contenders like Arthrex, Inc., Integra Life Sciences Holdings Corporation, Johnson & Johnson (DePuy Synthes), Musculoskeletal Transplant Foundation, Stryker Corporation, Wright Medical Group N.V., Baxter International Inc., Medtronic Plc., NuVasive, Inc., and Zimmer Biomet Holdings, Inc. among others. The altering market dynamics can be attributed to major merger and acquisition activities, collaborations and joint ventures amongst the industry competitors.
The emerging companies have identified raw material suppliers, buyers, research investors and distributors of the bone grafts and substitutes industry. The competitors are profiling their business expansion strategies by incorporating merger & acquisition, collaborations, and joint ventures with the fellow contenders.
Over the past few years, considerable improvements have been made in order to realize significant implications for the future management of bone loss. Future developments have been projected to be focused on material composition for the delivery of BMPs, which has determined increased incorporation of stem cell technology. The ideal bone graft will have similar osteoinductive, osteoconductive and osteogenic characteristics as an autogenous bone. Considering the changing competitive dynamics and the current scenario of the industry, it has set the bone grafts & substitutes market to grow at an exponential rate during the forecast years.
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