Bone Graft Substitute Market Analysis
The global bone graft substitutes market is predicted to touch USD 5031.0 million at a 6.52% CAGR over the forecast period (2014-2027), states the new Market Research Future (MRFR) report. Bone graft substitutes are utilized in different applications such as posttraumatic skeletal conditions, bone replacement, and other forms of bone-related issues. Bone or bone-like materials are used that may be from a man-made source, a donor, or the patient. Often bone grafts are used for filling the empty space which has occurred between or in the bones of the spine due to deformity, injury, disease or surgical procedures, especially spinal fusion.
Various factors are propelling the bone graft substitutes market growth. These factors, according to the latest MRFR report, include increasing prevalence of musculoskeletal disorders, technological advancements in the medical industry resulting to a shift to allograft from autograft, availability of biocompatible synthetic bone grafts, and rise in demand for dental bone grafts. Additional factors pushing market growth include the development of innovative products, advancements in bone graft materials, the rapid increase in geriatric population, growing incidences of orthopedic disorders, improving healthcare infrastructure, demand for minimally invasive procedures, and increase in disposable income.
On the flip side, immune response and risk of disease transmission, stringent regulatory pathway, and ethical problems related to bone harvesting, are factors that may deter the bone graft substitutes market growth over the forecast period.
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Bone Graft Substitute Market Segmentation
The MRFR report provides a complete segmental analysis of the bone graft substitutes market report on the basis of type and application.
Based on type, the bone graft substitutes market is segmented into bone morphogenetic protein, synthetic bone grafts, demineralized bone matrix, autograft, and others.
Based on application, the bone graft substitutes market is segmented into foot and ankle, dental, long bone, joint reconstruction, spinal fusion, and others. Of these, the spinal fusion segment will have the largest share in the market over the forecast period followed by the joint reconstruction segment that is predicted to grow at the highest CAGR.
Bone Graft Substitute Market Regional Analysis
By region, the bone graft substitutes market report covers the latest trends and growth opportunities across Europe, North America, the Asia Pacific, and the Middle East and Africa. Of these, North America will dominate the market over the forecast period. Factors aiding growth in the region include the presence of several key players in the region and advancements in technology in the healthcare sector. The US is the key contributor in the region.
The bone graft substitutes market in Europe will have the second-largest share in the market over the forecast period. Factors aiding growth in the region include rising healthcare expenditure and growing awareness regarding bone graft substitutes. It is predicted to grow at a 6.76% CAGR.
The bone graft substitutes market in the APAC region is predicted to grow at the fastest pace over the forecast period. It is predicted to grow at a 6.85% CAGR. China, as well as India, are the key contributors in this region.
The bone graft substitutes market in the MEA is predicted to have a steady growth over the forecast period owing to constant developments in the healthcare industry in Gulf nations. On the flip side, the poor socio-economic conditions in the African regions is likely to impede the market growth.
Bone Graft Substitute Market Key Players
Leading players profiled in the bone graft substitutes market report include Institut Straumann AG, Zimmer Biomet, Stryker Corporation, Medtronic plc, Dentsply Sirona, BioHorizons IPH, Inc., Dentium Co., Ltd., and ACE Surgical Supply Company, Inc., among others. Various strategies have been incorporated by key players to suffice the growing needs of customers and also create a niche in the market. These strategies include research and development activities, joint ventures/partnerships, product development and new product launches, mergers and acquisitions, and collaborations.
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Bone Graft Substitute Industry Analysis
September 2019: A new bone graft substitute from Biogennix has recently received an FDA clearance. This product called Morpheus-C has been designed for addressing the demand of surgeons for collagen-enhanced products.