ID: MRFR/MED/0689-CR | February 2021 | Region: Global | 129 pages
As per the analysis conducted by Market Research Future (MRFR), the Bone Grafts and Substitutes Market is anticipated to acquire a market value of USD 5,013.0 Million while thriving at a CAGR of 6.52% by 2027.
Bone grafting is a surgical procedure used to operate severely complicated bone fractures. Bone grafts are implantable materials used during a medical process to aid in bone formation, bone healing, and osseous reconstruction.
Global Market for bone graft substitutes has been impacted due to the pandemic, leading to a short-term negative growth due to the temporary shutdown of clinics. The limited access to clinics and the lockdown imposed in various parts of the world have brought a negative impact on the bone substitutes market.
Rising Incidences of Bones & Joint Disorders to Boost the Market Growth during the Projection Period
The growing cases of disorders related to bones & joints are recognized to be a significant factor that can strengthen the market growth during the evaluation period. The increasing adoption of dental bone grafts and on-going technological development is anticipated to boost the market expansion. The growing demand for high-quality musculoskeletal function among the geriatric population is expected to fuel the market significantly in the coming period.
Introduction of Biocompatible Synthetic Bone Grafts to Offer Significant Opportunities for Market Growth during the Forecast Period
The introduction of biocompatible synthetic bone grafts and the on-going technical development in the same are expected to offer various opportunities for market expansion in the coming period. In addition, the increasing focus of key players towards R&D activities are likely to provide multiple opportunities to market growth during the forecast period.
High Costs Associated with the Surgery to Hamper the Market Growth during the Review Period
The expenses associated with the surgery are likely to act as an obstruction in the market growth during the forecast period.
Complications from the Bone Grafting Procedure to Hinder the Market during the Review Period
The risks and complications associated with bone grafting procedures are expected to pose a significant challenge to the market in the coming period.
The segmental analysis of the global market for bone graft substitute is done by type and application.
The type-based segments of the global market for bone graft substitutes are bone morphogenetic protein, demineralized bone matrix, and autograft, synthetic bone grafts. Among all, the autograft segment is likely to lead the industry during the review timeframe.
The application-based segments of the global market for bone graft substitutes are joint reconstruction, dental, spinal fusion, long bone, foot & ankle.
Based on the region, the market for Bone-Graft Substitutes Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
North America to Lead the Global Market during the Forecast Period
North America is projected to dominate the global market for bone graft substitutes market during the forecast period owing to the presence of advanced healthcare infrastructure. The market is estimated to grow at a CAGR of 6.1% by 2027. The increasing awareness about the available products and the growing health expenditure are other salient causes that are projected to steer the regional trade during the evaluation period. Among all, the US is anticipated to generate the maximum revenue owing to the growing product demand and the surging cases of orthopedic ailments, thereby augmenting the regional bone graft market size.
Europe to Witness Significant Growth in the Review Period
Europe is anticipated to grow in the assessment period. The on-going development in the orthopedic sciences is projected to be a salient cause that can drive the regional market in the coming period. The growing awareness about bone graft substitutes and surging healthcare expenses are likely to fuel the growth rate of Europe to 6.7% during the review timeframe. Countries such as; the UK and Germany are expected to make significant contributions in developing the regional market that can benefit the industry
APAC to be the Fastest-Growing Market during the Forecast Period
APAC is estimated to expand at a CAGR of 6.85% during the review period owing to the presence of evolving economies such as India, China, and Japan. The regional growth can be attributed to the increasing tourism and favorable initiatives taken by the government of various countries. In addition, the growing geriatric population with increasing expenditure on healthcare expenses are anticipated to fuel the market growth during the review timeframe. On the other hand, stringent regulatory guidelines restrict the adoption in a few nations, which can hamper the market growth during the forecast period.
MEA to Witness a Steady Growth during the Assessment Period
MEA is anticipated to grow considerably during the review period owing to the increasing initiatives taken by the Middle East countries to develop their healthcare infrastructure. Middle East countries such as the UAE, Kuwait are anticipated to make a salient contribution in strengthening the regional market owing to their economic stability. However, the African region is expected to obstruct the expansion of the regional market due to poor economic conditions.
The key players of the market are adopting various new strategies to expand their market, which is anticipated to intensify the market. The growing demand for high-quality healthcare services is expected to encourage the players to incorporate innovation in their products that can grow the competitiveness among the players.
December 2020- Zimmer Biomet, a leading medical device manufacturer, based out of the US and New York City-based Hospital for Special Surgery, have announced a partnership to deploy a remote care management platform for the Apple Watch.
The latest report published by MRFR on the global market for bone graft substitute is an overview of essential details like applications, key manufacturing methods, and the factors actuating and restricting the global market. Based on these details, the market has been divided into several segments, which defines the maximum market sharing during the forecast period. The market predictions have been protracted with a thorough evaluation of the significant competitive partners and the regional players who have an essential role in expanding the market. The other necessary details of the market have also been highlighted, which provides a detailed insight into the market.
Bone Graft Substitute, By Type
Bone Graft Substitute, By Application
|Market Size||USD 5,013.0 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ACE Surgical Supply Company, Inc. (US), BioHorizons (US), Dentium (South Korea), Dentsply Sirona (US), Institut Straumann AG (Switzerland), Medtronic (Ireland), Stryker (US), Zimmer Biomet (US)|
|Key Market Opportunities||Introduction of Biocompatible Synthetic Bone Grafts to Offer Significant Opportunities for Market Growth|
|Key Market Drivers||Rising Incidences of Bones & Joint Disorders to Boost the Market Growth during the Projection Period|
Frequently Asked Questions (FAQ) :
The global bone graft substitute market is predicted to touch USD 5,031.0 million by 2027.
The bone graft substitute market is predicted to grow at a 6.52% CAGR between 2014-2027.
The Americas is projected to spearhead the bone graft substitute market during the forecast period.
Key competitors in the bone graft substitute market include Zimmer Biomet (US), Stryker (US), Medtronic (Ireland), Institut Straumann AG (Switzerland), Dentsply Sirona (US), Dentium (South Korea), BioHorizons (US), and ACE Surgical Supply Company, Inc. (US).
High treatment cost and complications & risks may limit market growth.