Bone grafts have been used for bone regeneration, structure restoration, and pain relief for decades. Conventionally, autografts were used for bone grafting, wherein patient’s own bone was used as a graft. Autologous bone grafts are considered a gold standard for bone transplant. However, usage of autologous bone grafts involves the risk of infection transfer; surgical procedures at both tissue harvesting and transplant sites which result in delayed wound healing and prolonged hospital stay. Hence, allografts were introduced in the market to overcome the disadvantages associated with autologous grafts. Allografts possess both osteoinductive and osteoconductive properties, and hence serve as a substitute for autografts. Ready availability of allografts in various shapes and sizes that can be processed in various forms such as chips and others as per requirement is likely to be one of the major factors fueling the growth of the allografts segment during the forecast period from 2015 to 2023. The allografts segment has been sub-segmented into demineralized bone matrix (DBM) and others. DBM is one of the most commonly utilized biomaterial with fewer side effects. There are a wide range of commercially available DBM products in the market. Moreover, continuous efforts to improve the mode of application of DBM is expected to boost the growth of the segment. Bone graft substitutes is the fastest growing segment of the global bone grafts and substitutes market. The bone graft substitutes segment comprises synthetic bone grafts, bone morphogenetic proteins (BMP), and others. Growth of the BMP segment is primarily driven by advantages over allograft tissues, which present a potential risk of disease transmission, morbidity, and availability issues. However, biocompatibility issues and high cost are some of the factors that restrain the growth of the BMP segment. Stryker Corporation and Medtronic plc dominate the BMP and other synthetic bone grafts segments.
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Bone grafts and substitutes are used in various application areas such as spinal fusion, foot and ankle, long bone, dental, joint reconstruction, and craniomaxillofacial procedures. Allografts are majorly used for the treatment of joint reconstruction, spinal, trauma, craniomaxillofacial, and dental procedures. Synthetic bone grafts are majorly used in long bone and spinal fusion procedures. The spinal fusion application segment dominated the global bone grafts and substitutes market in 2014 due to rising geriatric population and increasing global demand for minimally invasive surgeries. For instance, according to the American Academy of Orthopaedic Surgeons (AAOS), about 465,000 spinal surgeries were performed in the U.S. in 2011. Of all the spinal fusion surgeries performed, 46% were for lumbar fusion, 41% were for cervical fusion, and the remaining 13% were for thoracic or multi-level fusion procedures. Thus, rising incidence of spinal injuries is likely to drive the segment during the forecast period. On the other hand, rising preference for stem cell therapy and other growth factors such as platelet derived factors could hamper market growth during the forecast period.
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North America accounted for the largest share of the global bone grafts and substitutes market in 2014, followed by Europe. The BGS market in North America is expected to witness a growth rate of 3.5% during the forecast period from 2015 to 2023. Factors such as strict compliance to governmental regulations, continuous technological advancements, and increased focus on patient safety and patient care have been attributed to the dominance of North America. In addition, rise in the number of road accidents and increasing awareness among people about various types of bone grafts and substitutes are the other factors propelling the growth of the market. The bone grafts and substitutes market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period from 2015 to 2023, followed by Latin America, due to evolving countries in terms of manufacturing capacity, technological development, and booming medical tourism industry in this region.
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Key players operating in the global bone grafts and substitutes market include AlloSource, Medtronic plc, Stryker Corporation, Baxter International, DePuy Synthes, Nuvasive, Inc., Wright Medical Group, Zimmer, Inc., and Orthofix Holdings, Inc.
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