Bone Grafts and Substitutes Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3,397 million by 2022, registering a CAGR of 4.1% during the period 2016 – 2022. Bone graft substitutes segment dominated the overall market with a share of more than half of the overall market in 2015, and will continue to lead the market during the forecast period.
Increase in musculoskeletal conditions, advancements in medical technology leading to a shift from autograft to the allograft, increased preference for biocompatible bone grafts are key factors that contribute to the growth of the market worldwide. In addition, increase in cases of lifestyle disorders such as diabetes and obesity add to the risk of developing degenerative joint diseases that further fuel the growth of the market. The major restraints of this market are ethical issues related to bone grafting and high cost of surgeries.
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Cell-based matrices (CBM) is projected to be the fastest-growing segment, with a CAGR of 5.5% from 2016 to 2022, 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 exclusive features of CBM such as reproducibility, and cost-effectiveness have fueled the market growth.
Spinal fusion accounted for the major chunk of the total market in 2015 as bone grafts and its substitutes are widely used in the spine fusion procedures worldwide; while the joint reconstruction segment is poised to grow at the highest CAGR of 5.4% during the forecast period primarily due to growth in incidences of bone and joint disorders
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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.
Key Findings of Bone Grafts and Substitutes Market:
- Bone graft substitutes segment accounted for more than half of the total market in 2015, while cell-based matrices segment is expected to grow at highest CAGR of 5.5% from 2016 to 2022
- Asia-Pacific is expected to witness highest market growth rate, with a CAGR of 6.4% driven by growth in population, increase in affordability, and improvement in healthcare facilities in the region.
- U.S. was the leading country market and accounted for more than half of the total market in 2015.
- South Korea is expected to be the fastest growing country growing at a CAGR of 8.5%.
- Joint reconstruction segment is poised to grow at the highest CAGR of 5.4% during the forecast period
North America held the leading position in the global market in 2015, and is expected to maintain its lead throughout the analysis period. This is primarily due to the rise in incidences of spinal fusion and joint reconstruction procedures, sedentary lifestyle contributing to joint disorders in the geriatric and younger population, and favorable reimbursement rates in the region.
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Major players that operate in this market include Medtronic plc, Stryker Corporation, DePuy Synthes, Integra Lifesciences Holdings Corporation, Wright Medical Group N.V., Zimmer Biomet Holdings, Inc., Xtant Medical Holdings, Inc. (Bacterin), Arthrex, Inc., Baxter International Inc., and Musculoskeletal Transplant Foundation (MTF).