MarketResearchFuture.com added new report of “Bone Graft Substitute Market” it contains Company information, geographical Segmentation, in-depth Table of Content, List of figures, data tables, Various Company Leaders & market synopsis up to 2027
Bone Graft Substitute Market – Scenario
According to a new report by Market Research Future (MRFR), the global market for bone graft substitute is projected to expand at 6.52 % CAGR during the assessment period (2017-2027). The market is anticipated to reach USD 5,031.0 million by the end of 2027 owing to the growing orthopedic problems. Bone grafting is a surgical procedure which is carried out to fix bone injury or fractured bones. The procedure for bone grafting comprises transplantation of the bone tissue to regenerate and augment bones which are lost due to injury or disease.
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Drivers and Constraints Impacting the Market Growth:
With the emerging trends, use of xenografts, allografts, and synthetic bone grafts is increasing. These innovative products are acting as a substitute for real bones which has resulted in the market growth over the assessment period.
Moreover, the growing geriatric population, growing use of bone grafting procedure in fixation of broken or damaged bones, growing demand for bone graft substitutes in medical military units, and need for reconstructive orthopedic treatment is anticipated to stimulate the market growth in the coming years. Also, usage of bone graft substitutes in dentistry along with technological developments from leading market players with latest and innovative bone graft products is likely to spur the market growth over the review period.
Synthetic materials which are used to manufacture bone graft substitutes hinder osteoinduction, osteoconduction, and osteogenesis. For instance, hydroxyapatite is devoid of biological and organic agents. Thus, technological development in the form of recombinant DNA technology is utilized to eliminate such drawbacks by mixing these materials with growth factors, so that stem cell and graft-based autografts are enhanced. Moreover, the greater use of biotechnology is predicted to increase the characteristics of synthetic bone grafts like osteoinduction, osteoconduction, and osteogenesis.
However, patient safety owing to the risk of transmission of disease in xenograft and allografts, weak bonding and improper fixation, risk of graft rejection, and unmet medical needs might inhibit the market growth in the coming years. Additionally, strict mandates and high cost associated with advanced products are limiting the market growth. Also, ethical issues related to bone harvesting are inhibiting the market growth in a few regions over the review period.
Bone Graft Substitute Market – Competitive Analysis:
Dentium Co. Ltd.
Institut Straumann AG
ACE Surgical Supply Company and others.
Global Bone Graft Substitute Market – Segmentation:
The global market for bone graft substitute has been segmented based on application, type, and region.
By mode of type, the global market for bone graft substitute has been segmented into bone morphogenetic protein, synthetic bone grafts, demineralized bone matrix, autograft, and others. Among these, the autograft segment holds the largest market share with 35.6 %.
By mode of application, the global market for bone graft substitute has been segmented into dental, long bone, joint reconstruction, foot & ankle, spinal fusion, and others. Among these, the segment for spinal fusion accounts for the largest share in terms of revenue. The growing geriatric is more prone to degeneration of disc and spondylolisthesis. Also, growing number of trauma cases caused due to sports injuries and road accidents are driving the market growth.
America Accounts for the Largest Share:
Geographically, the market for bone graft substitute spans across America, Europe, Asia Pacific, and Middle East and Africa.
America accounts for the largest market share owing to increasing expenditure on healthcare and extensive use of medications in this region. High adoption of latest technologies and innovative devices in the US also stimulates the market growth. Moreover, concentration of major medical devices manufacturers is also spurring the market growth in this region over the assessment period.
Owing to the increasing awareness regarding bone graft substitutes and high disposable income, the European region is predicted to hold the second largest market share. Countries such as Germany, UK, Spain, Italy, and France are offering ample opportunities for the manufacturers.
On the other hand, Asia Pacific is anticipated to showcase a rapid growth and is estimated that India and China will lead the market in this region. The expanding medical tourism in India, Thailand, China, Malaysia, and Singapore is predicted to offer profitable growth avenues for major market players in this region.
Meanwhile, the Middle East and African market is estimated to witness a moderate growth rate due to poor political and economic conditions along with poor healthcare penetration in this region.
FDA has granted Wright Medical Group N.V. premarket approval for its Augment Injectable Bone Graft which comprises a recombinant human platelet-derived growth factor. The injectable version has the same clinical indications as that of the original bone graft.
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