Allied Market Research recently published a research report on “The global Bone Grafts And Substitutes Market was pegged at $2.65 billion in 2020 and is estimated to hit $3.36 billion by 2028, registering a CAGR of 4.3% from 2021 to 2028” in its research database.
Rise in incidences of musculoskeletal conditions, technological advancements in medical devices, and development of biocompatible synthetic bone grafts fuel the growth of the global bone grafts and substitutes market. On the other hand, high cost of surgeries and ethical issues related with bone grafting procedures impede the growth to some extent. However, emerging market opportunities are expected to be beneficial for the market.
Fast advancement of novel bone unions materials, for example, biocompatible engineered bone unites and ascend in pervasiveness of bone and joint issues are the main considerations driving the development of the worldwide bone joins and substitutes market. Also, flood in the quantity of patients experiencing rheumatoid joint pain, osteoarthritis, and other joint issues have enhanced the market development. Notwithstanding, significant expense of medical procedures and a few moral issues related with bone uniting techniques have hampered the market improvement. In actuality, expanding tendency of key market players toward Research and development exercises and flood popular for muscular methodology among geriatric populace would give worthwhile open doors to the market chiefs before long.
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The COVID-19 outbreak has disrupted and forced several industries to halt their activities temporarily, including several subdomains of health care. Similarly, the bone graft & substitutes industry was impacted negatively. Major key players in the market were facing supply chain interruptions and the demand of the products was reduced significantly. Throughout 2020, hospitals and clinics experienced a noteworthy decline in surgical procedural volumes worldwide as healthcare systems redirected their resources to meet the rise in requirements of the COVID-19 patients.
Public health bodies across the world have suggested rescheduling or suspending elective surgeries throughout the pandemic phase. In addition, several orthopedic elective procedures, including spine, hip replacement, and knee replacement were halted. On the contrary, surgeons, patients, and medical societies are continuously assessing the risks of elective surgeries in the existence of infectious diseases, which is anticipated to have a positive impact on the demand for bone grafts & substitutes products and the number of procedures performed in the near future.
- The outbreak of COVID-19 has made the key players in the industry face issues in regards to the availability of human resources for manufacturing bone grafts & substitutes at production facilities, which in turn has impacted the market negatively.
- However, government bodies in several countries have come up with relaxed norms and the market is anticipated to revive soon.
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Leading market players
- Baxter International Inc
- Musculoskeletal Transplant Foundation
- Integra LifeSciences Holdings Corporation
- Johnson & Johnson (DePuy Synthes)
- Medtronic Plc.
- Zimmer Biomet Holdings, Inc.
- Arthrex, Inc.
- NuVasive, Inc.
- Stryker Corporation
- Xtant Medical Holdings
The global bone grafts and substitutes market is analyzed across type, application, and region. Based on type, the bone graft substitutes segment accounted for more than half of the total market share in 2020 and is expected to lead the trail by the end of 2028. The cell based matrices segment, on the other hand, would project the fastest CAGR of 5.1% from 2021 to 2028.
Based on application, the spinal fusion segment contributed to nearly half of the total market revenue in 2020 and is anticipated to rule the roost by 2028. Simultaneously, the joint reconstruction segment would cite the fastest CAGR of 5.5% from 2021 to 2028.
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|Market Outlook for 2028||USD $3.36 billion|
|Market Size 2020 Value||USD $2.65 billion|
|Expected CAGR Growth||4.3% from 2020 – 2028|
|Forecast Year||2021 – 2028|
|Top Market Players||Baxter International Inc., Musculoskeletal Transplant Foundation, Integra LifeSciences Holdings Corporation, Johnson & Johnson (DePuy Synthes), Medtronic Plc., Zimmer Biomet Holdings, Inc., Arthrex, Inc., NuVasive, Inc., Stryker Corporation, and Xtant Medical Holdings.|
|Segments Covered||By Product, By Procedure, By Application, By End-Use, By Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America; Middle East & Africa|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
Also Read Press Release: Bone Grafts and Substitutes Market Expected to Reach 3.36 Billion by 2028
Allied Market Research has segmented the Bone Grafts and Substitutes Market report on the basis of procedure, application, end-user, and region:
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By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Market Report
- What is the Bone Grafts and Substitutes Market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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