Bone Graft Substitute Market Size to Hit USD 2121.66 Million by 2030 at 6.80% CAGR – Report by Market Research Future (MRFR)

New York, USA, Feb. 13, 2023 (GLOBE NEWSWIRE) — Bone Graft Substitute Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR), “Bone Graft Substitute Market Information by Product Type, By Application, and Region —Forecast till 2030, the market is projected to reach USD 2,121.66 million by 2030 at 6.80% CAGR during the forecast period 2022-2030.

Market Scope:

The medical process of bone grafting is performed to treat broken bones. Bone grafts are materials that can be implanted surgically to aid in bone healing, bone growth, or osseous reconstruction. Bone substitutes are utilized in place of either autogenous or allogeneic bone for reconstructing a broken or missing bone.

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Report Scope:

Bone Graft Substitute Market Competitive Outlook:

To maintain a competitive edge, the industry’s major players are devoting significant resources to R&D. Additionally, they increase their market position and acquire a sizable customer base through the implementation of strategic growth strategies like expansion, product launches, joint ventures, and partnerships. The major market players are:

• Medtronic
• AlloSource
• Zimmer Biomet Holdings Inc
• Stryker
• Smith & Nephew
• Johnson & Johnson Services Inc
• Baxter International Inc
• Integra Lifesciences Holdings Corporation
• Orthofix Holdings Inc
• Geistlich Pharma
• SeaSpine

Bone Graft Substitute Market Dynamics:

Market Drivers

Key drivers driving market expansion include the development of biocompatible synthetic bone grafts, rising demand for dental bone transplant procedures, and rising rates of traffic injuries and joint disorders. The rising prevalence of bone illnesses such as bone infections and bone malignancies, as well as the rising prevalence of orthopedic procedures, are driving the global bone grafts and substitutes market. In addition, the increasing need for synthetic replacements and the rising number of product approvals by various agencies are anticipated to drive market expansion over the projection period.

In the forecast period, the bone graft substitute market is expected to be driven by the growing popularity of synthetic alternatives such as polymer and ceramic. Increased acceptance of synthetic alternatives is fueling market expansion because of the many advantages they offer, including lower risks of damage to the donor site and fewer difficulties.

Calcium phosphate, hydroxyapatite, and beta-tricalcium phosphate are only a few examples of the synthetic materials that can be used as alternatives. Developed countries increasingly choose these goods because of their chemical similarity to human bone.

Market Restraints

High surgical expenses, dangers connected with bone graft procedures, and complications are all issues that are slowing the growth of the market for bone graft alternatives. Lack of bone development or partial bone formation, unfavorable tissue reaction, and infection of the bone and soft tissue are just some of the growing list of clinical difficulties associated with the substitutes. As a result, this element is anticipated to restrain market expansion over the projected timeline.

Because of these constraints and rising hazards, the producers and the U.S. FDA have decided to issue a recall. These recalls are likely to reduce the use of alternatives, which will hurt the companies’ reputations as brands.

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COVID-19 Analysis

Market growth will be temporarily impacted by the COVID-19 pandemic, but the market as a whole will be relatively unaffected by the pandemic because of the high demand for orthopedic operations, such as bone graft substitution devices. It’s worth noting that many countries have begun lifting lockdowns and other measures linked to COVID-19, allowing orthopedic treatments to be performed again.

Since governments around the world began to loosen restrictions after the COVID-19 outbreak, economic activity have resumed. As borders loosen, businesses are free to establish bases in new areas.

Bone Graft Substitute Market Segmentation

By Product Type

When it comes to bone graft substitutes, the market is dominated by allografts. Allografts are transplants from a donor rather than the patient themselves. Bone is often obtained from a bone bank and comes primarily from cadavers whose bone has been donated for the benefit of living patients. Improved patient outcomes from the use of allograft products are another factor in the segment’s expansion. The expansion of the allograft category will be driven in the coming years by the efforts of current market participants to diversify their product offerings in this area.

By Application

The market for spinal fusion procedures is expected to expand at a rapid rate. It’s important to keep in mind that bone grafts aren’t what actually fuse the spine or alleviate pain there. In contrast, the bone grafting procedure provides the conditions necessary for a solid bridge to form. Bone grafting provides structural support for the spine while also allowing the body to heal the damaged area of the spine and fuse the bones together. The rising incidence of spinal disorders is expected to fuel demand in the market. Segmental expansion is also anticipated as a result of the development of alternatives to common spinal fusion procedures, such as transforaminal lumbar interbody fusion and anterior lumbar interbody fusion, by key market participants.

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Bone Graft Substitute Market Regional Analysis

It is predicted that the North American Market would expand significantly over the assessment period. The growing adoption of synthetic replacements in developed countries is likely to drive the market expansion in North America. In addition, the presence of a sizable patient pool impacted by bone injuries, in addition to the increasing number of orthopedic procedures in the region, is anticipated to drive market growth.

The market for bone graft substitutes was largely concentrated in Europe. Europe is becoming a major market because of its growing awareness of bone graft replacements and its increasing healthcare expenditures. In the future years, the global market will benefit from the region’s substantial development potential. The expansion of the regional market is likely to be significantly aided by countries like the United Kingdom and Germany.

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Market researchers anticipate the Asia-Pacific region will lead global expansion of bone graft substitutes. Players in the bone graft substitute market can expect attractive prospects in the area due to the presence of expanding economies like India, China, and South Korea and the increasing potential patient population. As the baby boomer generation continues to age and as healthcare costs continue to rise, it is expected that the market will continue to increase throughout the assessment period. As a result of investments in R&D, the bone graft market in Asia and the Pacific is booming.

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