Bone Graft And Substitute Market

The global bone graft and substitute market refers to the market of the products that are used by the orthopedic surgeons that help fixing bones damaged from trauma, or joints problem. The bone grafts product also useful in growing bone around an implanted device and even fill a void where bone is absent or in providing structural stability. The bone graft and substitute products find application in spinal fusion, long bone, foot and ankle, craniomaxillofacial, joint reconstruction and dental surgeries. The evolution of biomaterials such as ceramic and polymer biomaterials, technologies such as use of 3D printing and stem cells have substantially given a boost to the global bone graft and substitute market. The Bone grafts and substitute market is depicted to grow at a CAGR of 4.7% during the forecast period 2022-2030.

North America Dominates the Global Bonegraft and Substitute Market

North America leads the bone graft and substitute market by capturing largest market share of over 38.5% in 2021. North American bone graft and substitute market is anticipated to grow at a CAGR of 4.8% during the forecast period. The bone graft and substitute market in North America is driven primarily due to high healthcare and research and development expenditure in the US and Canada. According to Centers for Medicare & Medicaid Services (US) the healthcare expenditure is projected to increase to 20% of the GDP by 2025. Such high healthcare expenditure coupled with demand for quality healthcare affirms the adoption of new and novel healthcare ailments positively supplementing growth in the bone-graft and substitute market. Further, the presence of the companies such as Medtronic (US), Depuy synthesis ltd (US), Stryker Corporation (US) and others that actively captured a large market share in the global bone graft and substitute market which also influences the growth of bone graft and substitute in North America.

Spinal Fusions to lead the application segment

Spinal fusion in application of bone leads the bone graft and substitute market by capturing largest market share of over 33.6% in 2021. Spinal fusion application market is anticipated to grow at a CAGR of 4.8% during the forecast period. The spinal fusion market is primarily driven by high adoption of bone-graft and substitute products in the spinal fusion surgery.

Allograft dominates the global BONE GRAFT AND SUBSTITUTE MARKET

Allograft in type segment leads the bone graft and substitute market by capturing largest market share of over 68.3% in 2016 with an estimated revenue of approximately $1747 million. Allograft market is anticipated to grow at a CAGR of 4.4% during the forecast period and is anticipated to reach $2365 million by 2023. Allograft refers to a process where bone is taken from human cadavers, processed sterilely while transplanted to the recipient. According to our analysis, allograft bone grafting techniques has second highest adoption in orthopedic surgeries after autologous surgeries. The allograft market is primarily driven by rising availability of allografts that can be processed as per the requirement. For instance, according to the musculoskeletal transplant foundation biologics organization report 2017 in the United States, doctors use more than a million allografts to treat athletes who require knee reconstruction every year.

Asia pacific region to exhibit highest CAGR

Asia pacific bone graft and substitute market is projected to grow at the highest CAGR of 5.3% during the forecast period of 2023-2030 and is anticipated to reach $817 million by 2023. Asia Pacific region captured over 22% market share in terms of revenue in the global bone graft and substitute market in 2016 with an estimated revenue of approximately $568 million. Increasing healthcare expenditure, government initiatives aiding healthcare investments, growing geriatric population, rising volume of orthopedic surgeries and demand for quality healthcare treatment are the primary drivers of bone graft and substitute market in Asia Pacific. Asia Pacific region accounts for over 55% of the world’s total population in 2016 according to WHO. The percentage of population in Asia Pacific is bound to reach 60% of the world’s total population by 2025. Further, according to US census bureau, Asia Pacific accounts for 55% of world’s population with age 65 years and above which is projected to increase to 62% by 2050. With increasing population probability of orthopedic ailments is bound to increase aiding growth in market for bone graft and substitute market for the forecasted period. Moreover, healthcare expenditure across Asia Pacific is anticipated to remain an average 8% per annum of GDP till 2020 according to International Society of Pharmacoeconomic and Outcomes Research (ISPOR).

Intensity of Competitive Rivalry Expected to Remain Moderate

Product launch is the primary strategy adopted by the companies in the bone graft and substitute market. New and advanced products help to improve company market visibility while competing effectively with the key competitors already present in the market.Merger and Acquisition (M&A) is the secondary strategy adopted by the companies in the bone graft and substitute market. The companies to increase their dominance and market share acquire other companies to increase their product portfolio.Intensity of competitive rivalry for the global bone graft and substitute product market is expected to remain moderate in during the forecast period of 2022-2030. The global bone graft and substitute market is highly competitive with the presence of many international players. The major companies are engaged in research and development of new bone graft and substitute. Companies are trying to compete by providing the same characteristics with similar features at competitive prices for Bone graft and substitute. Companies are focusing on new product development and collaborative research with research institutes to sustain in the market and strengthen their respective positions in the global market which is also increasing the competition.

Historical &Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Type (2020-2030; US$ Mn)

• Allografts
• Bone graft substitutes

By End User (2020-2030; US$ Mn)

• Therapeutics
• Diagnostics
• Test Components
• Non-Medical Use

By Application (2020-2030; US$ Mn)

• Spinal Fusion
• Long Bone
• Foot and Ankle
• Craniomaxillofacial
• Joint Reconstruction
• Dental

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global bone grafting and substitute market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?