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Global Bone Graft and Substitutes Market to Reach US$ 3.4 Billion by 2024, Stimulated by Development of Advanced Technologies

The latest report by IMARC Group, titled “Bone Graft and Substitutes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global bone graft and substitutes market size reached US$ 2.6 Billion in 2018. Bone graft and substitutes play a crucial role in facilitating and enhancing the healing process of damaged bones. They are either made of biological components such as demineralized bone matrix, platelet-rich plasma and hydroxyapatite, or synthetic materials, including tricalcium phosphate ceramics, calcium sulfate, bioactive glasses and other polymer-based substitutes. They come in multiple forms ranging from pellets and moldable putty to injectables and solid blocks. Nowadays, bone grafts and substitutes are widely being used in facial and spinal surgeries, complex fracture treatments and wound healing as they help in new bone formation, bone healing and osseous reconstruction. 

Global Bone Graft and Substitutes Market Trends:

Over the past few years, there has been a rise in the number of people who have rheumatoid arthritis, osteoarthritis, and other joint disorders. Owing to this, several market players have developed bone graft materials and technologies, such as 3D printing or prototyping. They have also improved ceramic and polymer-based bone grafts that have superior biological properties. This, in turn, has increased the demand for bone grafts and substitutes, especially among the geriatric population across the globe. Besides this, researchers are also focusing on developing biologic alternatives that will enhance the functionality of the bone graft substitutes and potentially reduce or eliminate the need for autografts. Owing to these factors, the market value is projected to reach US$ 3.4 Billion by 2024, expanding at a CAGR of around 5% during 2019-2024.

Market Summary:

  • Based on the material type, the market has been bifurcated into allografts, bone grafts substitutes, cell-based matrices and others.
  • On the basis of the application, the market has been segmented as spinal fusion, trauma, joint reconstruction, foot and ankle, dental bone grafting, craniomaxillofacial and others.
  • The market has been categorized based on the end user into hospitals, surgical centers, clinics and others.
  • Region-wise, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
  • The competitive landscape of the market is characterized by the presence of several small and large manufacturers who compete in terms of prices and quality. Some of the leading bone graft and substitutes market competitors include Zimmer Biomet Holdings, Inc. DePuy Synthes Companies, Wright Medical Group N.V., Medtronic Plc, Stryker Corporation, NuVasive, Inc., Arthrex, Inc., Integra LifeSciences Corporation, Baxter International, Inc., Musculoskeletal Transplant Foundation, Bacterin International Holdings, SeaSpine Holdings and LifeNet Health, Inc.

 

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