The global bone graft and substitutes market size was valued at USD 2.78 billion in 2020 and it is expected to expand at a CAGR of 5.8% from 2021 to 2028. Rising incidences of bone and joint disorders is the key driver of this market. According to a CDC report, the global incidence rate of hip fracture is expected to rise by 240% in women and 310% in men. Osteoporosis is estimated to affect around 200 million women worldwide in 2018.
Bone grafts are widely adopted for orthopedic surgeries. These surgeries are classified as elective surgeries and most of the elective surgeries were postponed or canceled during the COVID-19 pandemic. This resulted in a drastic decrease in demand for devices required for orthopedic surgeries, including bone graft and substitutes. Furthermore, extended factory closures by market players in various nations also slowed down the production of the devices.
Top Key Players studied in Bone Graft and Substitutes Market
· AlloSource
· DePuy Synthes, Inc.
· Baxter
· Nuvasive, Inc.
· Smith & Nephew,
· Medtronic
· Orthofix Holdings, Inc.
· TBF Tissue Engineering
· OST Devloppement
· Zimmer Biomet
· Wright Medical Group N.V.
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The launch of biocompatible synthetic grafts is also expected to fuel the growth in the market for bone graft and substitutes. Market players are investing in the development of such grafts to gain a stronger foothold. For instance, in October 2019, McGill University developed a biocompatible and toughened multilayered bone graft for the treatment of large bone defects, which was anticipated to provide a competitive edge over other players in the market.
Global Bone Graft and Substitutes Market Segmented by Product:
· Allograft
· Synthetic
· Composites
· Polymers
· Bone Morphogenic Proteins (BMP)
Global Bone Graft and Substitutes Market Segmented by Application:
· Craniomaxillofacial
· Dental
· Foot & Ankle
· Joint Reconstruction
· Long Bone
· Spinal Fusion
Global Bone Graft and Substitutes Market Segmented by Region:
North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.)
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However, since the last quarter of 2020, the infection rate is expected to decline which will slowly restore the production cycles, hence increasing the production of bone grafts and substitutes as well. Additionally, many countries have also started to ease their lockdown by lifting certain restrictions related to healthcare facilities as well. This is expected to boost the demand for orthopedic surgeries, hence restoring the growth of the market for bone graft and substitutes.New expansion activities, product approvals, product launches, partnerships, and acquisitions have positively impacted the market in recent years.
Research Objectives:
• To study and analyze the Bone Graft and Substitutes Market size by product type, application and key regions/countries history data from 2016 to 2020, and forecast to 2028.
• To understand the structure of the Bone Graft and Substitutes Market by identifying its various sub-segments.
• Focuses on the Bone Graft and Substitutes Market players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Bone Graft and Substitutes Market with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market.
• To project the size of Bone Graft and Substitutes Market, with respect to key regions.
• To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
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- Offers detailed market breakdown and data triangulation that will help guide the market trends.
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- Give’s a thorough analyst’s viewpoint which guides the client through market collaterals for the better opportunities in the market.
· Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare
