Bone Graft and Substitutes Market will reach to USD 5.78 billion by 2030 : GreyViews

Pune India, Jan. 03, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where bone graft and substitute market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the bone graft and substitute market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, end-user and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs. 

The significant players operating in the global bone graft and substitute market are AlloSource, Baxter, Johnson & Johnson Services, Inc., Smith & Nephew, Stryker, Orthofix Medical Inc., Zimmer Biomet, Medtronic, Geistlich Pharma AG, Dentsply Sirona, Biobank, Wright Medical Group N.V., Globus Medical, BioHorizons, Integra LifeSciences, Arthrex, Inc., Artoss, Inc., ACE Surgical Supply Co., Inc., ACE Surgical Supply Co., Inc., Institut Straumann AG and NuVasive, Inc., among other. To achieve a substantial market share in the worldwide Biologic imaging reagents market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Bone grafting is a medical term for the surgical methods used to repair fractures or holes in fractured bones with new bone tissue. Despite the development of artificial bone graft alternatives, the procedure has been used for a while to treat spinal fusion, delayed union or non-union, and exceedingly intricate bone abnormalities that pose serious health concerns to patients. Allogeneic grafts and synthetic alternatives have been discovered to pose a threat over the long term when combined with host bone, nevertheless. As a result, these grafts and replacements frequently undergo osteointegration after the procedure. Growth in the global bone grafts and substitutes market is anticipated to be fueled by the rising incidence of bone cancer. Over the course of the forecast period, the global bone grafts and substitutes market is anticipated to rise as a result of the rising incidence of bone cancer. For instance, the American Society of Clinical Oncology (ASCO) estimates that 3,450 Americans of all ages received a primary bone cancer diagnosis in 2017. The U.S. market for bone cancer treatments is thus anticipated to rise as a result of new cases of bone cancer.

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Scope of Bone Graft and Substitutes Market Report

Segmentation Analysis

The allograft segment is expected to be the fastest-growing segment in 2022. 

The type segment is an allograft, synthetic, Demineralized Bone Matrix (DMI), and xenograft. The allograft segment is expected to witness the highest growth rate during the forecast period. Due to the benefits of allografts, such as high osteo conductivity and quick structural support, their utilization is rising. Additionally, they don't require a second operation, which shortens the surgical procedure and speeds up wound healing. These are regularly used on the spine, hip, and knee. Demineralized bone matrices are available in a range of dimensions and forms, including chips, pellets, and granules. They also have osteoinductive and osteoconductive properties, which adds to their appeal and the expansion of the market.

The spinal fusion segment is expected to be the fastest-growing segment in 2022. 

The application segment is dental, foot and ankle, long bone, craniomaxillofacial, joint reconstruction, and spinal fusion. The spinal fusion segment is expected to witness the highest growth rate during the forecast period. The development can be attributed to an increase in spondylosyndesis surgeries utilizing bone transplant materials. Additionally, the need for corrective surgery is rising due to the aging population, which is more prone to orthopedic disorders. This is anticipated to hasten market expansion in the near future. Between 2015 and 2050, the senior population is expected to double, from 12% to 22%, according to the World Health Organization. The segment is expected to benefit significantly from growing graft utilization for dental procedures over the course of the forecast period. The grafts are often used as a scaffold and filler to hasten healing and aid in the formation of new bone.

The hospital segment is expected to be the fastest-growing segment in 2022. 

The end-user segment is hospitals, specialty clinics, and others. The hospital segment is expected to witness the highest growth rate during the forecast period. The segmental growth is attributed to hospitals' extensive use of orthopedists. Throughout the forecast period, it is also anticipated that more patients would visit hospitals to select from a range of spine and joint reconstructive procedures. For instance, a Healthline Media story from April 2020 reports that total knee replacement surgery is now often carried out at numerous facilities, with an estimated 600,000 procedures carried out a year.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the bone graft and substitutes include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

• The North America region witnessed a major share. The main factors influencing regional market growth are rising awareness of novel goods that are commercially available, accessibility to a highly developed healthcare system, and greater healthcare spending of 16.9% in 2018. Due to the rising incidence of orthopedic diseases and trauma-related injuries, the American market is outpacing both the North American and global markets by creating the highest demand for bone grafts and substitutes.

Country Analysis

• Germany

Germany's bone graft and substitutes market size was valued at USD 0.0051 billion in 2022 and is expected to reach USD 0.0074 billion by 2030, at a CAGR of 4.8% from 2023 to 2030. The growing number of strategic initiatives, such as product launches, approvals, acquisitions, mergers, partnerships, and joint ventures, is expected to improve regional growth.

• China

China's bone graft and substitutes market size was valued at USD 0.0071 billion in 2022 and is expected to reach USD 0.0110 billion by 2030, at a CAGR of 5.7% from 2023 to 2030. Rising healthcare expenses, more understanding of commercially available technology, and accessibility to an extensive healthcare system are the three key factors influencing the region's growth.

• India

India's Bone graft and substitutes market size was valued at USD 0.0063 billion in 2022 and is expected to reach USD 0.0093 billion by 2030, at a CAGR of 5% from 2023 to 2030. Emerging nations like India focus on constructing medical facilities like specialty clinics in order to handle a larger patient pool. Long-term market growth is predicted to be supported by the focused focus on improving healthcare infrastructure.

Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of the bone graft and substitutes market is mainly driven owing to the rising demand for dental bone grafts.

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