The World market of Bone Graft Substitute is expected to reach $ 5,031.0 million by the end of 2027, this market is projected to grow at a CAGR of ~ 6.52% during the forecast period 2017-2027.
The Bone Graft Substitute Market offers great opportunities in the form of technological advancements in the orthopaedic industry, opportunities for investments, and consolidation for big healthcare providers in the U.S. among others. Synthetic material used in manufacturing of bone graft substitutes, for instance, hydroxyapatite are devoid of organic and biological agents, which hinder osteoconduction, osteoinduction, and osteogenesis. Thus, technological advancement in the form of recombinant DNA technology is use to eliminate these drawbacks by mixing these materials with growth factors to enhance grafts and stem cell-based auto grafts. The greater use of biotechnology is expected to increase the characteristics of synthetic bone graft such as osteoconduction, osteoinduction and osteogenesis, etc.
Bone grafting is a surgical procedure carried out to fix bone fracture and bone related injury. The procedure involves transplantation of a bone tissue to augment and regenerate bones that are lost due to a disease or an injury. Autograft have been used for decades for the grafting purposes and is considered as the gold standard procedure for the bone grafting. However, due to the requirement of double incision during the autografting procedure, the pain associated with the procedure, and the post-operative pain on both the sites have encouraged scientists to look for the substitute products for the autografts. With the changing trends, use of the allografts, xenografts, and synthetic bone grafts is on the rise. With the development of these innovative products as the substitutes for the real bones, the global bone graft substitute market is growing.
Technological advancement such as recent developments in grafts and stem cell-based autografts. Furthermore, increasing use of recombinant DNA technology is expected to increase efficacy of the grafts. However, recombinant DNA technology is expensive. Other development, for instance, synthetic ceramics- made of hydroxyapatite or other naturally occurring substances these are devoid of biologic agents such as growth factors needing a mixture with bone marrow, which needs additional surgery. The greater use of biotechnology is expected to increase the characteristics of synthetic bone graft such as osteoconduction, osteoinduction, and osteogenesis, etc. Thus, technological advancement will increase the efficacy of the bone grafting procedure, especially, the synthetic ones, which is expected to drive the growth of the market.
The autograft segment accounts for the largest market share of the global bone graft substitute market by type. This major share is mainly attributed to the fast fixation of bones due to the osteoinductive, osteoinductive properties of the bones, less risk of graft rejection, and less acceptance of the synthetic graft substitutes in many parts of the world.
Significant growth in sensitivity towards patient safety, and regulatory compliance hampers the market growth. Additionally, due to strict FDA focus on evidence that validates suitable degree of control and management oversight in the manufacture of bone graft substitute products, slow the growth of the market. The regulatory agencies as getting more concerned with the biotech products due to the inherent risks of adverse reactions and the threat to life.
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Key Players in the Global Bone Graft Substitute Market
- ACE Surgical Supply Company, Inc.
- BioHorizons IPH, Inc.
- Dentium Co., Ltd.
- Dentsply Sirona
- Institut Straumann AG
- Medtronic plc
- Stryker Corporation
- Zimmer Biomet
Americas accounted for the largest market share in 2016, and is projected to grow at a CAGR of 6.1% during the forecast periodEurope was the second-largest market in 2016 and is projected to grow at a CAGR of 6.76%Asia Pacific is projected to show the fastest growth at the CAGR of 6.85% during the forecast period 2017-2027
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The global bone graft substitute market has been segmented on the basis of type and application. Based on type, the market has been segmented as autograft, demineralized bone matrix, synthetic bone grafts, bone morphogenetic protein, and others. Based on the application, the market has been segmented as a spinal fusion, joint reconstruction, long bone, dental, foot & ankle, and others.
The US accounts for the significant market share due to extensive use of medications and greater expenditure on health care. The fastest uptake of new technology and devices in the US is also an important driver of the global bone graft substitute market. The concentration of the major medical device manufacturers in the developed regions is also adding fuel to the market.
Europe is the second largest market due to a high disposable income and rising awareness regarding bone graft substitutes.
Asia Pacific region is expected to grow rapidly and is estimated that China and India will lead the market.
Gulf nations, particularly, Saudi Arabia and UAE drives the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic and political conditions, and poor healthcare penetration.
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The report for Global Bone graft substitute market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
We are thankful for the support and assistance from Bone Graft Substitute Market Research Report- Global Forecast till 2027 chain related technical experts and marketing experts during Research Team survey and interviews.
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