The Global market of Augmented Bone Graft market is expected to grow at a CAGR of approximately 7.8% during the forecast period 2017-2023.
Presently, the increasing number of bone grafting procedures and penetration of orthopaedic speciality hospitals and healthcare insurance are the factors principally driving the global augmented bone graft market. Additionally, the augmented bone graft has a wide range of application owing to its allografting nature.
The recent developments include growth factor enhanced grafts and stem cell-based auto grafts. Increasing use of recombinant DNA technology is expected to increase efficacy of the grafts. Recombinant DNA technology is however expensive. Other development has been synthetic ceramics. Being made of hydroxyapatite or other naturally occurring substances these are devoid of biological agents such as growth factors needing a mixture with bone marrow which needs additional surgery.
According to Centre for Medicare and Medicaid Services, Medicare spending grew 4.5% to $646.2 billion in 2015, while Medicaid spending grew 9.7% to $545.1 billion in 2015. Private health insurance spending was found to grow 7.2% to $1,072.1 billion in 2015. Thus, the rising healthcare penetration and expenditure will benefit the bone graft substitute market. The need for early detection or diagnosis and management is necessary for the treatment, thus paving the way for the growth of this market.
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Some of key the players in the global augmented bone graft market are Zimmer Holdings, Inc., BioMimetic Therapeutics LLC, Wright Medical Technology, Inc., Stryker Corporation, Smith & Nephew Plc, RTI Surgical, Inc., Olympus Biotech Corporation, NuVasive, Inc., NovaBone Products LLC, Medtronic, Inc., LifeNet Health, Inc., Integra LifeSciences Holdings Corporation, Exactech, Inc., DePuy Spine, Inc., Synthes Inc., DePuy Synthes Companies, Biomet, Inc., and AlloSource.
Foot & ankle surgeries are extremely important as the patients leading a normal life are dependent on whether they will be able to walk again without any pain or defect. Despite the high availability of allografts & other synthetic graft substitutes, autograft are essentially used in the surgical procedures for the treatment of foot & ankle injury. As the autograft has the osteoconductive & osteogenic properties, and it circumvents the possibility of graft rejection, fast fixation of bones as compared to other grafts, it becomes an obvious choice for the foot & ankle surgeries.
It is estimated that global augmented bone graft market is expected to grow at a CAGR 7.8% during the forecast period of 2017-2023.
Global augmented bone graft consists of regions namely Americas, Europe, Asia Pacific, and the Middle East.
North America dominated the global augmented bone graft market. As there is a transition happening in the use of the types of bone grafts for the various restorative & reconstructive procedures, the world is adopting the new technologies leading to the massive growth in the market. There are great opportunities in the augmented bone graft market in the near future as there has been great development in the synthetic bone graft segment. Considering the scenario, the existing big companies have optimized their focus in order to cope with the market.
The European market is growing at a steady pace and is anticipated to compete with the American market. As a result of advancement in the orthopedic sciences and development of the augmented dental industry in Europe, the augmented bone grafts market has grown significantly in the region.
Asia Pacific is accepting the changing trend of the bone grafting and it is expected to be the fastest growing region in the bone graft substitute market during the forecasted period 2017 to 2023.
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The augmented bone graft is segmented on the basis of products, application, and end-users.
On the basis of product, the market is segmented into the allografts, bone grafts substitutes, cell-based matrices. The allografts segment is further sub divided into machined allografts and demineralized bone matrix. The bone grafts substitutes is also sub categorized as bone morphogenic proteins (BMP) and synthetic bone grafts.
On the basis of application, the market is segmented into the craniomaxillofacial, dental, foot & ankle, joint reconstruction, long bone, and spinal fusion.
On the basis of end-user, the market is segmented into hospitals, clinics, ambulatory surgical centers and others.
Various other factors such as, increasing advancement in technology, and rising adoption rate of new technology continuously contribute to the growth of this market. Despite these developments, high cost of surgeries and ethical issues related with bone grafting procedures may hamper the growth of the market. For instance, a study conducted by BMC Medical Ethics states that in a sample of 100 patients, about 20% of the patients refuse to accept allografts for their grafting surgery.
Additionally, stringent regulations obstruct the growth of bone grafts market and inadequate reimbursement policies for bone grafting also hampers the growth of global bone grafts market. Rapid product launches and increasing mergers and acquisitions between bone graft systems manufacturing companies are some of the major trends in the global bone grafts market.
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