Bone Graft Substitute Market Overview:
The global market for bone graft substitute market is experiencing growth due to the hike in technological inclusion in the market, the impact of the investment made by various government and private bodies, infrastructural development in Asia Pacific and Latin American region to support healthcare industries of emerging economies, demand for quicker and effective treatment, and others. A surge in the geriatric population is also ensuring growth as people from this age group are more prone to bone-related injuries. Market Research Future (MRFR) identified various possibilities for the market and predicted that it could rise up to USD 5031 million valuation during the forecast period of 2019 to 2027.
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Bone Graft Substitute Market Segmentation:
The global bone graft substitute market has been studied by MRFR analysts on the basis of type and application. These segments reveal insights based on data that are backed by figures, charts, and graphs. This is expected to help in making better strategic decisions and improve profit margins.
By type, the global study on the bone graft substitute market includes demineralized bone matrix, autograft, bone morphogenetic protein, synthetic bone grafts, and others.
By application, the market includes a proper study of joint reconstruction, spinal fusion, dental, foot & ankle, long bone, and others. The autograft segment accounted for a market value of USD 833.4 million in 2016.
Bone Graft Substitute Market Regional Analysis:
The Americas are expected to boost the global Bone Graft Substitute Market with its technological superiority and infrastructural development. Easy funding in the region would also trigger the market forward. Asia Pacific may register the fastest growth during the forecast period.
Bone Graft Substitute Market Competitive Landscape:
ACE Surgical Supply Company, Inc. (US), BioHorizons (US), Dentium (South Korea), Dentsply Sirona (US), Institut Straumann AG (Switzerland), Medtronic (Ireland), Stryker (US), and Zimmer Biomet (US) are some of the major names involved in the bone graft substitute market. These companies are getting involved in the global market and are improving their stance by deploying various strategies that often looms over decisions like acquisitions, better investment tactics to support research and development sectors, mergers, innovations, branding, forming alliance, launching, and others. MRFR made an attempt to record the latest moves taken by these companies to understand the growth trajectory of the market in the future. Also, the report tries to unravel various trends that are impacting the market or may influence the market outcome in the coming years.
Bone Graft Substitute Industry News:
In June 2020, SIRAKOSS Ltd, a reputed name as a developer of nano synthetic bone graft substitutes, declared that they received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for their unique product Osteo3 ZP Putty. This putty is a new nano synthetic bone graft substitute. This product has been designed to empower surgeons with an easy-to-use, advanced solution that can have a substantial impact on the process of filling voids or gaps during medical procedures involving the spine and trauma bone grafting.
Synthetic bone grafts are a common practice to ensure the fusion of bones together during surgery, which helps in correcting congenital or degenerative conditions like the curvature of the spine, or in cases related to trauma where the bone fails to heal. Osteo3 ZP Putty comes with an unprecedented surface chemistry that has been designed to catalyze bone regeneration.
The COVID-19 situation, however, stalls the market from certain growth. Due to the outbreak, hospitals and governments are spending less to ensure they can support the treatment of coronavirus patients. Also, the lockdowns have lessened the number of accidents and such procedures, which can be detrimental to the market.
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