Market Synopsis of Global Bone Graft Substitute Market
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 fix facture bones and bone injury. The procedure involves transplantation of bone tissues to augment and regenerate bones that are lost due to diseases or an injuries. Autografts have been used for decades for the grafting purposes. Autografts is one of the greatest available surgical procedure for the bone grafting. However, due to the double incision required during the autograft procedure, the pain associated with the procedure, and the post-operative pain on both the sites have encouraged the scientists to look for the alternatives. With the changing trends, use of the allografts, xenografts, and synthetic bone grafts is on the rise. Thus, with the development of these innovative products as a substitute for the real bones, the global market for bone graft substitute is growing.
Increased use of bone grafting procedure in the fixation of the damaged/ broken bones, high demand of the bone graft substitutes in the military medical units, rising geriatric population with increasing orthopaedic problems, and increasing need for the reconstructive orthopaedic treatments drive the growth of the market. Additionally, increased usage of the bone graft substitutes in the field of dentistry and technological advancements from the leading market players with innovative bone graft products add fuel to the market growth. Furthermore, patient safety due to the risk of disease transmission in allografts and xenograft, risk of graft rejection, improper fixation and weak bonding, and unmet medical needs in the low income countries may hamper the growth of the market.
Considering all these factors, the global 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.
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Key Players in the Global Bone Graft Substitute Market
ACE Surgical Supply Company, Inc.
BioHorizons IPH, Inc.
Dentium Co., Ltd.
Institut Straumann AG
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
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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