Market Research Report
Global Bone Graft and Substitute Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||574465|
|Published||Content info||233 Pages
Delivery time: 2-3 business days
|Global Bone Graft and Substitute Market Forecast 2020-2028|
|Published: February 3, 2020||Content info: 233 Pages||
The global market of bone graft and substitute is estimated to grow at a CAGR of 4.89% during the estimated period of 2020-2028. The key factors propelling the market growth are the growing prevalence of orthopedic defects, rising orthopedic surgeries across the globe, a transition towards minimally invasive surgeries, and unprecedented growth of the aging population.
The usage of bone graft and substitute is noted to the highest in spinal fusion surgeries, among other applications. However, in terms of revenue generation, the dental application is the largest segment. The major factors leading to the adoption of bone graft and substitute in dental surgeries are the flourishing tourism industry and comparatively low cost of the surgeries. The global market has been segmented based on application, type, and harvesting and fixation devices. The wide range of applications includes degenerative joint diseases, and spinal fusion and joint reconstruction. An unhealthy lifestyle leads to obesity and diabetes, which increases the risk of degenerative diseases. One of the common conditions of the aging population is osteoarthritis. Globally, one in twelve people above the age of 60 has osteoarthritis. The main reason for the adoption of bone graft and substitute in surgeries is these products are minimally invasive, thereby making the healing process faster with reduced pain in surgery.
The factors hampering the market growth are the high costs of the surgeries, strict regulations for the approval of orthobiological products due to off label use of bone graft material, ethical issues associated with bone grafting procedures, and surgical risk related to immune response.
The global market of bone graft and substitute is analyzed geographically on the basis of markets situated across the regions of North America, Europe, Asia Pacific, and the Rest of the World. As of 2019, the region of North America holds the largest market share in terms of revenue and continues the trend by the end of the projected period. This is attributed to the rising incidences of bone fractures that require bone grafting treatment and other bone-related diseases like osteoporosis and osteoarthritis. The region of Asia Pacific is projected to be the fastest-growing market in terms of revenue. The rising demand for biocompatible synthetic bone grafts is one of the primary factors boosting the market growth in the region.
The market boasts the presence of a large number of global industry players. Some of the prominent companies operating in the market are Baxter International Inc., Zimmer Biomet Holdings Inc., Integra LifeScience Corporation, Stryker Corporation, etc.