Bone Grafts And Substitutes Market Driven By Growth In Orthopedic Surgeries
“Wide availability of natural as well as synthetic products is propelling the demand for orthopedic surgeries using bone graft and substitutes (BGS).”
The natural bone grafts include autografts and allografts, of which autografts are considered as a gold standard in which patients own bone is used. Thus, no commercial product is available for autografts in the market. Allografts include demineralized bone matrix which have better osteoconductive and osteoinductive activity than other allografts.
Synthetic bone graft include grafts made of ceramic, composite, polymer and bone morphogenetic proteins (BMPs). Synthetic products are available in wide range of size and shape which provide advantage of choosing suitable product as per the surgical requirement.
BGS have application in craniomaxilofacial, dental, foot and ankle, joint reconstruction, long bones and spinal fusion surgeries. Escalating adoption of minimally invasive surgeries coupled with rising incidences of spinal injuries are resulting in highest demand of BGS in spinal fusion surgeries. Increasing awareness regarding oral care and rapidly evolving insurance policies in favor of dental surgeries is anticipated to fuel the adoption of BGS in dental application.
“The bone graft and substitutes market is rapidly growing”
Geriatric population is at a higher risk of developing orthopedic injuries and disorders owing to weakened immune system and bone density. According to the data published by the United Nations, Department of Economic and Social Affairs, Population Division in 2013, number of people aged above 60 years in 2013 is 841 million and is expected to reach 2 billion in 2050. Thus, increasing geriatric population is expected to fuel the number of orthopedic surgeries in the near future. In addition, constantly rising accidental injuries are augmenting the demand for orthopedic surgeries globally. Thus, rising orthopedic surgeries are spurring the penetration of BGS.
“North America dominates the global market with largest revenue share”
Large revenue share of the region is attributed to highly developed healthcare infrastructure fueling the adoption of innovative materials and techniques in bone grafting to repair bone fractures and damages. In addition, well defined regulatory framework and presence of giant players in the country are augmenting the growth of the region.
Asia Pacific is expected to be the fastest growing market during the forecast period. Some of the factors expected to render significant growth to this region include the rising patient awareness regarding commercially available orthopedic implants, booming medical tourism and constantly improving healthcare spending. As a result, Asia Pacific is anticipated to show the fastest growth from 2016 to 2024.
“Key Players”
Many players are entering into the space considering high market potential. Existing players are investing heavily on research and development aiming addition of advanced products to their portfolio to expand their market share and also to remain competent. Some of themajor players operating in the market include but are not limited to Baxter International, Inc., Medtronic, Inc., Stryker Corporation, Orthofix, Inc., AlloSource, DePuy, Inc., NuVasive, Inc., Wright Medical Technology, Inc. Smith & Nephew, Inc., and Zimmer Holdings.
In-depth report on global bone grafts and substitutes market by Grand View Research:
https://www.grandviewresearch.com/industry-analysis/bone-grafts-substitutes-market