Bone Graft and Substitutes Market Expand CAGR of 3.9% 2015-2023 and Reach Valuation of US$1,148.0 Mn By 2023
The report points out that the growing prevalence of bone and joint disorders, along with the rise in number of orthopedic surgeries will drive the demand from the global bone graft and substitutes market. Rapidly growing medical tourism across developing countries will also boost the growth of the overall market. However, the risks of post implantation infections and ethical issues are expected to restrain the market during the forecast horizon. The global bone graft and substitutes market has a huge opportunity to grow across emerging economies with the availability of large patient pool and rise in disposable income.
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On the basis of types, the report segments the global bone grafts and substitutes market into allograft and bone graft substitutes. Allograft refers to a tissue graft received from a donor of the same species. Ready availability of allografts in various sizes and shapes is expected to fuel the demand for allograft during the forecast horizon. Around one-third of the bone graft procedures across the U.S. use allografts. To reduce the risks of infections, allograft tissue undergoes sterilization, freeze drying, and tissue freezing. The allograft segment is projected to expand at a CAGR of 3.9% during the forecast period and reach a valuation of US$1,148.0 mn by 2023.
Bone graft substitutes segment is estimated to register the fastest growth in the global bone graft and substitutes market during the period between 2015 and 2023. Bone graft substitutes segment is further divided into bone morphogenetic proteins (BMPs), synthetic bone grafts, and others. In 2014, the demand for bone morphogenetic proteins was the highest and the sub-segment accounted for 34% share in the bone graft substitutes market in 2014.
In terms of applications, the report categorizes the global bone graft and substitutes market into long bone, spinal fusion, craniomaxilofacial, foot and ankle, joint reconstruction, and dental. While allografts are widely used for spinal trauma, craniomaxilofacial, joint reconstruction, and dental procedures, synthetic bone grafts are used spinal fusion and long bone procedures. In 2014, the spinal fusion application segment dominated the overall market owing to increasing demand for minimally invasive surgeries.
The report studies the global bone graft and substitutes market across Latin America, Asia Pacific, Europe, North America, and Rest of the World. The market is projected to expand across the emerging economies in Asia Pacific, Latin America, and Rest of the World.
The report profiles some of the key players in the global bone graft and substitutes market such as Medtronic plc, AlloSource, Stryker Corporation, DePuy Synthes, Baxter International, Nuvasive Inc., Wright Medical Group, Zimmer Inc., and Orthofix Holdings Inc.
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