Pune, India, June 05, 2023 (GLOBE NEWSWIRE) -- The global bone graft substitutes market size was valued at USD 3.57 billion in 2022. The market is projected to grow from USD 3.78 billion in 2023 to USD 5.74 billion by 2030, exhibiting a CAGR of 6.2% during the forecast period.
Several benefits of the substitutes and rising incidences of bone disorders and infections are expected to enhance the industry growth. Fortune Business Insights™ presents this information in its report titled “Global Bone Graft Substitutes Market, 2023-2030.”
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Key Industry Development
- April 2022: Isto Biologics acquired TheraCell Inc to expand the portfolio of orthopedic grafts and introduce TheraCell's proprietary and patented TheraFuze DBF technology that would become part of Isto Biologics' Influx line.
Key Takeaways:
- COVID-19 Negatively Impacted Market Revenue due to Delayed Elective Surgeries
- Increasing Adoption of Bone Graft Substitutes for Dental Implants to Boost Market Growth
- Technological Advancements in Bone Graft Substitutes to Drive Market Growth
- Increasing Adoption of Synthetic Bone Graft Substitutes to Boost Market Growth
- Clinical Limitations of Bone Graft Substitutes to Hamper its Demand
- Companies with Technologically Advanced Product Portfolios to Hold Key Market Share
List of Key Players Profiled in the Report
- Medtronic PLC (Ireland)
- DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (U.S.)
- Stryker (U.S.)
- Zimmer Biomet (U.S.)
- Smith & Nephew plc (U.K.)
- SeaSpine (U.S.)
- AlloSource (U.S.)
- Bioventus (U.S.)
- MTF Biologics (U.S.)
- Orthofix Holdings, Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 6.2% |
| 2030 Value Projection | USD 5.74 Billion |
| Base Year | 2022 |
| Bone Graft Substitutes Market Size in 2022 | USD 3.57 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Product Type, Application and End User |
COVID-19 Impact
Delayed Elective Surgeries to Enhance Industry Progress
The market was negatively affected during the COVID-19 pandemic due to delayed elective surgeries. The rapid spike in COVID-19 patients led to the lack of hospital beds and equipment required for surgeries. Further, declining patient visits are expected to decline the demand for substitutes. However, lockdown relaxations increased the number of hospital visits, thereby enhancing the demand for bone graft substitutes. This factor propelled the market progress during the pandemic.
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Driving Factors
Technological Advancements in Substitutes to Propel Market Progress
Bone graft substitutes are biologics used as an alternative option for autologous bone grafts. They are used to treat union or non-union surgeries, spinal fusion, and bone defects. Rapid technological advancements in substitutes may enhance the product demand. Further, the rising number of lumbar spine surgeries may elevate the adoption of surgeries. For example, as per the research published by the NCBI in October 2019, annually, approximately 30,000 Canadian and 900,000 American adults undergo spine surgery. These factors may drive the bone graft substitutes market growth.
However, clinical limitations of the substitutes are likely to hinder the market’s progress.
Segments
Synthetic Segment to Dominate Owing to Rising Product Launches
By type, the market is segmented into allograft, Demineralized Bone Matrix (DBM), synthetic, and xenograft.
The synthetic segment is expected to dominate the market share due to rising product launches. Further, the rising prevalence of bone disorders in the region is expected to enhance the demand for the product. These factors may enhance the segmental growth.
Spinal Fusion Segment to Hold Largest Market Share Owing to Extensive Substitutes Adoption
Based on application, the market is classified into spinal fusion, joint reconstruction, foot & ankle, and others.
The spinal fusion segment is expected to dominate the market share due to extensive adoption of substitutes. Further, rising cases of patients suffering from spine disorders are expected to surge the product demand.
Hospitals Segment to Grow Positively Owing to Rising Orthopedic Procedures
As per end-user, the market is classified into specialty clinics, hospitals, and others.
The hospitals segment held the largest market share and is expected to expand at a substantial CAGR during the forecast period due to rising orthopedic procedures. Further, the strong number of orthopedists working from hospitals is expected to enhance the demand for substitutes.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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Regional Insights
Rising Launch of Synthetic Bone Graft Substitutes to Elevate Industry Growth in North America
North America is expected to dominate the bone graft substitutes market share due to the rising launch of synthetic bone graft substitutes. The market in North America was valued at USD 1.65 billion in 2022 and is expected to gain a huge portion of the global market share. Furthermore, the presence of a huge patient pool suffering from bone disorders is expected to enhance the industry growth.
In Europe, the rising prevalence of bone fractures and spinal disorders is expected to enhance the adoption of the product. Further, rising reimbursement policies and strong research & development are expected to boost the product adoption.
Competitive Landscape
Companies Announce Novel Products to Expand Market Presence
Prominent players operating in the market announce novel products to expand their market presence globally. For example, MTF Bilogics and Bone Biologics partnered in March 2022 to distribute Bone Biologics Corporations’ Demineralized Bone Matrix (DBM). This collaboration may allow the company to enhance its market presence. Further, companies devise partnerships, acquisitions, mergers, research and development, and expansions to boost their market position globally.
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Table Of Content :
- Introduction
- Market Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Recent Industry Developments Such as Mergers & Acquisitions
- Insights on Funding Scenario Pertaining to Research and Development of Bone Grafts Substitutes
- Industry Background Pertaining to Bone Graft Substitutes
- New Product Launches
- Impact of COVID-19 on Bone Graft Substitutes Market
- Global Bone Graft Substitutes Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Allograft
- Demineralized Bone Matrix (DBM)
- Synthetic
- Polymers
- Ceramic
- Hydroxyapatite
- Beta TCP
- Others
- Xenograft
- Market Analysis, Insights and Forecast – By Application
- Spinal Fusion
- Joint Reconstruction
- Foot & Ankle
- Others
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Type
- North America Bone Graft Substitutes Market Analysis, Insights and Forecast, 2019-2030
- Market Analysis, Insights and Forecast – By Type
- Allograft
- Demineralized Bone Matrix (DBM)
- Synthetic
- Polymers
- Ceramic
- Hydroxyapatite
- Beta TCP
- Others
- Xenograft
- Market Analysis, Insights and Forecast – By Application
- Spinal Fusion
- Joint Reconstruction
- Foot & Ankle
- Others
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- By Application
- Canada
- By Application
- U.S.
- Market Analysis, Insights and Forecast – By Type
Toc Continue..
FAQs :
How big is the bone graft and substitutes market?
- The global bone graft substitutes market size was valued at USD 3.57 billion in 2022 and is projected to grow from USD 3.78 billion in 2023 to USD 5.74 billion by 2030, exhibiting a CAGR of 6.2% during the forecast period.
What are the key factors driving the bone graft and substitutes market?
- The rising prevalence of disorders related to teeth and bone, increasing demand for dental bone grafts, and the growing product launches by the major players are the key factors driving the market growth.
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