Dublin, May 11, 2023 (GLOBE NEWSWIRE) -- The "Bone Grafts and Substitutes Market by Type, Application, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The bone grafts and substitutes market size valued for $2,586.30 million in 2021 and is estimated to reach $4,005.26 million by 2031, exhibiting a CAGR of 4.5% from 2022 to 2031.
The major factors driving the growth of bone grafts and substitutes market include increase in incidence of musculoskeletal disorders, technological advancements for development of advanced bone grafts, and rise in number of sport injuries. There is an increase in the prevalence of musculoskeletal disorders such as osteoarthritis, osteoporosis, and other bone-related conditions, which is driving the demand for bone grafts and substitutes.
Bone grafts and substitutes are often used to restore bone mass and promote healing as these conditions can cause bone loss. In addition, there is an increase in the number of surgical procedures performed each year and many of these procedures require the use of bone grafts and substitutes. For instance, spinal fusion surgery which often involves the use of bone grafts or substitutes, is one of the fastest-growing surgical procedures in the U.S. Thus, increase in number of these surgeries results in demand of bone grafts and substitutes and also propels the market expansion.
In addition, advances in technology have led to the development of new bone grafts and substitutes that offer improved biocompatibility, better healing properties and reduced risk of infection or rejection. These advancements are driving the demand for newer, and advanced products.
Further, a rise in the number of new product launches by key players of the market is anticipated to drive the growth of bone grafts and substitutes market. For instance, in February 2022, Orthofix Medical Inc., launched Opus BA, a synthetic bioactive bone graft solution for cervical and lumbar spine fusion procedures. Thus, rise in new product launches by key players further drives the growth of the bone grafts and substitutes market.
Furthermore, rise in adoption of strategies by key players of the market cater the demand for bone grafts and substitutes is expected to drive the growth of the market.
For instance, in January 2023, Zimmer Biomet Holdings, Inc. acquired Embody, Inc., a privately-held medical device company focused on soft tissue healing. The acquisition includes Embody's complete portfolio of collagen-based bio integrative solutions to support healing in the most challenging orthopedic soft tissue injuries. Thus, rise in adoption of such strategies is anticipated to drive the growth of the market.
However, strict regulatory pathways for approval are the factors that restrain the growth of the market. In addition, absence of favorable reimbursement policies in some countries is expected to hinder the growth of the market. Furthermore, rise in demand for advanced bone grafts, increase in awareness about available bone grafts & substitutes and rise in investments for orthopedics offer lucrative opportunities for the key players of the bone grafts and substitutes market.
Key Market Insights
- On the basis of type, the bone graft substitutes segment was highest contributor to the market in 2021.
- On the basis of application, the spinal fusion segment dominated the market in terms of revenue in 2021. However, the joint reconstruction segment is anticipated to grow at the highest CAGR during the forecast period.
- On the basis of end user, the hospitals segment dominated the market in terms of revenue in 2021.
- Region wise, North America generated the largest revenue in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bone grafts and substitutes market analysis from 2021 to 2031 to identify the prevailing bone grafts and substitutes market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the bone grafts and substitutes market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global bone grafts and substitutes market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Allografts
- Type
- Machined allografts
- Demineralized bone matrix
- Bone grafts substitutes
- Type
- Bone morphogenic proteins (BMP)
- Synthetic bone grafts
- Cell based matrices
By Application
- Spinal fusion
- Trauma
- Joint reconstruction
- Dental bone grafting
- Craniomaxillofacial
By End user
- Hospitals
- Specialty clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Arthrex, Inc.
- Johnson & Johnson
- Medtronic plc
- Stryker Corporation
- Baxter International Inc.
- Xtant Medical Holdings, Inc.
- Integra LifeSciences
- NuVasive, Inc.
- Zimmer Biomet Holdings, Inc.
- Orthofix Holdings, Inc.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BONE GRAFTS AND SUBSTITUTES MARKET, BY TYPE
CHAPTER 5: BONE GRAFTS AND SUBSTITUTES MARKET, BY APPLICATION
CHAPTER 6: BONE GRAFTS AND SUBSTITUTES MARKET, BY END USER
CHAPTER 7: BONE GRAFTS AND SUBSTITUTES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/b6uhb7
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