Wilmington, Delaware, United States, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The global bone graft substitutes market is projected to flourish at a CAGR of 3.4% from 2020 to 2030. As per the report published by TMR, a valuation of US$ 3.9 billion is anticipated for the market in 2030. As of 2023, the market for bone graft substitutes is expected to close at US$ 3.3 billion.
Increasing awareness of the importance of bone health and early intervention in conditions like osteoporosis has driven the demand for bone graft substitutes as preventive and therapeutic measures.
An increase in focus on research and development, the onset of new, cost-efficient, and highly effective bone graft substitute materials, and a rise in the adoption of bone graft substitutes in the regenerative medicine field are expected to boost the market demand.
Orthopedic injuries are a major health issue in the young as well as the geriatric population. Rheumatoid arthritis and osteoarthritis are highly common orthopedic diseases among the geriatric population. Growth of the global bone graft substitutes market is expected to be driven by a rise in the prevalence of degenerative joint diseases
Continuous advancements in medical technology have led to the development of innovative and effective bone graft substitutes. These substitutes are designed to promote bone healing, reduce complications, and improve patient outcomes.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 2.9 Bn | |
| Estimated Value | US$ 3.9 Bn | |
| Growth Rate - CAGR | 3.4% | |
| Forecast Period | 2021-2031 | |
| No. of Pages | 318 Pages | |
| Market Segmentation | By Product, Application, End User, Material | |
| Regions Covered | North America, Latin America, Europe, Asia Pacific, Middle East & Africa | |
| Companies Covered | DePuy Synthes, RTI Surgical, Inc., Integra LifeSciences, NuVasive, Inc., Stryker, Wright Medical Group N.V., Xtant Medical, Zimmer Biomet, Baxter, Medtronic | |
Key Takeaways from the Market Study
- As of 2022, the coffee servers market was valued at US$ 3.2 billion
- By material, ceramic-based segment to enjoy high demand, accumulating a high revenue share during the forecast period.
- Based on product, the allografts segment is anticipated to dominate the industry during the forecast period
- Based on application, the spinal fusion segment is expected to generate high revenue during the forecast period.
Bone Graft Substitutes Market: Key Trends and Opportunistic Frontiers
- Bone graft substitutes are finding new applications beyond orthopedic surgery, including dental procedures, maxillofacial surgeries, and plastic surgeries, further driving market growth.
- Advances in materials science have led to the development of biocompatible and safe bone graft substitutes that minimize the risk of complications and adverse reactions, driving the market growth.
- Rise in prevalence of bone and joint disorders, increase in government initiatives for joint replacement surgeries, and surge in the number of healthcare facilities are projected to drive the global bone graft substitutes market in the near future
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Bone Graft Substitutes Market – Regional Analysis
- North America is a major contributor to the Bone Graft Substitutes Market due to a high prevalence of orthopedic conditions, a well-established healthcare infrastructure, and a strong focus on research and development. The growing elderly population and an increasing number of orthopedic procedures in countries like the United States and Canada drive the market demand.
- Asia Pacific is expected to account for a significant market share during the forecast period. The rapidly aging population and the increasing prevalence of orthopedic disorders are driving market growth. The Chinese government's healthcare reforms and investments in healthcare infrastructure are also contributing factors.
Competitive Landscape
The global bone graft substitutes market is highly competitive, with the presence of prominent players in the international market. The top players hold the majority share of the global bone graft substitutes market. Prominent players operating in the global bone graft substitutes market include
- DePuy Synthes
- RTI Surgical, Inc.
- Integra LifeSciences
- NuVasive, Inc.
- Stryker
- Wright Medical Group N.V.
- Xtant Medical
- Zimmer Biomet
- Baxter
- Medtronic
Key Developments in the Bone Graft Substitutes Market
- Stryker has a strong presence in the orthopedic market and offers various bone graft substitute products, including synthetic grafts and biologics. They have expanded their product portfolio through strategic acquisitions and partnerships.
- Zimmer Biomet is known for its orthopedic and musculoskeletal solutions. They have invested in research to develop advanced bone graft substitutes, incorporating biologics and 3D-printed technologies.
- Wright Medical specializes in extremities and biologics solutions for orthopedic and musculoskeletal care. They have introduced innovative bone graft substitutes and have expanded their market presence through acquisitions.
Partial Table of Content (ToC):
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Bone Graft Substitutes Market
4. Market Overview
4.1. Introduction
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Bone Graft Substitutes Market Analysis and Forecast, 2018–2030
5. Market Outlook
5.1. Technological Advancement
5.2. Key Industry Events (mergers, acquisitions, collaborations, partnerships, etc.)
5.3. Number of Bone Grafting Procedure, 2019
5.4. Pricing Analysis, 2019
5.5. Autologous Product Advancement
5.6. COVID-19 Pandemic Impact on Bone Graft Substitutes Industry
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Bone Graft Substitutes Market – Key Segments
Product
- Allografts
- Demineralized Bone Matrix (DBM)
- Others
- Synthetic Bone Graft
- Xenograft
- Autograft
- Others
Material
- Ceramic-based
- Calcium Phosphate
- Calcium Sulfate
- Polymer-based
- Polylactides
- Polyglycolides
- Polyurethanes
- Others
- Growth Factor-based
- Cell-based
- Others
Application
- Craniomaxillofacial
- Dental
- Foot & Ankle
- Joint Reconstruction
- Spinal Fusion
- Long Bones
- Others
End-User
- Hospitals
- Clinics
- Academic & Research Institutes
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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