Bone Grafts and Substitutes Market is Rising to a Valuation of US$3.48 bn in 2023

The global bone grafts and substitutes market is consolidated with leading three companies accounting for over 50% of the market in 2014, finds Transparency Market Research (TMR). These three companies are: Stryker Corporation, Zimmer, and Medtronic. Players within the market are competitive and are each vying for sustainable growth so as to increase their global footprint. Players in the market are showing interest in being a part of long term contracts with dental clinics and hospitals so as to better maintain their sales and service relationships. Players are also offering additional services to improve their relationship with buyers. Many companies are participating in merger and acquisitions so as to expand their geographical reach.

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According to Transparency Market Research, the global bone graft and substitutes market will be worth US$3.48 bn by the end of 2023. On the basis of geography, the market was led by North America in 2015 on account of the presence of a large number of players. The increasing number of product innovations and launch of novel therapeutics in this region is driving the bone grafts and substitutes market in North America. The high demand for orthopedic surgeries especially by geriatric population base is another reason for the growth of the market in the region. By 2023, the North American market is estimated to be worth US$1.23 bn. By application, the bone grafts and substitutes in spinal fusion segment is estimated to expand at a 4.4% CAGR between 2015 and 2023.

Increasing Incidences of Arthritis Driving Bone Grafts and Substitutes Market

The growing prevalence of bone and joint disorders is a key factor boosting the growth of the market across the world. The Centers for Disease Control and Prevention (CDC) reports that over 67 mn people in the U.S. alone, are expected to be diagnosed with arthritis by 2030. Since arthritis is a leading cause of disability and is affecting millions around the world. All these factors are anticipated to fuel the growth of the bone grafts and substitutes market. The dramatic growth in the number of orthopedic surgeries being held will also fuel the growth of this market. The market in developing nations is expected to boom on account of medical tourism. The countries such as, Japan, Mexico, China, and Malaysia are emerging as key markets for bone grafts and substitutes. Affordable treatment is boosting the growth of this market in these nations.

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Increasing Cases of Implant Failure to Pose a Threat to Market

The increasing reports of post implantation infections are one of the key challenges of the global bone grafts and substitute market. The increasing implant failures are also posing a threat to the growth of this market. The increasing difficulty in obtaining allografts from donors and reserving is causing ethical issues related to storing and harvesting them, which is another challenge for the market. In addition to this, gestation periods between supply and demand of allografts are very long and will give rise to ethical issues. Thus, several stringent regulations have been implemented on the use of bone grafts and substitutes so as to curb malpractices. These regulations are also being implemented to keep risk of infections in check. All these factors will restrict the growth of the market. However, the growing geriatric population will drive the growth prospects of the market. In addition to this, growing healthcare expenditure is also expected to bode well for the market. This will even inspire new players from entering the market, stated a TMR analyst.

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Bone Grafts and Substitutes Market witness handsome growth in upcoming years

Bone grafts have been used for bone regeneration, structure restoration, and pain relief for decades. Conventionally, autografts were used for bone grafting, wherein patient’s own bone was used as a graft. Autologous bone grafts are considered a gold standard for bone transplant. However, usage of autologous bone grafts involves the risk of infection transfer; surgical procedures at both tissue harvesting and transplant sites which result in delayed wound healing and prolonged hospital stay. Hence, allografts were introduced in the market to overcome the disadvantages associated with autologous grafts. Allografts possess both osteoinductive and osteoconductive properties, and hence serve as a substitute for autografts. Ready availability of allografts in various shapes and sizes that can be processed in various forms such as chips and others as per requirement is likely to be one of the major factors fueling the growth of the allografts segment during the forecast period from 2015 to 2023. The allografts segment has been sub-segmented into demineralized bone matrix (DBM) and others. DBM is one of the most commonly utilized biomaterial with fewer side effects. There are a wide range of commercially available DBM products in the market. Moreover, continuous efforts to improve the mode of application of DBM is expected to boost the growth of the segment. Bone graft substitutes is the fastest growing segment of the global bone grafts and substitutes market. The bone graft substitutes segment comprises synthetic bone grafts, bone morphogenetic proteins (BMP), and others. Growth of the BMP segment is primarily driven by advantages over allograft tissues, which present a potential risk of disease transmission, morbidity, and availability issues. However, biocompatibility issues and high cost are some of the factors that restrain the growth of the BMP segment. Stryker Corporation and Medtronic plc dominate the BMP and other synthetic bone grafts segments.

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Bone grafts and substitutes are used in various application areas such as spinal fusion, foot and ankle, long bone, dental, joint reconstruction, and craniomaxillofacial procedures. Allografts are majorly used for the treatment of joint reconstruction, spinal, trauma, craniomaxillofacial, and dental procedures. Synthetic bone grafts are majorly used in long bone and spinal fusion procedures. The spinal fusion application segment dominated the global bone grafts and substitutes market in 2014 due to rising geriatric population and increasing global demand for minimally invasive surgeries. For instance, according to the American Academy of Orthopaedic Surgeons (AAOS), about 465,000 spinal surgeries were performed in the U.S. in 2011. Of all the spinal fusion surgeries performed, 46% were for lumbar fusion, 41% were for cervical fusion, and the remaining 13% were for thoracic or multi-level fusion procedures. Thus, rising incidence of spinal injuries is likely to drive the segment during the forecast period. On the other hand, rising preference for stem cell therapy and other growth factors such as platelet derived factors could hamper market growth during the forecast period.

North America accounted for the largest share of the global bone grafts and substitutes market in 2014, followed by Europe. The BGS market in North America is expected to witness a growth rate of 3.5% during the forecast period from 2015 to 2023. Factors such as strict compliance to governmental regulations, continuous technological advancements, and increased focus on patient safety and patient care have been attributed to the dominance of North America. In addition, rise in the number of road accidents and increasing awareness among people about various types of bone grafts and substitutes are the other factors propelling the growth of the market. The bone grafts and substitutes market in Asia Pacific is anticipated to expand at the highest CAGR during the forecast period from 2015 to 2023, followed by Latin America, due to evolving countries in terms of manufacturing capacity, technological development, and booming medical tourism industry in this region.

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Key players operating in the global bone grafts and substitutes market include AlloSource, Medtronic plc, Stryker Corporation, Baxter International, DePuy Synthes, Nuvasive, Inc., Wright Medical Group, Zimmer, Inc., and Orthofix Holdings, Inc.

Bone Grafts and Substitutes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

According to a new market report published by Transparency Market Research Bone Grafts and Substitutes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023, the global bone grafts and substitutes market was valued at USD 2.35 billion in 2014 and is anticipated to expand at a CAGR of 4.5% from 2015 to 2023 to reach USD 3.48 billion in 2023.

Bones have the natural ability to heal, but if the defects surpass a critical size, then surgical intervention is often required to regenerate the bone. Hence, presently, various bone grafts and substitutes are available to regenerate the bone. According to the American Academy of Orthopaedic Surgeons, the ideal bone graft substitute (BGS) is biocompatible, easy to use, osteoinductive, osteoconductive, structurally similar to bone, and cost effective. Factors such as rapid technological changes from autografts to allografts and penetration of synthetic and tissue engineered bone grafts in the market are propelling the growth of the bone grafts and substitutes market. Moreover, increasing demand from customers and rising industry standards are spurring the growth of the global bone grafts and substitutes market. Additionally, according to the International Osteoporosis Foundation, worldwide incidence of fracture is anticipated to increase by 240% in women and 310% in men by 2050. Thus, these factors are expected to drive the global bone grafts and substitutes market during the forecast period from 2015 to 2023.

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The global bone grafts and substitutes (BGS) market has been categorized into allografts and bone graft substitutes. The allografts segment includes demineralized bone matrix (DBM) and other allografts (freeze-dried bone and fresh frozen bone). The bone graft substitutes segment has been further classified into synthetic bone grafts, bone morphogenetic protein (BMP), and others.

Allograft is a tissue graft which is received from a donor of the same species; it is not genetically identical as an autograft. Allografts possess both osteoinductive and osteoconductive properties, and hence serve as a substitute for autografts. Ready availability of allografts in various shapes and sizes that can be processed in various forms such as chips and others as per requirement is likely to be one of the major factors fueling the growth of the allografts segment during the forecast period from 2015 to 2023. In the U.S., approximately one third of bone graft procedures use allografts, however risk of infection transmission is associated with its usage. Therefore, in order to minimize the risk of diseases transmission, allograft tissue is treated with several techniques such as tissue freezing, freeze drying, and sterilization. Thus, these factors collectively propel the growth of the allografts segment. The allografts segment is anticipated to reach USD 1,148.0 million in 2023 at a CAGR of 3.9% during the forecast period from 2015 to 2023.

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Bone graft substitutes is the fastest growing segment of the global bone grafts and substitutes market. The bone graft substitutes segment comprises synthetic bone grafts, bone morphogenetic proteins (BMP), and others. Factors such as increasing procedural volume of spinal fusion and joint reconstruction due to rising geriatric population and launch of innovative products are the major factors supporting the growth of this segment. Bone morphogenetic proteins (BMP) accounted for the largest share of around 34% of the bone graft substitutes segment in 2014. BMPs are a group of growth factors that play a significant role in bone induction, regulation, and repair. Technological advances in biochemical techniques and research and development has led to the introduction of two FDA-approved commercial products named rhBMP-2 (INFUSE by Medtronic plc) and rhBMP-7 (OP-1 by Stryker). Growth of the BMP segment is primarily driven by advantages over allograft tissues, which present a potential risk of disease transmission, morbidity, and availability issues, and high cost of commercially available BMP products.

Bone grafts and substitutes are used in various application areas such as spinal fusion, foot and ankle, long bone, dental, joint reconstruction, and craniomaxillofacial procedures. Allografts are majorly used for the treatment of joint reconstruction, spinal, trauma, craniomaxillofacial, and dental procedures. Synthetic bone grafts are majorly used in long bone and spinal fusion procedures. The spinal fusion application segment dominated the global bone grafts and substitutes market in 2014 due to rising geriatric population and increasing global demand for minimally invasive surgeries. However, rising preference for stem cell therapy and other growth factors such as platelet derived factors could hamper the growth of the BGS market during the forecast period.

Key players operating in the global bone grafts and substitutes market include AlloSource, Medtronic plc, Stryker Corporation, Baxter International, DePuy Synthes, Nuvasive, Inc., Wright Medical Group, Zimmer, Inc., and Orthofix Holdings, Inc.

Browse the full Bone Grafts and Substitutes Market (By Type: Allografts, and Bone Graft Substitutes; By Application: Spinal Fusion, Long Bone, Foot and Ankle, Craniomaxillofacial, Joint Reconstruction, and Dental) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 report at http://www.transparencymarketresearch.com/bone-grafts-substitutes-market.html