Bone Grafts and Substitutes Market Size willm

Bone Grafts and Substitutes Market Size will Grow at CAGR of 4.3% through 2026

Transparency Market Research (TMR) has published a new report
titled ‘Bone Grafts and Substitutes Market - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast, 2018–2026.’ According to the report, the global bone grafts
and substitutes market was valued at US$ 2.7 Bn in 2017. It is
projected to expand at a CAGR of 4.3% from 2018 to 2026. Factors such as rapid
technological changes from autografts to allografts and penetration of
synthetic and tissue-engineered bone grafts are propelling the growth of the
bone grafts and substitutes market. Moreover, an increase in demand from
customers and rise in industry standards are spurring the global bone grafts
and substitutes market. North America and Europe are projected to dominate the
global bone grafts and substitutes market, owing to a higher rate of adoption
of and awareness regarding bone grafts and substitute products. Asia Pacific,
Latin America, and Middle East & Africa are regions with high potential for
the bone grafts and substitutes market. The market in Asia Pacific is expected
to expand at a CAGR of 5.0 % from 2018 to 2026. 

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Cost-effective Bone Grafts and
Substitutes That Treat Complex Disorders to Drive Global Market

Increase in
the number of cases of various bone disorders across the globe drives the bone
grafts and substitutes market. According to the International Osteoporosis
Foundation, the global incidence of fractures is anticipated to increase by
240% in women and 310% in men by 2050. This is likely to increase the number of
bone graft surgery procedures, consequently propelling the global bone grafts
and substitutes market. Based on product, the global bone grafts and
substitutes market has been categorized into allografts, synthetic bone grafts,
and xenografts. The allograft segment has been further divided into
demineralized bone matrix (DBM) and others. 

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Ceramic-based Bone Grafts and
Substitutes to be a Highly Lucrative Segment

In terms of
material, ceramic-based is an emerging segment of the bone grafts and
substitutes market. The segment is likely to hold a major market share, due to
a rise in the adoption of technologically advanced products by surgeons. The
cell-based segment is likely to expand at a significant CAGR. This is because
cell-based assays are relatively easy to use, reproducible, inexpensive, and do
not involve the suffering of animals. Moreover, cell-based bone graft
substitutes are easily adopted by body and have shown potential results. 

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Hospitals to be a Promising Segment

In terms of
end-user, the global bone grafts and substitutes market has been categorized
into hospitals, orthopedic clinics, and others. The hospitals segment held a
major share of the global market in 2017. Expansion of the segment can be
attributed to the availability of multiple service options and devices and
tie-ups with health care companies in order to enhance health care products and
service offerings. Moreover, hospitals are the preferred choice for patients
due to the availability of advanced technology and better health care services.
The orthopedic clinics segment is expanding at a high growth rate, especially
in developed economies, due to a rise in the geriatric population and the
development of health care infrastructure and support. A rise in demand for
bone grafts and substitutes in orthopedic clinics during medical emergencies is
projected to drive the segment. 

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North America Expected to Dominate
the Global Market

In terms of
region, the global bone grafts and substitutes market has been segmented into
North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. North America dominated the global bone grafts and substitutes market
in 2017. In terms of revenue, the market in North America was valued at US$ 1.6
Bn in 2017.This is due to a highly developed health care sector, increase in
awareness among health care providers about bone grafts and substitutes, and
continuous evolution of bone grafts and substitutes. This region offers
significant opportunity to the bone grafts and substitutes market. The market
in Asia Pacific is anticipated to expand at a CAGR of 5.0% during the forecast
period. The market in Asia Pacific is likely to be driven by factors such as a
rise in the ability of patients to pay for treatment, increase in medical
tourism due to low cost of synthetic bone grafts in the region, and a rapidly
increasing geriatric population. Moreover, expansion of the health care sector
in countries such as China, Japan, and India offers significant potential to
the market in the region. Additionally, technological advancements and increase
in the rate of adoption of bone grafts and substitutes products are expected to
propel the market in the region during the forecast period. 

GE Healthcare and Koninklijke
Philips N.V. Anticipated to Lead the Global Market

The global
bone grafts and substitutes market is highly fragmented. A number of players
provide different products. Key players in the global bone grafts and
substitutes market include AlloSource, DePuy Synthes, Integra LifeSciences,
NuVasive, Inc., Stryker, Wright Medical Group N.V., XTANT MEDICAL, Zimmer
Biomet, Baxter Healthcare Corporation, and Medtronic. Expansion of the product
portfolio through mergers and acquisitions is a key strategy followed by
several global players.

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