Increasing Adoption of Bone Graft Substitutes in Regenerative Medicine to Bolster Market Growth

Advancements in the medical sector have occurred at a blazing pace over the past couple of decades due to progress in technology and significant rise in research and development. One of the facets of medical science that has offered considerable promise in terms of efficacy of treatment and adoption is bone graft substitutes. Bone graft substitutes are increasingly being used for bone grafting procedures worldwide, and as the number of bone grafting procedures being performed continue to expand, the demand for bone graft substitutes is on the rise. At present, although auto grafts are widely considered as a gold standard for bone substitution, limited availability and morbidity are some of the major factors that are likely to hinder its adoption rate in the upcoming decade, thus affecting the expansion of the bone graft substitutes market.

There are a range of bone graft substitutes that are available, including allografts, synthetic bone grafts, xeno grafts, and auto grafts. Applications of these products vary depending on the nature of the medical condition, costs, efficiency, and type of material in use. Players involved in the current bone graft substitutes market are increasingly focusing on research and development activities to improve the quality of their products, investigate the potential of new materials, and minimize the production costs to gain a competitive edge. Ceramic-based bone graft substitutes are increasingly gaining popularity around the world, and are likely to replace conventional hydroxyapatite (HA) and tri-calcium phosphates particularly in clinical practice.

At the back of these factors, along with increasing prevalence of bone related injuries and medical complications, the global bone graft substitutes market is expected to attain a market value of US$ 3.9 Bn by the end of 2030.

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High Demand Particularly for Spine Fusion to Drive Global Market

The spine fusion surgery has emerged as one of the most widely performed surgeries across the world due to which, the demand for auto graft and allograft has witnessed consistent growth. This trend is expected to continue during the forecast period and most likely accelerate the growth of the global bone graft substitutes market. The favorable properties of bone graft substitutes as bone graft extenders, particularly for posterolater spinal fusion is a major factor that has led to an exponential rise in the adoption of bone graft substitutes for spine fusion.

While the demand for bone graft substitutes for spinal fusion is expected to grow around the world, researchers and medical experts are increasingly focusing on exploring potential applications of bone graft substitutes in the field of regenerative medicine. Due to various factors, including hormonal changes, drugs, and aging, there is a high risk of bone injuries/fractures due to which, autologous bone graft has emerged as an ideal material. However, shortcomings of autologous bone graft substitutes have thereby paved the way for new advancements in terms of bone graft substitute materials. As per current observable trends, bio-ceramics, synthetics, and polymers are gradually garnering considerable interest as an ideal bone graft substitute material– a factor that is expected to propel the global bone graft substitutes market during the assessment period.

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Market Growth to Remain Steady amid COVID-19 Pandemic

The onset of the novel COVID-19 pandemic is expected to have a moderate impact on the overall growth of the global bone graft substitutes market, particularly in 2020. While the demand is anticipated to exhibit a slight decline in comparison with that in 2019, the bone graft substitute market is projected to grow at a steady rate during the COVID-19 pandemic. Despite considerable amount of resources and research being invested by governments on the treatment of COVID-19 patients and finding a vaccine, research and development activities related to bone graft substitutes remained uninterrupted throughout 2020 due to which, innovative and new bone graft substitute products are being developed. Furthermore, the demand for bone graft substitutes, mainly for dental applications post stringent lockdowns in several countries is on the rise due to which. Thus, the bone graft substitutes market is expected to gradually show signs of recovery.

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Analysts’ Viewpoint

The global bone graft substitutes market is expected to grow at a moderate CAGR of ~3% during the forecast period. The market growth will be primarily driven by surge in the number of spinal fusion surgeries worldwide, increase in focus on research and development, onset of new, cost-efficient, and highly effective bone graft substitute materials, and rise in adoption of bone graft substitutes in the regenerative medicine field. Market players should focus on expanding their product portfolio and continue to focus on utilizing materials with improved quality, properties, and functionalities.

Bone Graft Substitutes Market: Overview

  • According to Transparency Market Research’s latest research report on the global bone graft substitutes market for the historical year (2018), base year (2019), and the forecast period (2020–2030), rise in prevalence of bone and joint disorders, technological advancements, 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
  • According to the report, the global bone graft substitutes market was valued at US$ 2.9 Bn in 2019 and is anticipated to expand at a CAGR of ~3% from 2020 to 2030

Rise in Prevalence of Degenerative Joint Diseases to Propel Global Market

  • Growth of the global bone graft substitutes market is expected to be driven by rise in prevalence of degenerative joint diseases
  • Orthopedic injuries are a major health issue in young as well as the geriatric population. Rheumatoid arthritis and osteoarthritis are highly common orthopedic diseases among the geriatric population. In the U.S., osteoarthritis affects nearly 27 million people, out of which 16 million to 20 million are aged between 25 and 74. The chance of developing osteoarthritis of the knee and hip in a lifetime is 45% to 25%, respectively. According to the Arthritis Foundation, 14 million individuals in the U.S. had symptomatic knee osteoarthritis in 2016.
  • According to the Centers for Disease Control and Prevention (CDC), an estimated 67 million people in the U.S. above 18 years of age are expected to be diagnosed with arthritis by 2030

Increase in Geriatric Population to Drive Bone Graft Substitutes Market

  • Risk of spinal injury increases with age. Aging decreases bone mineral density, making the bones porous and more prone to fractures. According to the International Osteoporosis Foundation, around 3.5 million cases of fracture, including spinal fractures and others, occurred in Europe in 2010, and the number is expected to reach 4.5 million by 2030.

High Cost of Surgery to Hamper Global Market

  • Bone graft substitutes are a long-term solution to bone disease treatment; however, these are expensive. No two patients or their customized bone grafts and substitute treatments are exactly alike. Hence, the number of appointments, procedures, and costs vary accordingly. Surgeons charge US$ 35,000 to US$ 40,000 for a complex posterolateral lumbar spine fusion bone graft surgery.

Bone Graft Substitutes Market: Competition Landscape

  • This report profiles major players operating in the global bone graft substitutes market based on attributes such as company overview, financial overview, product portfolio, major brands, business strategies, and recent developments
  • The global bone graft substitutes market is highly competitive, with the presence of prominent players in the international market. The top players hold 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
  • The report on the global bone graft substitutes market discusses individual strategies, followed by company profiles of manufacturers of bone graft substitutes. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global bone graft substitutes market.

Bone Graft Substitutes Market – Scope of the Report

TMR’s report on the global bone graft substitutes market studies the past as well as current growth trends and opportunities to gain valuable insights of the market during the forecast period from 2020 to 2030. The report provides the revenue of the global bone graft substitutes market for the period from 2018 to 2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global bone graft substitutes market for the same period.

The report has been prepared after extensive research. Primary research involved bulk of research efforts, wherein analysts conducted interviews with market leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global bone graft substitutes market.

Secondary research also included Internet sources and statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of top-down and bottom-up approaches to study various phenomena in the global bone graft substitutes market.

The report includes an elaborate executive summary, along with a snapshot of the growth pattern of various market segments included in the scope of the study. Furthermore, the report sheds light on the changing competition dynamics in the global bone graft substitutes market. These indices serve as valuable tools for existing market players as well as new players interested in entering the global bone graft substitutes market. The next section of the report highlights the USPs, which include technological advancement, key industry events (mergers, acquisitions, collaborations, partnerships, etc.), number of bone grafting procedures 2019, pricing analysis for 2019, autologous product advancement, and COVID-19 pandemic impact on bone graft substitutes industry.

The report delves into the competition landscape of the global bone graft substitutes market. Key players operating in the global bone graft substitutes market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players operating in the global bone graft substitutes market profiled in this report.

Key Questions Answered in Bone Graft Substitutes Market Report

  1. What are the major drivers, restraints, and opportunities in the global bone graft substitutes market?
  2. What is the revenue share projection of key segments of the global bone graft substitutes market during the forecast period?
  3. Which segment is likely to lead the global bone graft substitutes market in terms of revenue between 2020 and 2030?
  4. How mergers & acquisitions among players are widening the scope of the global bone graft substitutes market?
  5. What is the market position of different companies operating in the global bone graft substitutes market?

Bone Graft Substitutes Market – Research Objectives and Research Approach

The comprehensive report on the global bone graft substitutes market begins with an overview of the market, followed by the scope and objectives of the study. The report provides detailed explanation of objectives of this study and health care compliances laid down by accredited agencies in the purview of research in the global bone graft substitutes market. It is followed by market introduction, market dynamics, and an overview of the global bone graft substitutes market, which includes TMR’s analysis of market drivers, restraints, and trends pertaining to the global bone graft substitutes market. Furthermore, Y-o-Y growth analysis with elaborate insights has been provided in order to understand the Y-o-Y growth trend of the global bone graft substitutes market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

The report segments the global bone graft substitutes market in terms of product, material, application, end user, and region. Key segments under each criterion have been studied at length and the market share for each segment by the end of 2030 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investments in the global bone graft substitutes market.

Bone Graft Substitutes Market – Segmentation

Product by Application

  • Allografts
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Spinal Fusion
    • Long Bones
    • Others
  • Synthetic Bone Graft
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Spinal Fusion
    • Long Bones
    • Others
  • Xenograft
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Spinal Fusion
    • Long Bones
    • Others
  • Autograft
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Spinal Fusion
    • Long Bones
    • Others
  • Others
    • Craniomaxillofacial
    • Dental
    • Foot & Ankle
    • Joint Reconstruction
    • Spinal Fusion
    • Long Bones
    • Others

Product by End User

  • Allografts
    • Hospitals
    • Clinics
    • Academic & Research Institutes
  • Synthetic Bone Graft
    • Hospitals
    • Clinics
    • Academic & Research Institutes
  • Xenograft
    • Hospitals
    • Clinics
    • Academic & Research Institutes
  • Autograft
    • Hospitals
    • Clinics
    • Academic & Research Institutes
  • Others
    • Hospitals
    • Clinics
    • Academic & Research Institutes

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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

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