The global bone graft and substitutes market is expected to reach over USD 3.6 billion by 2024,
growing at an estimated CAGR of 5.2% from 2016 to 2024, according to a new
study by Grand View Research, Inc. Key drivers of the market include the
growing elderly population and the resultant rise in orthopedic surgeries
coupled with the perpetually rising awareness regarding the benefits of
commercially available synthetic substitutes.
Moreover, the bone
grafts and substitutes market is witnessing positive growth owing to the
escalating number of road accidents resulting in fractures and other bone
injuries across the world. For example, Association for Safe International Road
Travel stated that every year 20 to 50 million people get injured or are
disabled due to road accidents. The association also predicts that with no
preventive steps taken injuries stemming from road accidents would become the
fifth leading cause of death by 2030. Considering the above-mentioned factors,
rising number of road accidents are anticipated to boost the demand for BGS
during the forecast period.
However, risks such as
immune response and disease transmission are the major factors challenging the
growth of the global BGS market. In addition, the stringent regulatory approval
process coupled with the high cost of the advanced products is another significant
deterrent for the market growth.
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Further key findings from the study suggest:
·
Allograft segment accounted for the largest
revenue share in 2015. Availability of allografts in different shapes and sizes
catering to varied surgical needs of patients is the prime factor analyzed to
propel the growth of the segment.
·
Continual efforts to develop improved
allografts such as demineralized bone matrix grafts with greater
osteoconductive and osteoinductive capabilities are anticipated to have a
positive impact on the growth of the segment during the forecast period. Thus,
this segment is anticipated to grow at the fastest CAGR of 4.6% from 2016 to
2024.
·
Utilization of BGS was observed to be the
highest in spinal fusion surgeries among other applications. Increased demand
for spinal fusion surgeries owing to the surging geriatric population coupled
with the demand for minimally invasive surgeries is the foremost factor
spurring the demand for BGS in spinal fusion surgeries.
·
Rapidly booming dental tourism industry and
relatively low cost of the surgeries are some of the key factors propelling the
growth of the dental application segment; which is to grow at the fastest CAGR
during the forecast period.
·
North America was leading the global BGS
market in 2015. Dominance of North America was majorly attributed to high
awareness regarding commercially available products, greater healthcare
expenditure, and the availability of advanced infrastructure.
·
Emerging countries, such as China, Brazil,
and Mexico, are projected to exhibit significant growth from 2016 to 2024. The
soaring medical tourism industry offering advanced medical services at an
affordable cost is the major factor expected to fuel the growth of the BGS
market in these countries.
·
Several small as well as big players are
operating in this sector. Few global players operate in various geographies
through subsidiaries and a broad distribution network.
·
Key players of this market include but are
not limited to Baxter, Medtronic, Stryker Corporation, Orthofix Holdings, Inc.,
AlloSource, DePuy Synthes, NuVasive, Inc., Wright Medical Group N.V., Smith
& Nephew, Inc., and Orthovita, Inc.
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Grand View Research has
segmented the bone grafts and substitutes market on the basis of materials,
application, and region:
By Material
·
Natural
·
Autografts
o Allografts
o Demineralized Bone Matrix (DBM)
o Others
·
Synthetic
o Ceramic
o Composite
o Polymer
o Bone Morphogenetic Proteins (BMP)
By Application
o Craniomaxillofacial
o Dental
o Foot and Ankle
o Joint Reconstruction
o Long Bone
o Spine Fusion
By Region
·
North America
o U.S.
o U.S. Market, by Material
o U.S. Market, by Application
o Canada
o Canada Market, by Material
o Canada Market, by Application
·
Europe
o Germany
o Germany Market, by Material
o Germany Market, by Application
o UK
o UK Market, by Material
o UK Market, by Application
·
Asia Pacific
o Japan
o Japan Market, by Material
o Japan Market, by Application
o China
o China Market, by Material
o China Market, by Application
·
Latin America
o Brazil
o Brazil Market, by Material
o Brazil Market, by Application
·
MEA
o South Africa
o South Africa Market, by Material
o South Africa Market, by Application
View
Press Release of this research report by Grand View Research : http://www.grandviewresearch.com/press-release/global-bone-grafts-substitutes-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
