The Global Market for Bone Graft Substitutes is Projected to Reach US$4.3 Billion by 2024
Rising Prevalence of Orthopedic
Degenerative Diseases & Spurt in Orthopedic Procedures to Drive Growth in
the Global Bone Graft Substitutes Market, According to a New Report by Global Industry Analysts, Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers, market
share, size and demand forecasts on the global Bone Graft Substitutes market. The
global market for Bone Graft Substitutes is projected to reach US$4.3 billion
by 2024, driven primarily by increasing number of patients afflicted by
degenerative diseases of the bone and the growing need for surgical
intervention, advancements in bone graft materials, and development of
innovative products, and rise in dental
surgical procedures.
Bone
Grafts refer to natural or synthetic bones transplanted into the diseased or
damaged site to help promote re-generation of new bone. Bone grafts represent a
treatment/reconstruction option in osteoporotic diseases, trauma induced bone
injuries, fractures, and spinal disorders. An ideal bone graft substitute (BGS)
is structurally similar to bone, biocompatible, osteoconductive, osteoinductive and also cost effective. The
market for bone graft substitutes is primarily driven by rise in number of
joint reconstruction and spinal fusion surgeries, rising awareness among people
about advantages of bone regeneration through biologics and the development of
advanced bone grafts. The market is also being favored by technological changes
that are driving shift from autografts to allografts, and increasing
penetration of synthetic bone grafts.
Market
prospects are also favored by the increasing prevalence of periodontal diseases
and the rising incidence of dental fractures, all of which stimulate the need
for dental bone grafts.
Over
the past few years, the emergence of new bone graft substitutes such as
synthetic bone grafts and demineralized
bone matrices (DBM) has led to increased clinical usage of bone grafts in
surgical procedures. An emerging area of
bone graft substitutes is graft composites, which seeks to incorporate
osteoinductive properties to the existing osteoconductive properties of
synthetic grafts. The development of new polymer and ceramic
technologies is fueling growth in the bone grafts market. Use of
synthetic variants is expected to continue to gain strength in the upcoming
years, driven by multiple factors such as cost-effectiveness and development of
new breeds of synthetic bone grafts featuring biologically superior features, and
characteristics.
As
stated by the new market research report on Bone
Graft Substitutes, the United States represents the largest market,
worldwide Asia-Pacific ranks as the fastest growing market with a CAGR of 11.7%
over the analysis period, led by factors such as an expanding geriatric population coupled
with increase in disposable incomes of middle class and growing
affordability of spinal, knee and hip bone implantation surgeries, trend towards medical tourism, and increase in
adoption of bone grafting techniques in dental implant procedures.
Major
players in the market include AlloSource, Baxter International Inc., DePuy
Synthes Companies, Exactech Inc., Integra LifeSciences Holdings Corporation,
LifeNet Health Inc., Medtronic plc, NovaBone Products LLC, NuVasive Inc.,
Orthofix International N V, RTI Surgical Inc., Smith & Nephew Plc, Stryker
Corporation, Wright Medical Group N.V., Zimmer Biomet Holdings Inc., among
others.
The
research report titled “Bone
Graft Substitutes: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market
estimates and projections for all major geographic markets such as the US,
Japan, Europe (France, Germany, Italy, UK, Spain and Rest of Europe),
Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and
Rest of Latin America) and Rest of World. The US market for Bone Graft
Substitutes is analyzed by the following product segments - Demineralized Bone
Matrix (DBM), Bone Morphogenetic Protein (BMP), Stem Cell Based Bone Grafts,
and Synthetic Bone Grafts.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To
connect with us, visit our LinkedIn page.
Comments
Post a Comment