Bone Grafts And Substitutes Market
Number of pages: 100 | Report Format: PDF | Published date: June 15, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.76 billion |
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Revenue Forecast in 2031 |
US$ 4.76 billion |
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CAGR |
6.25% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Material Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global biocompatible material market was valued at US$ 2.76 billion in 2022 and is expected to register a revenue CAGR of 6.25% to reach US$ 4.76 billion by 2031.
Bone Grafts and Substitutes Market Fundamentals
Bone grafts and substitutes play a crucial role in orthopedics, aiding in the healing and regeneration of bone tissues. They are widely used in various medical procedures, including spinal fusion, dental implants, and trauma surgeries. A bone graft is a surgical procedure that involves transplanting bone tissue from one area of the body to another, promoting bone growth and stability. However, advancements in medical technology have led to the development of bone substitutes, which are synthetic materials that mimic the properties of natural bone.
The market for bone grafts and substitutes is witnessing significant revenue growth due to an increase in the aging population more susceptible to bone-related disorders such as osteoporosis and fractures. The rise in sports-related injuries and road accidents has also increased the need for bone grafts and substitutes for effective bone repair. Furthermore, the growing awareness among healthcare professionals and patients about the benefits of these products is also contributing to market expansion.
Market players prioritize research and development efforts to create innovative and technologically advanced products that deliver better performance and biocompatibility. In addition, they establish strategic partnerships and collaborations with hospitals, clinics, and research institutions to expand their reach and tap into a wider customer base. To raise awareness and encourage the adoption of these products, they also implement effective marketing and promotional campaigns and educational programs aimed at healthcare professionals. Market players are employing different tactics to boost their share of the bone grafts and substitutes market. They prioritize research and development efforts to create innovative and technologically advanced products that deliver better performance and biocompatibility. In addition, they establish strategic partnerships and collaborations with hospitals, clinics, and research institutions to expand their reach and tap into a wider customer base. To raise awareness and encourage the adoption of these products, they also implement effective marketing and promotional campaigns and educational programs aimed at healthcare professionals.
Bone Grafts and Substitutes Market Dynamics
The key factor driving the bone grafts and substitutes market is the increasing incidence of bone-related disorders, and injuries such as osteoporosis, arthritis, and bone fractures are becoming more prevalent, particularly among the aging population. According to the National Center for Biotechnology Information's report in 2022, osteoporosis is believed to impact around 200 million women globally. The diagnosis is prevalent among 10% of women who are 60 years old, 20% of women who are 70 years old, 40% of women who are 80 years old, and as much as 66% of women who are 90 years old. Moreover, the increasing number of road accidents, sports injuries, and other trauma cases also contribute to the rising demand for bone grafts and substitutes. These factors will drive the market's growth in the coming years. In addition, technological advancements in the field of bone grafts and substitutes, such as the development of bioactive materials and tissue engineering techniques, are also expected to boost market growth.
Technological advancements in bone grafts and substitutes have significantly impacted orthopedic medicine and provided innovative solutions for bone regeneration and repair. Three-dimensional (3D) printing, also known as additive manufacturing, has revolutionized the field of bone grafts and substitutes. It allows the fabrication of patient-specific implants and scaffolds with intricate geometries and precise architecture. 3D-printed bone grafts can be tailored to match the patient's anatomy, providing an ideal fit and reducing the risk of complications. Additionally, 3D printing enables the incorporation of bioactive materials and growth factors into the scaffold, enhancing its regenerative potential.
The cost of bone grafts and substitutes can be a limiting factor for their widespread adoption. Advanced technologies, such as tissue engineering and 3D printing, can increase production costs, making these products more expensive than traditional grafting techniques. The high cost can pose a barrier to access for some patients, particularly in regions with limited healthcare resources or inadequate insurance coverage.
Market Ecosystem
the global bone grafts and substitutes market is analyzed from the following perspectives: by material type, application, and region.
Bone Grafts And Substitutes Market by Material Type
Based on material type, the global bone grafts and substitutes market is segmented into allograft, synthetic, bone morphogenic proteins (BMP), composites, and polymers.
The allografts segment accounted for 57% of the global bone grafts and substitutes market revenue share in 2022. The segment is again sub-segmented into the demineralized bone matrix and others. This dominance can be attributed to the increasing adoption of allografts in orthopedic surgeries, owing to their effectiveness in promoting bone growth and reducing the risk of infections. Additionally, the rising prevalence of bone disorders such as osteoporosis and osteoarthritis has led to a surge in demand for bone grafts and substitutes, further fueling the growth of the allografts segment. Moreover, advancements in tissue processing techniques and the availability of a wide range of allografts with varying properties have also contributed to the segment's growth.
The synthetic segment is projected to show high revenue CAGR in the global bone grafts and substitutes market. This growth is attributed to the increasing demand for synthetic bone grafts due to their cost-effectiveness and availability. Technological advancements in synthetic bone grafts have also led to improved biocompatibility and osteoconductive, further driving their adoption. The rising prevalence of orthopedic disorders and the growing geriatric population also contribute to the growth of the synthetic bone grafts and substitutes market. Moreover, the increasing number of sports-related injuries and road accidents have led to a surge in demand for bone grafts and substitutes, including synthetic options.
Bone Grafts And Substitutes Market by Application
Based on the distribution channel, the global bone grafts and substitutes market is segmented into spinal fusion, long bone, joint reconstruction, foot & ankle, dental, and craniomaxillofacial.
The spinal fusion segment accounts for 60.29% of the global bone grafts and substitutes market share. This is attributed to the increasing prevalence of spinal disorders and injuries, such as degenerative disc disease and herniated discs. According to the JAMA Network Journal of 2022, Lumbar spinal stenosis is a prevalent condition that impacts around 11% of elderly individuals in the United States. Additionally, advancements in surgical techniques and materials have made spinal fusion procedures more effective and safer, leading to a higher demand for bone grafts and substitutes in this segment. The cervical and lumbar regions of the spine are the most commonly treated areas with bone grafts and substitutes, as they are more susceptible to injury and degeneration.
Bone Grafts And Substitutes Market by Region
Based on the region, the bone grafts and substitutes market are segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounted for 40% of the global bone grafts and substitutes market in 2022. This can be attributed to the high prevalence of bone-related disorders such as osteoporosis and arthritis in the region. According to the Office of Disease Prevention and Health Promotion, it is estimated that in the United States, approximately 10 million individuals who are 50 years of age or older have osteoporosis. While most of these individuals are women, around 2 million are men. Moreover, over 43 million more people, including 16 million men, have low bone mass, increasing their risk of osteoporosis. The growing geriatric population and increasing demand for minimally invasive surgical procedures have also contributed to the market growth. The United States holds the largest share of the North American market due to the presence of well-established healthcare infrastructure and high healthcare expenditure.
The Asia Pacific bone grafts and substitutes market is projected to grow significantly in the forecast years. This growth can be attributed to the increasing prevalence of bone-related disorders such as osteoporosis, osteoarthritis, and bone cancer. The rising geriatric population in the region is also expected to contribute to the market growth. The demand for bone grafts and substitutes is also driven by the growing number of sports injuries and accidents that require bone reconstruction surgeries. Technological advancements in bone grafting procedures and materials are further expected to boost the market growth in the Asia Pacific.
Strategic Development
Bone Grafts and Substitutes Market Competitive Landscape
The bone grafts, and substitutes market is highly competitive and dynamic. The market is dominated by major players such as Medtronic, Stryker, and Zimmer Biomet, who account for a significant market share. These players have a strong presence in the market and offer a wide range of products, including synthetic bone grafts, allografts, and autografts. Additionally, there are several small and mid-sized players in the market who offer niche products and cater to specific segments.
Some of the prominent companies having the largest revenue share in the global bone grafts and substitutes market are,
Bone grafts and substitutes play a crucial role in the field of orthopedics, aiding in the healing and regeneration of bone tissues.
The global bone grafts and substitutes market has been growing steadily. This growth can be attributed to factors such as an increase in the prevalence of bone-related diseases such as osteoporosis and advancements in technology.
The global bone grafts and substitutes market is expected to register a revenue CAGR of 6.25% in the forecast period from 2023 to 2031.
North America dominated the global bone grafts and substitutes market in 2022.
The global bone grafts and substitutes market was valued at US$ 2.76 billion in 2022.
*Insights on financial performance are subject to the availability of information in the public domain