Bone Grafts and Substitutes Market Outlook 2028

·         The global bone grafts and substitutes market was valued over US$ 3 Bn in 2020

·         It is estimated to expand at a CAGR of 4.9% from 2021 to 2028

·         The global bone grafts and substitutes market is expected to cross the value of US$ 4.4 Bn by the end of 2028

Increase in Demand for Bone Grafts Due to Rise in Dental Treatments Globally

The rising importance of dental treatments has also generated new opportunities for the global bone grafts and substitutes market. Fractures in and around the dental cavity have created several opportunities for vendors operating in the global bone grafts market. Investments in dental technologies and aids have increased over the past decade. This is carried out to ensure that the unmet needs of the medical industry can be addressed by means of providing premium dental treatments. Rise in prevalence of chronic bone diseases, technological advancements, increase in patient awareness and healthcare expenditure, and growth in need of the treatment of complex bone diseases are major factors driving the market. Industries comprised of the value chain put sharp focus on factors that bone grafts and substitutes are easy to use, safe, and cost-effective. Advancements made in autologous bone grafts are key trends boosting the bone grafts and substitutes market.

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 North America Dominates Global Bone Grafts and Substitutes Market

North America is expected to account for the largest share of the global bone grafts and substitutes market during the forecast period. Some of the factors responsible for the rapid expansion of the market are growth and advancement in healthcare sector, rise in awareness among healthcare providers about bone grafts and substitutes, and continuous evolution of advanced products.

North America is an attractive region of the market, in terms of revenue. Rise in government initiatives and laws regarding usage of bone graft & substitutes and increase in population drive the bone grafts and substitutes market in the region. Technological advancements and increase in adoption of advanced bone grafts and substitute products are expected to propel the bone grafts and substitutes market in Asia Pacific, Latin America, and Middle East & Africa during the forecast period.

Advancements in Materials Used for Bone Grafts and Substitutes

Technological developments in developing improved bone grafts are projected to drive the global market in the upcoming years. The focus on treating injuries in bones and joints is the foremost driver of demand within the global bone grafts and substitutes market. The advent of a number of biological products such as autologous, allogenic, and synthetic for generation bone grafts is a key factor transforming the landscape of modern fracture care and bone loss. Each is being evaluated for restorative capacity and regenerative abilities. The clinical choice depends on the purpose at hand. Some of the applications where the demand opportunities have increased in the bone grafts and substitutes market are in spine fusion, long bone fracture, open-wedge tibial osteotomy, oral and maxillofacial surgery, and periodontal treatments. An attractive immunogenicity profile has boosted the popularity of these in clinical parlance.

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 Impact of COVID-19 on Bone Grafts and Substitutes Market

The global bone grafts and substitutes market is negatively affected by the rapid spread of COVID-19 across the globe. Prolonged lockdown and increase in patient number affected by coronavirus put tremendous pressure in healthcare sector. Most of the elective surgeries and were postponed or canceled during the pandemic. This has resulted in decreasing the demand for devices required for orthopedic surgeries, including bone graft and substitutes. Halted manufacturing activities across the globe have led to decrease the production of the devices. Manufacturers operating in the global bone grafts and substitutes market are overcoming this challenging situation by focusing on innovative approach.

The COVID-19 pandemic has been instrumental in creating new paradigms in businesses across industries, most notably the healthcare industry. Lockdowns have to an extent caused roadblocks to R&D activities in biological products such as bone grafts and substitutes. With economies opening up and people becoming more aware about following precautions, the demand for surgeries has also risen in recent months. This has boosted the bone grafts and substitutes market. Bone grafts have helped several patients in recovering from critical conditions.

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 Bone Grafts and Substitutes Market: Overview

·         Bone grafts have been used for bone regeneration, structure restoration, and pain relief for decades

·         Conventionally, autografts were used for bone grafting, wherein the patient’s own bone was used as a graft. Autologous bone grafts are considered gold standard for bone transplant. However, usage of autologous bone grafts involves the risk of infection transfer during surgical procedures at both tissue harvesting and transplant sites. This could result in delayed wound healing and prolonged hospital stays.

·         Hence, allografts were introduced in the market to overcome the disadvantages associated with autologous grafts

·         Allografts possess both osteoinductive and osteoconductive properties, and hence, serve as a substitute for autografts. Ready availability of allografts in various shapes and sizes that can be processed in various forms such as chips as per the requirement is likely to fuel the growth of the allografts segment during the forecast period.

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Rise in Demand for Innovative Technologies: Major Driver

·         Increase in government initiatives and laws on usage of bone graft & substitutes, and rise in population drive the global bone grafts and substitutes market

·         Technological advancements and increase in adoption of advanced bone grafts and substitute products are expected to propel the bone grafts and substitutes market in Asia Pacific, Latin America, and Middle East & Africa during the forecast period

Bone Grafts and Substitutes Market: Segmentation

·         The global bone grafts and substitutes market has been segmented based on product, material, end-user, and region

·         In terms of product, the global market has been classified into allografts, synthetic bone grafts, and xenografts. The allografts segment has been bifurcated into demineralized bone matrix (DBM) and others.

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·         Based on material, the global bone grafts and substitutes market has been categorized into ceramic-based, polymer-based, growth factor-based, cell-based, and others. The ceramic-based segment has been segregated into calcium phosphate, calcium sulfate, and others. The polymer-based segment has been divided into polylactides, polyglycolides, polyurethanes, and others. Cell-based bone grafts and substitutes are gaining popularity. The cell-based segment is projected to expand at a high CAGR during the forecast period.

·         In terms of end-user, the global bone grafts and substitutes market has been split into hospitals, orthopedic clinics, and others. The hospitals segment is likely to dominate the global market during the forecast period due to rise in prevalence of various chronic bone diseases.

North America to Dominate Bone Grafts and Substitutes 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 is projected to dominate the global market during the forecast period, accounting for 53.10% share by 2028. The segment is anticipated to reach US$ 2,355.44 Bn by 2028.

·         The U.S. dominated the market in North America in 2020 due to adoption of new technologies such as next generation sequencing along with higher awareness, significant healthcare spending in overall national budgets, early availability of advanced technologies, and higher penetration of research activities across the country

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·         Rise in government initiatives and laws regarding the usage of bone grafts & substitutes and increase in population drive the bone grafts and substitutes market in the region

Major Players

·         Key players operating in the global bone grafts and substitutes market include AlloSource

o    DePuy Synthes

o    Integra LifeSciences

o    NuVasive Inc.

o    Stryker

o    Wright Medical Group N.V.

o    Xtant Medical

o    Zimmer Biomet

o    Baxter Healthcare Corporation

o    Medtronic

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