The global bone grafts and substitutes market is all set to develop at a CAGR of 4.3% during the forecast period 2018–2026, as per a new study published by Transparency Market Research. Further, the new research report highlights that the market was valued worth US$ 2.7 Bn in 2017.
The latest report focuses on offering complete overview of the global bone grafts and substitutes market for the forecast period 2018–2026. Thus, it covers huge data and dependable analysis on a wide range of facets such as drivers, restraints, challenges, and growth avenues in the market for bone grafts and substitutes. Apart from this, the report sheds light on present and historical trends in the market.
Bone grafts are utilized for various purposes such as structure restoration, pain relief, and bone regeneration. Traditionally, the main application of autografts was in bone grafting, in which the patient’s own bone was utilized as a graft. For various bone transplant processes, autologous bone grafts are considered a standard.
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However, using autologous bone grafts can result into infection transfer at the time of surgical procedures at tissue harvesting as well as at transplant sites. This scenario can result into prolonged hospital stays owing to delayed wound healing process. Thus to avoid the disadvantages pertaining to the autologous grafts, allografts were launched in the market. Allografts include both osteoconductive and osteoinductive properties. As a result, they are increasingly utilized as a substitute to autografts.
Over the period of past few years, there is noteworthy growth in the technological changes from autografts to allografts. In addition to this, there is remarkable rise in the penetration of tissue-engineered and synthetic bone grafts across major parts of the globe. All these factors are expected to translate into promising growth of the bone grafts and substitutes market in the years to come. In addition to this, the market will gain the advantage of rise in industry standards and growth in demand from customers.
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Players in Bone Grafts and Substitutes Market Strengthen Their Product Portfolio
DePuy Synthes, AlloSource, NuVasive, Inc., Integra LifeSciences, Wright Medical Group N.V., Stryker, Zimmer Biomet, Xtant Medical, Medtronic, and Baxter Healthcare Corporation are some of the key players working in the global bone grafts and substitutes market.
With the presence of many active players, the competition level in the market for bone crafts and substitutes seems to be moderately intense. Thus to sustain in this scenario, market enterprises are utilizing different tactics. Many players in the bone grafts and substitutes market are growing focus toward the introduction of new products and thus strengthening their product portfolio. Several enterprises are indulging into mergers and acquisition activities.
North America Expected to Maintain Dominant Market Position during Forecast Period
Europe, Asia Pacific, North America, Middle East & Africa, and Latin America are some of the key regions for the global bone grafts and substitutes market. Among all geographical regions, North America is expected to maintain its dominant position in the market during the forthcoming years. This growth can be attributed to many factors such as growing awareness among health care providers regarding bone grafts and substitutes, consistent evolution of bone grafts and substitutes, and sturdy health care sector in the region.
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Global Bone Grafts and Substitutes Market Segmentation
The segmentation of the global bone grafts and substitutes market is performed on the basis of various key aspects such as product, end-user, material, and region. Based on product, the market for bone grafts and substitutes is classified into allografts and xenografts. In terms of material, the market is divided into polymer-based, growth factor-based, and ceramic-based. Depending on end-user, the market for bone grafts and substitutes is bifurcated into orthopedic clinics, hospitals, and others.
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