Bone Grafts – A Major Step Towards Regenerative Medicines
Rise in trauma cases are responsible for accelerating growth of the global bone grafts and substitutes market
Bone grafting is majorly performed in cases of sinus lift, ridge augmentation, fracture repair, nerve repositioning, and dental implantation. Bone damage is majorly attributed to rising incidence of trauma and accident cases across the globe. According to the Centers for Disease Control and Prevention (CDC), around 2.5 million people were hospitalized in the U.S. in 2014, due to accident injuries, indicating high risk of bone damage. This in turn, increases the demand for bone grafts and substitutes. The potential ability of bone grafting to repair the damage using natural mechanism can thus, be helpful and incorporated for bone healing procedures. Moreover, the National Trauma Institute in 2014, revealed that economic burden due to trauma cases increased to US$ 671 billion, including healthcare costs and lost productivity costs. Among geographical regions, North America contributes the maximum share in the bone grafts and substitutes market, owing to the increasing research and development activities in the field of bone grafting, which results in development of innovative bone grafts in the region. For instance, Artoss, Inc., a U.S.- based company introduced a complete line of bone grafts in 2017, which incorporates use of nanotechnology in the production of these grafts. Various other factors such as presence of key operating players and collaborative partnerships among the players are responsible for positioning North America as the largest market for bone grafts and substitutes. On the other hand, Asia Pacific is expected to gain significant traction, owing to the rise in medical tourism as well as development of novel bone graft substitutes by regional players, exhibiting equivalent efficiency at affordable prices.
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The global bone grafts and substitutes market was valued at US$ 2,640.1 million in 2016 and is expected to witness a robust CAGR of 5.5% over the forecast period (2017 - 2025).
Consistent development resulting in innovative bone grafting products expected to propel growth of the market
A large number of players are focused on the development of novel products for bone grafting. For instance, in May 2017, the National Chemical Laboratory in India, developed two novel bone graft substitutes that are aimed towards augmenting and regenerating the bones that are lost during accident or injuries. The products are now in clinical trial phase for performance testing and are expected to be available in prices lesser than the currently available imported varieties of the same, leading to emergence of local players in the Asia Pacific market. Moreover, companies are also entering into mergers and acquisitions to strengthen their position in the market. For instance, Kuros Biosciences acquired Xpand Biotechnology in 2016, wherein Kuros will use Xpand’s granular formulation for the production of novel bone graft substitutes. Major players operating the global bone graft and substitutes market include Ace Surgical Supply Co., Inc., NovaBone Product LLC, Medtronic Plc, Stryker Corporation, Zimmer Biomet Holdings, Inc., BioHorizons Implant Systems, Inc., Novadip Biosciences, Orthofix International N.V., Globus Medical, Inc., and Bone Therapeutics SA.
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