Bone Grafts and Substitutes Market Size to Reach $3,362.6 million by 2028 | Medtronic Plc., NuVasive Inc., Stryker Corporation, Xtant Medical Holdings Inc.

Allied Market Research recently published a report, titled, “Bone Grafts and Substitutes Market by Type (Allograft, Bone Graft Substitutes, and Cell-based Matrices) and Application (Spinal Fusion, Trauma, Craniomaxillofacial, Joint Reconstruction, and Dental Bone Grafting) - Global Opportunity Analysis and Industry Forecast, 2020-2028”

According to the report, the global bone grafts and substitutes market was pegged at $2,652.6 million in 2020 and is expected to reach $3,362.6 million by 2028, registering a CAGR of 4.3% from 2021 to 2028.

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Rapid development of novel bone grafts materials such as biocompatible synthetic bone grafts and rise in prevalence of bone and joint disorders are the major factors driving the growth of the global bone grafts and substitutes market. Moreover, surge in the number of patients suffering from rheumatoid arthritis, osteoarthritis, and other joint disorders have supplemented the market growth. However, high cost of surgeries and several ethical issues associated with bone grafting procedures have hampered the market development. On the contrary, increasing inclination of key market players toward R&D activities and surge in demand for orthopedic procedures among geriatric population would provide lucrative opportunities for the market leaders in the coming years.

Cost-effectiveness of cell-based matrices to accelerate the market growth

The cell-based matrices segment would grow at the fastest CAGR of 6.1% through 2025, as they offer better reproducibility, and cost-effectiveness compared to the other product types available in the market. However, the bone grafts substitutes segment would dominate the market through 2025, capturing more than half of the total market revenue during the study period. In addition, the allografts segment would show gradual growth during the forecast period.

Major applications of bone grafts and substitutes

The report offers an in-depth analysis of the various applications of bone grafts and substitutes, including spinal fusion, trauma, joint reconstruction, dental bone grafting, and craniomaxillofacial. The spinal fusion segment dominated the global bone grafts and substitutes market in 2017 and is expected to hold the largest share in the global market through 2025, contributing about 45%. However, the joint reconstruction segment would witness the fastest CAGR of 6.2% through 2025, owing to rise in demand for joint reconstruction among patients suffering from rheumatoid arthritis, osteoarthritis, and other joint disorders.

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Asia-Pacific to be fastest-growing, North America to generate highest revenue

By region, the bone grafts and substitutes market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America held the leading position in the global market in 2020, and is expected to maintain its lead throughout the analysis period. This is primarily due to the rise in incidences of spinal fusion and joint reconstruction procedures, sedentary lifestyle contributing to joint disorders in the geriatric and younger population, and favorable reimbursement rates in the region.

Key market players

The leading companies in the global bone grafts and substitutes market include Medtronic plc, DePuySynthes, Wright Medical Group N.V., Xtant Medical Holdings, Inc. (Bacterin), Baxter International Inc., Stryker Corporation, Integra Lifesciences Holdings Corporation, Zimmer Biomet Holdings, Inc., Arthrex, Inc., and Musculoskeletal Transplant Foundation (MTF).

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