Bone Graft And Substitute Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 - 2030

Global bone graft and substitute market refers to the market of the products that are used by the orthopedic surgeons that help fixing bones damaged from trauma, or joints problem. The bone grafts product also useful in growing bone around an implanted device and even fill a void where bone is absent or in providing structural stability. The bone graft and substitute products find application in spinal fusion, long bone, foot and ankle, craniomaxillofacial, joint reconstruction and dental surgeries. The evolution of biomaterials such as ceramic and polymer biomaterials, technologies such as use of 3D printing and stem cells have substantially given a boost to the global bone graft and substitute market. The Bone grafts and substitute market is depicted to grow at a CAGR of 4.7% during the forecast period 2022-2030.

Bone graft substitute market is expected to grow at a CAGR of 5.3% during the forecast period of 2022-2030. The bone graft substitutes comprise of synthetic bone grafts, bone morphogenetic proteins (BMP), demineralized bone matrix (DBM) further they can be Ceramic-based bone graft substitutes or polymer based bone graft substitute. The bone graft substitutes market is primarily driven by increasing adoption of bone graft substitutes in the orthopedic surgeries owing to the growing availability of better synthetic bone grafts and their superior advantages in safety and avoiding donor-site morbidity. According to international osteoporosis foundation, osteoporosis leads to over 8.9 million fractures annually. More than 1.6 million hip fractures occur globally every year and it is expected to grow to over 4.5 million by 2050. The high prevalence of osteoporosis and fractures are anticipated to increases the demand of synthetic bone graft materials, extenders and bone substitutes materials by orthopedic surgeon for treating injured muscles or broken bones.

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Dental application of global bone graft and substitute market is expected to grow at a CAGR of 5.3% during the forecast period. The dental application of the bone graft and substitute market is primarily driven due to rising geriatric population across the globe. The elderly population are more prone to tooth decay and opt for dental surgeries. The growing geriatric population generates a requirement for maintenance and possibly replacement of dental or tooth. According to National Institute of Health (NIH), USA, estimates that the total geriatric population across the globe in 2016 was over 656 million. By 2022, global elderly population (65 years and above) is anticipated to reach over 793 million. Further, rising healthcare expenditure globally has also influenced the growth of dental application of bone graft and substitute market.

Asia pacific bone graft and substitute market is projected to grow at the highest CAGR of 5.3% during the forecast period of 2022-2030. Asia Pacific region captured over 22% market share in terms of revenue in the global bone graft and substitute market in 2021. Increasing healthcare expenditure, government initiatives aiding healthcare investments, growing geriatric population, rising volume of orthopedic surgeries and demand for quality healthcare treatment are the primary drivers of bone graft and substitute market in Asia Pacific. The percentage of population in Asia Pacific is bound to reach 60% of the world's total population by 2025. Further, according to US census bureau, Asia Pacific accounts for 55% of world's population with age 65 years and above which is projected to increase to 62% by 2050. With increasing population probability of orthopedic ailments is bound to increase aiding growth in market for bone graft and substitute market for the forecasted period. Moreover, healthcare expenditure across Asia Pacific is anticipated to remain an average 8% per annum of GDP till 2020 according to International Society of Pharmacoeconomic and Outcomes Research (ISPOR).

Product launch is the primary strategy adopted by the companies in the bone graft and substitute market. New and advanced products help to improve company market visibility while competing effectively with the key competitors already present in the market.Merger and Acquisition (M&A) is the secondary strategy adopted by the companies in the bone graft and substitute market. The companies to increase their dominance and market share acquire other companies to increase their product portfolio.Intensity of competitive rivalry for the global bone graft and substitute product market is expected to remain moderate in during the forecasted period of 2022-2030. The global bone graft and substitute market is highly competitive with the presence of many international players. The major companies are engaged in research and development of new bone graft and substitute. Companies are trying to compete by providing the same characteristics with similar features at competitive prices for Bone graft and substitute. Companies are focusing on new product development and collaborative research with research institutes to sustain in the market and strengthen their respective positions in the global market which is also increasing the competition.

KEY MARKET MOVEMENTS

The Bone grafts and substitute market is depicted to grow at a CAGR of 4.7% during the forecast period 2022-2030.
Bone graft substitute market is expected to grow at a CAGR of 5.3% during the forecast period of 2022-2030.
Dental application of global bone graft and substitute market is expected to grow at a CAGR of 5.3% during the forecast period.
Asia pacific bone graft and substitute market is projected to grow at the highest CAGR of 5.3% during the forecast period of 2022-2030.
Asia Pacific region captured over 22% market share in terms of revenue in the global bone graft and substitute market in 2021.
Product launch is the primary strategy adopted by the companies in the bone graft and substitute market.
Intensity of competitive rivalry for the global bone graft and substitute product market is expected to remain moderate in during the forecasted period of 2022-2030.

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