Press release
Bone Graft Substitute Market – The 3O’s of the market, osteoconduction, osteoinduction and osteogenesis
Bone grafting is a restorative surgical procedure carried out fix facture bones and bone injury. Bone grafting involves transplantation of bone tissues to augment and regenerate bones. Bone grafts substitutes are implantable materials which promote bone healing and formation, and osseous reconstruction due to its osteoconductive, osteogenic, and osteoinductive properties.Market dynamics of Global Bone Graft Substitute Market
The marker for bone graft is rising because of factors such as increase in in incidence of bone & joint disorders such as osteoporosis, rising cases of trauma and accidents, increased usage of the bone graft substitutes in the field of dentistry, rising demand of restorative procedures and others. However technological advancements in bone grafting products and surgical procedures such as development of biocompatible and bio-absorbable synthetic bone grafts and substitutes are prime drivers of the market. The economic drivers of the market include the rising incomes of the population around the world.
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The market constraints are high cost of surgeries, ethical issues related to bone grafting, high rates of rejection of bone graft substitutes, poor infrastructure in developing and underdeveloped regions, threat of hypersensitive reactions, which can be life threatening, poor structural strength of some biocompatible substitutes as compared to natural tissue etc. which hamper the market growth. Conversely, increase in focus of key players towards R&D activities in bone grafts and its substitutes and upsurge in demand for orthopaedic procedures among geriatric population are expected to provide lucrative opportunities for the market players in the future.
The rising geriatric population especially the baby boomers are the demographic factors for the rise in demand of bone graft substitute market. According to world health organization, the number of people over the age of 60 years is expected to double till 2040. Thus a huge market opportunity awaits, which needs to be tapped as well as cashed!
Key development of the Global Bone Graft Substitute Market
Autografts have been historically the gold standards for grafting purposes. However we expect this lead to deteriorate in favour of synthetic bone graft substitutes due to the larger surgical foot print of autograft procedure. The growing demand for minimal invasive surgery is a critical factor which is expected to make a dent in the dominance of autografts. Development of biocompatible and bio absorbable materials with superior adhesion and conduction properties, mirroring the natural tissues is another critical factor which is expected to drive the growth of xenografts. However the market is also expected to favour the development of bone graft substitutes manufactured by synthetic raw materials over the natural and biological raw materials due to the presence of impurities and threat of a biological adverse reaction. Synthetic raw material such as hydroxyapatite are devoid of organic and biological agents and thus are expected to make synthetic xenografts the fastest growing segment of the bone graft market.
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Thus, product development strategy trumps all other strategies as the bone graft market favours performance over cost. Thus technologically advanced players are expected to maintain an edge over other players. Stem cell based auto grafts seem to be the future of the market as these have all the benefits of auto grafts devoid of their drawbacks. The growing number of stem cell banks will be complimentary of the bone graft substitute market. Thus, greater use of biotechnology is expected to benefit the market due to development of bone graft mirroring the characteristics of biological tissue.
Considering all these factors, the global market of bone graft substitute is expected to reach $ 5,031.0 million by the end of 2027, this market is projected to grow at a CAGR of ~ 6.52 % during the forecast period 2017-2027.
Segments of the Global Bone Graft Substitute Market
The global bone graft substitute market has been segmented on the basis of type and application. Based on type, the market has been segmented as autograft, demineralized bone matrix, synthetic bone grafts, bone morphogenetic protein, and others. Based on the application, the market has been segmented as a spinal fusion, joint reconstruction, long bone, dental, foot & ankle, and others.
Key Players in the Global Bone Graft Substitute Market
Some of key players profiled in the report are ACE Surgical Supply Company, Inc., BioHorizons IPH, Inc., Dentium Co., Ltd., Dentsply Sirona, Institut Straumann AG, Medtronic plc, Stryker Corporation, Zimmer Biomet and others.
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Regional analysis of the Global Bone Graft Substitute Market
Americas accounted for the largest market share in 2016, and is projected to grow at a CAGR of 6.1% during the forecast period. The U.S. accounts for the significant market share due to extensive and faster uptake of technology and greater expenditure on health care. The concentration of the major medical device manufacturers in the developed regions is also adding fuel to the market. Europe is the second largest market due to a high disposable income and rising awareness regarding bone graft substitutes. Germany is expected to dominate the European region due to its large medical device companies. Europe was the second-largest market in 2016 and is projected to grow at a CAGR of 6.76%. Asia Pacific region is expected to grow rapidly and is estimated that China and India will lead the market. However japan is the largest market for the Asia Pacific region due to its highly developed healthy system. Asia Pacific is projected to show the fastest growth at the CAGR of 6.85% during the forecast period 2017-2027. Gulf nations, particularly, Saudi Arabia and UAE drives the Middle East & African market. The African region is expected to witness a moderate growth owing to poor economic and political conditions, and poor healthcare penetration.
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