Bone Graft Substitute Market | Top key Players- ACE Surgical Supply Company, Inc., BioHorizons IPH, Inc., Dentium Co., Ltd., Dentsply Sirona, Institut Straumann AG, Medtronic plc, Stryker Corporation, Zimmer Biomet

Bone grafting is a restorative surgical procedure involving transplanting of bone tissue to augment or regenerate damaged or lost bones. The global market of bone graft substitute is anticipated to grow to USD 5,031.0 million by the end of the forecast period 2017 to 2027. The market is expected to deliver a CAGR growth of ~ 6.52 %.

Market Dynamics of Global Bone Graft Substitute Market

Drivers

Increase in the demand of bone grafting procedures is the most critical driver of the market. According to the British editorial society of bone & joint surgery, bone is the second most common transplanted tissue after blood with an estimated 2.2 million grafting procedures annually worldwide in 2015.
Rise in risk factors such as increasing cases of fractures and accidents, diseases such as osteoporosis, growing older population, obesity and others. The world health organization (WHO) estimates that between 2015 and 2050, the proportion of the world’s population over 60 years wills nearly double from 12% to 22% and by 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. WHO also states that the pace of population ageing is much faster than in the past and by 2050, 80% of older people will be living in low- and middle-income countries.
Increasing penetration of orthopedic speciality hospitals and healthcare insurance
Growing healthcare penetration and expenditure. According to Centre for Medicare and Medicaid services, Medicare spending grew 4.5% to $646.2 billion in 2015, while Medicaid spending grew 9.7% to $545.1 billion in 2015. Private health insurance spending was found to grow 7.2% to $1,072.1 billion in 2015.

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Restraints

Risk and complications from bone grafting procedures such as pain, blood loss, rejections, infections and others
High cost of bone graft treatment is the strongest constraint. For example, for a cadaver or synthetic bone graft, the average bone graft price is around $400 to $1500 for a single implant exclusive of other charges while Allograft bone graft costs $2500-$5000
High growth of biotech and growing number of startups. According to national venture capital association, Biotechnology industry received the second largest amount of venture capital for the year 2016, and ended with a 17% rise in dollars as compared with the previous year.
The worsening regulatory and reimbursement environment combined with the uncertainty of healthcare reforms has made it more challenging to first obtain marketing approval of new products in US markets.
Segments of Global Bone Graft Substitute Market

Type - auto graft, bone morphogenetic protein, demineralized bone matrix, synthetic bone grafts, and others.

Application - spinal fusion, long bone, joint reconstruction, foot & ankle, dental, and others.

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Geographic  analysis of Global Bone Graft Substitute Market

The US occupies for the largest market share owing to faster uptake of latest technology, and greater health care expenditure, which accounts for 16 % of GDP in 2016. The concentration of major bone graft in the U.S. regions also drives the market.

However the worsening regulatory and reimbursement environment in US markets has worried bone graft manufacturers. Bone graft is classified as Class III devices which require time and effort intensive premarket approval. PMA requires of valid scientific evidence about the probable health benefits from the intended use of a device which must outweigh the probable risks and reasonable evidence to assure that the device will significantly help a large portion of the target population. There has been a slight increase in the days required for clearance of device by the FDA due to increased strictness regarding clinical evidence and testing requirements which has lengthened the time and path to clearance.

Europe holds the second position in the global market led by Germany and France. Asia Pacific region is anticipated to deliver the fastest growth led by Japan, China and India. The African region is anticipated to generate a lower single digit growth because of poor healthcare penetration, socio- economic conditions and other factors.

Major Market Players

BioHorizons IPH, Inc., Dentsply Sirona, ACE Surgical Supply Company, Inc., Dentium Co., Ltd., Zimmer Biomet,  Institut Straumann AG, Stryker Corporation, Medtronic plc, and others.

Current industry trends and developments

Xenografts, and synthetic bone grafts are expected to be the fastest growing segment and will reduce the market share of Autograft which has been the grafting gold standard
Synthetic materials such as hydroxyapatite are devoid of organic and biological agents, which hinder osteoconduction, osteoinduction and osteogenesis. Thus, recombinant DNA technology is being pressed into use to eliminate these drawbacks by mixing these materials with growth factors to enhance grafts and stem cell-based auto grafts. The greater use of biotechnology is expected to increase the characteristics of synthetic bone graft such as osteoconduction, osteoinduction and osteogenesis etc.

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