The Bone Grafts and Substitutes Market was valued at around USD 3 Billion in 2021. With a projected CAGR of 7.1% for the next ten years, the market is likely to reach a valuation of nearly USD 6.3 Billion by the end of 2032. The recent surge in demand for allografts has triggered the demand for Bone Grafts and Substitutes.
| Attribute | Details |
|---|---|
| Bone Grafts and Substitutes Market Size (2021A) | USD 3 Billion |
| Bone Grafts and Substitutes Market Size (2022E) | USD 3.2 Billion |
| Projected Market Value (2032F) | USD 6.3 Billion |
| Global Market Growth Rate (2022 to 2032) | 7.1% CAGR |
| Share of Top 5 Countries | 67.35% |
| Key Companies Profiled | Allosource; DePuySynthes Inc.; Baxter; NuVasive Inc.; Smith & Nephew; Medtronic; Orthofix Holdings Inc.; TBF Tissue Engineering; Stryker Corporation; OrthoFix Medical Inc.; MedBone Biomaterial; SeaSpine |
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The global market for Bone Grafts and Substitutes expanded at a CAGR of 6.7% from 2015 to 2021. The market growth is projected to benefit from new product launches coupled with increasing requirements for dental bone grafts resulting in expanding product portfolios of key players shaping the Bone Grafts and Substitutes Industry.
The global Bone Grafts and Substitutes market is predicted to surge ahead at a CAGR of 7.1% and record sales worth USD 6.3 Billion by the end of 2032. The USA will continue to be the largest market throughout the analysis period accounting for over USD 1.1 Billion absolute dollar opportunity in the coming 10-year epoch.
The Bone Grafts and Substitutes Market is expected to grow during the forecast period owing to the fact that the global geriatric population is set to see a substantial increase during the forecast period. Data issued in 2020 by the U.N. of the total world populace, 727 Million accounted for the geriatric population.
Taking into account, a 2020 article by NCBI, it is estimated that hip fractures incidences around the globe will see an increase to reach approximately USD 4.5 to USD 6.5 million by 2050, leading to a benefit in the joint reconstruction, long bone, and spinal fusion deployment mode of the Bone Grafts and Substitutes Market during the forecast period.
Furthermore, a 2018 NCBI study states that lumbar spinal fusion surgeries saw an accelerated growth of 26 per 100,000 adults, further proving to be advantageous for the Bone Grafts and Substitutes Market.
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Growth in the medical tourism of the region owing to the cost-effectiveness of synthetic bone grafts, and healthcare improvements in the economies of China, Japan, and India are some of the key factors responsible for the growth of the Bone Grafts and Substitutes Market in Asia-Pacific.
Especially in the developing economies of India and China, there is set to be significant growth in dental medical tourism owing to the cost-effectiveness of the dental segment by deployment mode of the Bone Grafts and Substitutes Market. Thus, during the forecast period, the market is expected to surge in the two countries.
The Bone Grafts and Substitutes Market is set to witness a CAGR of 9% in China to reach a market value of USD 475.5 Million by the end of 2032. The market in APAC additionally envisions the positive impact of technological advancements by key market players.
Medtronic with its launch of Grafton DBM, gave Japan its first-ever DBM in February 2019, thus opening greater avenues of market growth in the country. This is thus a substantial aid to the projected 9.2% CAGR that Japan envisioned for reaching a revenue of USD 367.8 Million by the end of the forecast period.
Moreover, The National Chemical Laboratory of India, in May 2017, succeeded in developing two new bone graft substitutes, namely PoroSyn and SynOst with the aim of augmentation and regeneration against bone loss due to a disease, injury, or an accident. Owing to all these factors, Asia-Pacific is forecasted to be a lucrative region for the Bone Grafts and Substitutes Market in the forthcoming years.
The North American region accounts for approximately more than 40% of the market share and is expected to maintain its position in the Bone Grafts and Substitutes Market intact during the forecast period. The key reason for the growth of the Bone Grafts and Substitutes Market in North America is the growing requirement for dental bone grafts.
Taking into account, a report published in the American Dental Association, implant surgeries, as of 2019, have a recorded 95% to 98% success rate proving to be advantageous for the Bone Grafts and Substitute market due to their assured results of the products.
In the USA, around 5 million dental implant surgeries are completed annually on average. These surgeries, require bone-grafting preceding the implants due to their significant assistance in correct jaw placement, leading to better results. Hence, the market in North America is projected to reach significant value during the forecast period.
Expanding at a substantial CAGR of 6.9%, the Bone Grafts and Substitutes Market in the USA is forecasted to witness an absolute opportunity growth of USD 1.1 Billion during the 10-year epoch to reach market revenue of USD 2.4 Billion by the end of 2032.
Growing incidences of joint disorders and sports injuries are some of the factors responsible for the growth of the Bone Grafts and Substitutes Market in the USA during the forthcoming forecast years. The National Spinal Cord Injury Statistical Center, USA has documented an average of 17,810 new spinal cord injury (SCIs) cases in the country.
Surgeries involving bone grafts and related substitutes are the prevalent norm in the country for SCIs treatments. Hence, this is among the key factors responsible for an increase in Bone Grafts and Substitutes revenue during the forecasted years.
The Centers for Disease Control and Prevention (CDC), anticipates that by 2030, around 67 Million people above 18 will be diagnosed with arthritis leading to an increase in the demand for bone grafts owing to their importance in arthritis treatment.
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The Allograft segment of the Bone Grafts and Substitutes Market is projected to witness a CAGR of 7% hence generating a bulk of the revenue to benefit the market. This segment finds extensive use in demineralized bone matrices (DBMs).
The associated benefits of avoiding donor-site morbidity decreased operating and rehabilitating time, better safety, and diverse availability pertaining to sizes are some of the factors that aid in the positive impact of Allografts on the Bone Grafts and Substitutes Market.
Furthermore, a 2021 report by the International Osteoporosis Foundation accounts that 8.9 million fractures associated with osteoporosis occur in a year on average. Among the common prevalent treatments for this degenerative bone disease is the application of allografts, thereby increasing the growth opportunities for the Allograft material type of the Bone Grafts and Substitutes Market.
The Spinal Fusion segment of the Bone Grafts and Substitutes Market is expected to witness a CAGR of 6.9% during the forecast period. The rise in spinal fusion deployment may be a direct impact of the increasing adoption of bone grafts in spondylosyndesis. The growing necessity of bone grafts and substitutes is also enhanced by the consistent increase in cases of spinal deformities.
Taking into account the data from a 2017 CDC report, around 60% of the aged population and 32% of the adult population in the USA were suffering from spinal deformities, owing to the spike in the geriatric population. This number is projected to further increase during the forecast period.
Even in developing countries like India, around 20,000 spinal cord injury (SCIs) cases are added annually, leading to greater demand for bone grafts and substitutes in spinal fusion.
Allosource, DePuySynthes Inc., Baxter, NuVasive Inc., Smith & Nephew, Medtronic, Orthofix Holdings Inc., TBF Tissue Engineering, Stryker Corporation, OrthoFix Medical Inc., MedBone Biomaterials, SeaSpine are among the key players driving the competitive landscape of the market.
To expand their product portfolio and simultaneously capitalize on the growing market demand, many of these companies are adopting strategies such as mergers, acquisitions, and partnerships. The key market players are also increasing funding for various technological developments and associated research with the aim of gaining a competitive edge.
The key recent developments of Bone Grafts and Substitutes manufacturers are as follows:
The Bone Grafts and Substitutes Market is segmented based on material type, deployment mode, and region.
The Bone Grafts and Substitutes Market was valued at USD 3 Billion in 2021.
The Bone Grafts and Substitutes industry is set to witness a growth rate of 7.1% over the forecast period and be valued at USD 6.3 Billion by 2032.
Allosource, DePuySynthes Inc., Baxter, NuVasive Inc., Smith & Nephew, Medtronic, Orthofix Holdings Inc., TBF Tissue Engineering, Stryker Corporation, OrthoFix Medical Inc., MedBone Biomaterials, SeaSpine are among the key players shaping the Bone Grafts and Substitutes industry.
The increased use of allografts and the growing preference for spinal fusions in the Bone Grafts and Substitutes Market are favorably impacting the global demand for bone grafts and substitutes.
The market in the USA is expected to reach a valuation of USD 2.4 Billion during the forecast period along with a CAGR of 6.9%
The Asia Pacific market is expected to grow significantly during the forecast period mainly due to the increased research and development by the key market players, and the growing SCI cases in India and China.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2015 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Material Type 5.1. Allograft 5.1.1. Demineralized Bone Matrix 5.1.2. Other Allografts 5.2. Synthetic 5.2.1. Ceramics 5.2.2. Composites 5.2.3. Polymers 6. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Deployment Mode 6.1. Craniomaxillofacial 6.2. Dental 6.3. Foot & Ankle 6.4. Joint Reconstruction 6.5. Long Bone 6.6. Spinal Fusion 7. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. Middle East and Africa (MEA) 8. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 11. East Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 12. South Asia Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Allosource 17.2. DePuySynthes Inc. 17.3. Baxter 17.4. NuVasive Inc. 17.5. Smith & Nephew 17.6. Medtronic 17.7. Orthofix Holdings Inc. 17.8. TBF Tissue Engineering 17.9. Stryker Corporation 17.10. OrthoFix Medical Inc. 17.11. MedBone Biomaterial 17.12. SeaSpine 18. Assumptions & Acronyms Used 19. Research Methodology
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Bone Grafts and Substitutes Market
