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The global bone grafts and substitutes market was valued at $2,652.6 million in 2020, and is projected to reach $3,362.6 million by 2028, registering a CAGR of 4.3% from 2021 to 2028.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.
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An increase in the incidence of musculoskeletal conditions, advancements in medical technology leading to a shift from autograft to allograft, rise in preference for biocompatible bone grafts are the key factors that contribute toward the growth of the global bone grafts and substitutes market. In addition, an increase in cases of lifestyle disorders such as diabetes and obesity add to the risk of developing degenerative joint diseases that further fuels the growth of the market. However, the major restraints of this market are ethical issues related to bone grafting and high cost of surgeries.
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).
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 2020 and is expected to hold the largest share in the global market through 2028, contributing about 45%. However, the joint reconstruction segment would witness the fastest CAGR of 4.3% through 2028, owing to rise in demand for joint reconstruction among patients suffering from rheumatoid arthritis, osteoarthritis, and other joint disorders.
North America held the dominant position in the global market in 2020 and is expected to maintain its lead throughout the analysis period. This is attributed to the rise in the incidence of spinal fusion & joint reconstruction procedures, sedentary lifestyle contributing to joint disorders in the geriatric & younger population, and favorable reimbursement rates in the region.
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Key Findings of the Bone Grafts and Substitutes Market:
Bone graft substitutes segment dominated the overall market with a share of more than half of the overall market in 2020, and is expected to continue to lead the during the forecast period.
Asia-Pacific is expected to witness highest market growth rate, with a CAGR of 4.3% from 2020-2028
U.S. accounted for more than half of the overall market in 2020, whereas South Korea is expected to register the highest CAGR of 9.7%.
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