Press Release / Bone Graft Substitutes Market
Bone Graft Substitutes Market to Reach USD 5.74 Billion by 2030; Technological Advancements in the Industry to Push Market Forward
May 30, 2023 | HealthcareThe global bone graft substitutes market size was valued at USD 3.57 billion in 2022. The market is projected to grow from USD 3.78 billion in 2023 to USD 5.74 billion by 2030, exhibiting a CAGR of 6.2% during the forecast period. Fortune Business Insights™ in its report titled “Bone Graft Substitutes Market Size, Share & COVID-19 Impact Analysis, By Type (Allograft, Demineralized Bone Matrix (DBM), Synthetic, and Xenograft), By Application (Spinal Fusion, Joint Reconstruction, Foot & Ankle, and Others), By End-user (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2023-2030”. Several benefits of the substitutes and increasing incidences of bone disorders and infections may boost the industry growth. These substitutes can be used to increase the thickness and height of the jawbone.
Delayed Surgical Procedures to Foster Market Growth
The market was negatively affected during the COVID-19 pandemic due to delayed surgical procedures. The rapid spike in COVID-19 patients resulted in lack of hospital beds and equipment required for surgeries. Furthermore, reduction of patient visits may decline substitutes’ demand. However, lockdown relaxations enhanced hospital visits, thereby enhancing the product adoption. This factor fueled the market progress during the pandemic.
Orthoflix Holdings, Inc. and fiberFUSE Strip Announced their First Patient Implants
Orthoflix Holdings, Inc. along with fiberFUSE Strip, announced in July 2021 their first patient implants, which is an advanced demineralized fiber bone-graft solution containing cancellous bone.
Production of Technological Advanced Bone Graft Substitutes to Fuel Industry Growth
Bone graft substitutes are biologics used in place of autologous bone grafts. They treat bone defects, non-union or union surgeries, and spinal fusion. Rapid technological advancements in substitutes may elevate its demand. Further, increasing lumbar spine surgeries may bolster the surgical procedure’s adoption. For example, a synthetic bone graft substitute in the U.S. called QuickPack was introduced in January 2020 by OrthoPediatrics Corp. This substitute contains calcium phosphate cement, which is similar to the mineral phase of a bone. These factors may bolster the market growth.
Major Players Announce Novel Products for Expansion of Product Portfolio
Prominent players operating in the market launch novel products for expansion of product portfolio. For example, a newest addition to the AlloMend product line, AlloSource launched AlloMend Extra-Large (XL) Acellular Dermal Matrix (ADM), in October 2021. Further, companies devise partnerships, acquisitions, mergers, research & development, and expansions to boost their market position globally.
To get a detailed report summary and research scope of this market, click here:
https://www.fortunebusinessinsights.com/bone-graft-substitutes-market-103106
Notable Industry Development
- March 2022: Molecular Matrix, Inc. launched Osteo-P synthetic bone graft substitute for the musculoskeletal system. The Osteo-P BGS is the first clinical product developed using HCCP technology and is the only carbohydrate polymer-based bone graft substitute currently on the market.
List of Key Players Profiled in the Report
- Medtronic PLC (Ireland)
- DePuy Synthes Companies (Johnson & Johnson Services, Inc.) (U.S.)
- Stryker (U.S.)
- Zimmer Biomet (U.S.)
- Smith & Nephew plc (U.K.)
- SeaSpine (U.S.)
- AlloSource (U.S.)
- Bioventus (U.S.)
- MTF Biologics (U.S.)
- Orthofix Holdings, Inc. (U.S.)
Further Report Findings
- The market in North America was valued at USD 1.65 billion in 2022 and is expected to gain a huge portion of the global market share. Increasing launch of synthetic bone graft substitutes is expected to enhance the product demand. Furthermore, the presence of an enormous patient pool suffering from bone diseases may enhance the industry progress.
- In Europe, the increasing prevalence of spinal disorders and bone fractures may enhance the adoption of the product. Substantial R&D investments, rising focus of companies to launch new products in the market, and favorable health reimbursements for bone graft procedures will increase the Europe bone craft substitutes market share.
- The Latin America and the Middle East & Africa markets are anticipated to increase at a moderate growth rate during the forecast period.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 6.2% from 2023-2030 |
Unit | Value (USD Billion) |
Segmentation | By Type, Application, End-user, and Region |
By Type |
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By Application |
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By End-user
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By Geography
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- 2023
- 2019-2022
- 150
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