Bone Grafts and Substitutes Market Experience a Significant Increase in Revenues; registering CAGR of 4.3% from 2021-2030

The increase in number of patients suffering from bone-related diseases, and surge in elderly population further fuels the growth of the bone grafts and substitutes market

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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The global bone grafts and substitutes market was valued at $2.65 billion in 2020, and is projected to reach $3.36 billion by 2028, registering a CAGR of 4.3% from 2021 to 2028. 

The COVID-19 outbreak has disrupted and forced several industries to halt their activities temporarily, including several subdomains of health care. Similarly, the bone graft & substitutes industry was impacted negatively. Major key players in the market were facing supply chain interruptions and the demand of the products was reduced significantly. Throughout 2020, hospitals and clinics experienced a noteworthy decline in surgical procedural volumes worldwide as healthcare systems redirected their resources to meet the rise in requirements of the COVID-19 patients. In addition, public health bodies across the world have suggested rescheduling or suspending elective surgeries throughout the pandemic phase. In addition, several orthopedic elective procedures, including spine, hip replacement, and knee replacement were halted. On the contrary, surgeons, patients, and medical societies are continuously assessing the risks of elective surgeries in the existence of infectious diseases, which is anticipated to have a positive impact on the demand for bone grafts & substitutes products and the number of procedures performed in the near future.

Increase in musculoskeletal conditions, advancements in medical technology leading to a shift from autograft to allograft, increased preference for biocompatible bone grafts are key factors that contribute to the growth of the market worldwide. In addition, increase in cases of lifestyle disorders such as diabetes and obesity add to the risk of developing degenerative joint diseases that further fuel the growth of the market. The major restraints of this market are ethical issues related to bone grafting and high cost of surgeries.

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  • Bone graft substitutes segment accounted for more than half of the total market in 2020, while cell-based matrices segment is expected to grow at the highest CAGR of 5.1% from 2021 to 2028. 
  • Asia-Pacific is expected to witness highest market growth rate, with a CAGR of 6.3% driven by growth in population, increase in affordability, and improvement in healthcare facilities in the region. 
  • U.S. accounted for more than half of the overall market in 2020, while South Korea is expected to be the fastest growing country growing at a CAGR of 8.5%.

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