Rise in incidences of musculoskeletal conditions, technological advancements in medical devices, and development of biocompatible synthetic bone grafts fuel the growth of the global bone grafts and substitutes market. On the other hand, high cost of surgeries and ethical issues related with bone grafting procedures impede the growth to some extent. However, emerging market opportunities are expected to be beneficial for the market.
The global Bone Grafts And Substitutes Market was pegged at $2.65 billion in 2020 and is estimated to hit $3.36 billion by 2028, registering a CAGR of 4.3% from 2021 to 2028.
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COVID-19 scenario-
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.
- The outbreak of COVID-19 has made the key players in the industry face issues in regards to the availability of human resources for manufacturing bone grafts & substitutes at production facilities, which in turn has impacted the market negatively.
- However, government bodies in several countries have come up with relaxed norms and the market is anticipated to revive soon.
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Leading market players
- Baxter International Inc
- Musculoskeletal Transplant Foundation
- Integra LifeSciences Holdings Corporation
- Johnson & Johnson (DePuy Synthes)
- Medtronic Plc.
- Zimmer Biomet Holdings, Inc.
- Arthrex, Inc.
- NuVasive, Inc.
- Stryker Corporation
- Xtant Medical Holdings
Based on application, the spinal fusion segment contributed to nearly half of the total market revenue in 2020 and is anticipated to rule the roost by 2028. Simultaneously, the joint reconstruction segment would cite the fastest CAGR of 5.5% from 2021 to 2028.
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Top Market Players:
Baxter International Inc., Musculoskeletal Transplant Foundation, Integra LifeSciences Holdings Corporation, Johnson & Johnson (DePuy Synthes), Medtronic Plc., Zimmer Biomet Holdings, Inc., Arthrex, Inc., NuVasive, Inc., Stryker Corporation, and Xtant Medical Holdings.
Important Questions Being Answered by the Market Report
- What is the Bone Grafts and Substitutes Market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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