What are bone substitute materials?
Main body. Synthetic bone substitutes consist of hydroxyapatite, tricalcium phosphate, calcium sulfate, or a combination of these minerals. Synthetic porous substitutes share several advantages over allografts, including unlimited supply, easy sterilization, and storage
Bone Grafts and Substitutes Market Overview:
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.
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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.
COVID-19 scenario-
- 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.
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
Onkar Sumant
Asia-Pacific to be fastest-growing, North America to generate highest revenue
Based on region, North America held the major share in 2020, generating nearly three-fifths of the global bone grafts and substitutes market. At the same time, the market across Asia-Pacific would cite the fastest CAGR of 6.3% during the forecast period. The other regions studied in the report include Europe and LAMEA.
Major players that operate in this market include Arthrex, Inc., Baxter International Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson (DePuy Synthes), Medtronic Plc., Musculoskeletal Transplant Foundation, NuVasive, Inc., Stryker Corporation, Xtant Medical Holdings, Inc., and Zimmer Biomet Holdings, Inc.
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KEY FINDINGS OF THE STUDY
- 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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