The Bone Grafts And Substitutes Market is bound to witness a robust CAGR going forward. The present scenario is that of prediction of the course of treatment based on data analytics. Technology has been dominating in the form of IoMT (Internet-of-Medical-Things), AI (Artificial Intelligence), cloud computing, predictive analytics, and what not? With the proven advantage of the reduction in casualties and real-time access to the history of patients, and not to forget – remote monitoring, the healthcare industry is there to upturn.
Market Overview
Bone grafts and substitutes (BGS) comprise the products that are used for the replacement of missing bones or to repair bone fractures. BGS are widely used in hip, foot and ankle surgeries, fractures and bone injuries. Bone graft and substitutes usually include components like osteoconductive matrix that act as scaffold for the development of new bone, osteoinductive proteins that supports mitogenesis of identical bone cells and osteogenic cells which are capable of forming bone in the appropriate environment.
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Bone grafts may be allografts, autologus or synthetic types. Main objective behind the use of bone graft and substitute product is to gain healing from factures and bone injuries or to replace the natural bone.
Increasing cases of orthopaedic surgeries and musculoskeletal disorders (MSD) which demands the use of bone grafts and substitutes will drive the growth of the market. For example, according to American Academy of Orthopaedic Surgeons, approximately 3 million musculoskeletal procedures perform annually in the United States. In addition, it is also stated that bone grafts are used in around 2.2 million orthopaedic procedures globally.
Thus, increasing use of bone grafts coupled with increasing cases of disorders that demands use of these materials will boost the growth of bone grafts and substitutes market. Furthermore, many key players offer variety of bone graft products that will attract more number of customers and hence drives the market growth.
For example, Synthes, Inc., a Johnson and Johnson Company offers chronOS Strip bone graft substitute. This synthetic bone graft is manufactured from chronOS β-tricalcium phosphate granules that can be perfuse with patients own bone marrow and blood.
Additionally, consistent efforts of many key players of this market to develop biodegradable composite structures and polymeric materials will attract customers to use bone grafts and substitute products and hence drives the market growth.
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Various other factors like advancement in technologies and increasing number of mergers and acquisitions will also drive the market growth of bone grafts and substitutes. However, some of the limitations using bone grafts and substitutes like donor site morbidity and difficulty in supplying these materials will hinder the market growth of bone grafts and substitutes.
The market of BGS can be categorized into:
- By Types
- Ceramic-based BGS
- Polymer-based BGS
- Growth factor-based BGS
- Cell-based BGS
- Harvested BGS
- Others
Geographically, North America dominates the global BGS market due to increasing use of allografts (i.e. one of the types of bone grafts) and other substitute products. According to Academy of Orthopaedic Surgeons, nearly one third of bone grafts used in North America are allograft types. Europe is considered as the second largest region for the bone grafts and substitutes market.
The growth is mainly attributed to frequent new introductions of bone grafts and substitute products in European region and availability of wide range of alternatives in bone grafts and substitute products. In addition, increasing patient population of orthopaedic surgery and steady supply of orthopaedic devices in Europe further stimulates the market growth.
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While Asia-Pacific region is the emerging region for the global bone grafts and substitutes market due to increasing acceptance of autograft bone.
The major players competing in bone grafts and substitutes market are Medtronic, Inc., Wright Medical Technology, Synthes, Inc., Stryker, Baxter International, Inc., TiGenix, Integra LifeSciences Corporation and others.
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