(MENAFN- EIN Presswire)
PORTLAND, IL, UNITED STATES, January 30, 2025 /EINPresswire / -- Increase in the number of spinal & joint construction surgeries, trauma cases and innovation in the orthopedic sectors is expected to drive the growth of the bone grafts and substitutes market .
The bone grafts and substitutes market was valued at $2,586.30 million in 2021, and is projected to reach $4,005.26 million by 2031, registering a CAGR of 4.5% from 2022 to 2031.
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Bone substitutes are synthetic materials that are designed to mimic the structure and function of natural bone. They are made from a variety of materials such as ceramics, metals, and polymers. These substitutes can be used alone or in combination with bone grafts to help promote bone growth and healing. They are used in a similar range of conditions as bone grafts such as spinal fusion, fracture repair and bone cancer treatment.
The global bone grafts and substitutes market is grouped into various segments based on type, application, end user, and region. It is offered in both graphical and tabular form, authorizing an individual or a commercial enterprise to benefit perception into the highly profitable and rapidly growing segments.
Key Takeaways:
The bone grafts substitute segment would dominate the market in terms of revenue through 2031.
The spinal fusion segment held the major share in 2021, garnering nearly half of the global bone grafts and substitutes market revenue and is projected to maintain the lion's share through 2031.
The hospitals segment is expected to maintain its lead in terms of revenue during the forecast period.
Asia-Pacific market is expected to manifest the fastest CAGR of 5.3% during the forecast period.
In terms of type, the bone grafts substitute segment dominates the highest market share in 2021, holding more than half of the global bone grafts and substitutes market revenue, and is expected to lead the trail by 2031. The cell-based matrices segment, on the other hand, would display the fastest CAGR of 5.1% from 2022 to 2031. The allografts segment is also discussed in the report.
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Moreover, the bone grafts and substitutes market trends are the ongoing technological advancements in the field of orthopedic surgery, resulting in the development of new and improved products that are effective and easier to use. These innovations are expected to increase demand for bone grafts and substitutes, and drive the bone grafts and substitutes market forecast.
However, factors such as high cost and regulatory concerns are projected to limit the growth of the bone grafts and substitutes market. The cost of bone grafts and substitutes can be relatively high, which is anticipated to limit the adoption of these products by some patients. In addition, approval process for new bone graft and substitute products can be lengthy and costly, which could limit the development and introduction of new products to the market. Thus, high cost and regulatory approvals restrain the growth of the bone grafts and substitutes market.
Moreover, increase in incidence of sport injuries, expansion of application of bone grafts & substitutes in spinal fusion, trauma surgery and surge in awareness about the same are the factors which provide lucrative opportunities to the key players of the market.
Market Segmentation:
By Type:
Allografts-
Machined allografts
Demineralized bone matrix
Bone grafts substitutes-
Bone morphogenic proteins (BMP)
Synthetic bone grafts
Cell based matrices-
By Application:
Spinal fusion
Trauma
Joint reconstruction
Dental bone grafting
Craniomaxillofacial
By End User:
Hospitals
Specialty clinics
Others
By Region:
North America (U.S., Canada, Mexico)
Europe (France, Germany, Italy, Spain, UK, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
LAMEA (Brazil, South Africa, Saudi Arabia, Rest of LAMEA)
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The report also provides an in-depth analysis of the top players in the global bone grafts and substitutes market, they are as mentioned: Xtant Medical Holdings, Inc., Stryker Corporation, Johnson & Johnson, Integra LifeSciences, Baxter International Inc., Medtronic plc, Nuvasive, Inc., Arthrex, Inc., Zimmer Biomet Holdings, Inc., and Orthofix Holdings, Inc. these leading players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, new technological advances, and new product launches to maintain their foothold in the market.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.