The global bone graft and substitutes market is anticipated to grow at a CAGR of 4.7% during 2016 to 2023Bones have the usual capability to rebuild, but the surgical intervention is required to regenerate the bone if the defects exceed a critical size. The healing of fractures is a physiological process that fallouts in bone union. It is estimated that 5 to 10% of all fractures are related with reduced healing. Hereafter, currently, numerous bone grafts and substitutes are offered to redevelop the bone. According to the American Academy of Orthopaedic Surgeons, the ideal BGS (bone graft substitute) is easy to use, biocompatible, osteoconductive, osteoinductive, looks like bone, and are cost effective. The major factors which are driving the bone graft and substitute market are rising incidences of musculoskeletal conditions due to sudden exertion and repetitive strain, increasing base of elderly population, development of biocompatible synthetic bone grafts which is used for sinus lift procedure. The major restraints of the bone grafts and substitutes market are high cost of surgeries, and the stringent regulatory approval process.
The global bone grafts and substitutes market is segmented into its type and application. The type segment of bone grafts and substitutes market is sub segmented into allografts, bone graft substitutes. The application segment of the bone grafts and substitutes market is further divided into spinal fusion, long bone, foot and ankle, craniomaxilofacial, joint reconstruction, dental. Constant efforts to develop enhanced allografts for example demineralized bone matrix grafts with greater osteoinductive and osteoconductive abilities are expected to have a constructive impact on the development of the market during the forecast period.
Based on geography, the global bone grafts and substitutes market is segmented into North America, Europe, Asia-Pacific and Row. North America was anticipated to be the leading market for bone grafts and substitutes in the year 2016. North America was chiefly accredited to high awareness concerning commercially available products and the availability of advanced infrastructure and greater healthcare expenditure. According to Peter G. Peterson Foundation, the United States per capita healthcare spending is estimated to be $9024 which is more than twice the average as compare to the other developed countries. The major players of the bone grafts and substitutes market are Allosource, Baxter International, Depuy Synthes, Integra Lifesciences Holdings Corporation, Johnson & Johnson, Medtronic Plc, Musculoskeletal Transplant Foundation, Nuvasive, Inc, Orthofix Holdings, Inc, Orthovita, Inc, Stryker Corporation, Smith & Nephew, Inc, Wright Medical Group N.V, Xtant Medical Holdings, Inc, Zimmer Biomet Holdings, Inc. Acquisition, merger, innovation and new product launch are the major strategies which help to sustain in the market. On December 19, 2016 Kuros Biosciences is acquire Xpand Biotechnology, the collective entity expects to feat two complementary technologies Kuros’s fibrin/PTH biologics platform and Xpand’s synthetic surface science technology. This acquisition is Form Orthobiologics Firm with Bone Graft Substitute.