Bone Graft And Substitutes Market Growth & Trends

The global bone graft and substitutes market size is expected to reach USD 3.9 billion by 2027 registering a CAGR of 5.1%, according to a new report by Grand View Research, Inc. The synthetic product segment is anticipated to have the fastest growth over the forecast period due to the products’ better biocompatibility, lesser risk of disease transmission, and better acceptance among patients as compared to allografts. However, due to the postponement of elective surgeries during the Covid-19 pandemic, the demand for orthopedic devices, including bone graft & substitutes witnessed a drastic decrease.

Increasing incidences of spinal deformities are the key growth-driving factor of the market. According to the CDC 2017 report, in the U.S., about 32% of the adult population and 60% of the aged population is affected by spinal deformities. Moreover, the advent of biocompatible synthetic grafts is expected to drive the market growth. In addition, technological advancements and the growing geriatric population are boosting product demand.

According to the Population Reference Bureau’s 2018 statistics, from 13 countries to around 82 countries across the globe are expected to have more than 20% of the geriatric population by 2050. Thus, perpetual growth in the geriatric population is anticipated to result in an increased prevalence of arthritis and joint disorders, which, in turn, will boost product demand. Key players in the market are investing in new product development and product approvals.

For instance, in March 2019, AlloSource announced ProChondrix CR would have 2 years of shelf life based on the results of real-time testing. ProChondrix CR helps in cartilage healing and is intended to match biochemical & biomechanical properties of normal hyaline cartilage, improve patient symptoms, and restore a smooth articular cartilage surface.

Bone Graft And Substitutes Market Report Highlights

  • The allograft product segment accounted for the largest revenues share in 2019 and is projected to expand further at a steady CAGR of over 4% from 2020 to 2027
  • The adoption of allografts is increasing due to the product properties, such as immediate structural support and osteoconductivity
  • Led by the U.S., North America was the dominant regional market in 2019 and is estimated to retain its leading position over the forecast years
  • This growth is mainly due to the growing awareness regarding the commercially available advanced products, higher healthcare expenditure, and well-developed healthcare structure in the region
  • The Asia Pacific is anticipated to be the fastest-growing regional market from 2020 to 2027 owing to the rising medical tourism and favorable government initiatives
  • The industry participants are focusing on product launches, partnerships, and acquisitions to sustain the competition
  • However, the synthetic product segment, which includes ceramics, composites, polymers, and BMPs, is expected to exhibit the fastest CAGR over the forecast period
  • Spinal fusion was the largest application segment in 2019 and accounted for over 60% of the overall revenue share