Bone grafts are implantable materials that help in bone healing, bone formation, and osseous reconstruction due to their osteoconductive, osteogenic, and osteoinductive properties. Bone grafting is a surgical procedure carried out for replacing a missing or defective bone with material from a patient’s body, animals, cadaver, or a different person.
The global bone graft and substitutes market was USD 2740 million in 2018 and is estimated to reach USD 3830 million by 2023 at a CAGR of 4.90% during the forecast period
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Growth by Region
North America accounted for the largest market share in 2018 and will lead the market during the forecast period due to the rising incidences of severe bone fractures which require bone grafting treatments. Moreover, the prevalence of bone-related diseases such as osteoporosis and osteoarthritis is also boosting the demand and expansion of bone graft and substitutes in North America. Asia-Pacific will grow at the highest rate during the forecast period mainly owing to the growth across the bone graft and substitute market in countries like China, India, Japan, and Australia. Bone grafts & substitutes have become an essential component of the healthcare sector in the present scenario due to the growing occurrences of knee and hip replacement procedures in the region.
Drivers and Restraints
Upsurge in the occurrence of bone & joint disorders, technological improvements in the medical field, development of biocompatible synthetic bone grafts, and rise in demand for dental bone grafts are the major factors driving the bone grafts and substitutes market. Incremental boost in the cost of surgeries and stringent regulatory approval process are the major factors hindering the market growth.
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Industry Trends and Updates
There are several trends in this market which have the prospective to change the therapeutic approach and the treatment landscape in the bone graft substitute market. The most recent technological trend is to substitute these natural materials with alloplastic bone grafts such as ceramics and polymers as they can be manufactured to the precise size and characteristics. Moreover, Recombinant DNA technology is being pushed into use to mix synthetic materials with growth factors to enhance grafts and stem cell-based auto grafts. The better use of biotechnology is expected to boost the characteristics of synthetic bone graft such as osteoconduction, osteoinduction and osteogenesis etc.