For decades together, bone grafts and substitutes have been consistently used for bone structure restoration, regeneration, and pain relief. Autografts were conventionally used for bone grafting, where a patient’s own bone was utilized as a graft. Autologous bone grafts are considered to be the gold standard for bone transplant. However, the use of autologous bone grafts contains the risk of transfer of infection. Thus, allografts were introduced in the global market to overcome the limitations of and the disadvantages linked with autologous grafts. Bone grafts and substitutes are primarily used in numerous application areas including foot and ankle, dental, joint replacement, spinal fusion, and craniomaxillofacial procedures.
As per the International Osteoporosis Foundation, the global incidence of fracture in men and women is expected to increase by 310% and 240% respectively by 2050. The growing incidence of fractures is expected to propel the global bone grafts & substitutes market in the years to come. The launch of new bone grafts and substitutes is expected to propel the global bone grafts and substitutes market.
Recently, Cerapedics, based in Colorado, developed FDA-approved bone grafts for the cervical spine, which the company believes has the capacity to improve spinal fusion procedures. The company has introduced the i-Factor bone graft that aims at improving the fusion level that is supposed to be achieved during spinal fusions in the cervical spine. i-Factor is the second FDA-approved bone graft on the market after Medtronic’s In Fuse, which is approved for improving the lumbar spine.
North America Bone Grafts and Substitutes Market to Expand at a 3.50% CAGR from 2015 to 2023 owing to Increased Focus on Patient Care
The global bone grafts and substitutes market is expected to expand from US$2.35 bn in 2014 to US$3.48 bn by 2023 exhibiting a 4.50% CAGR from 2015 to 2023 owing to factors such as rapid technological advancements and the penetration of synthetic bone grafts. The global bone grafts and substitutes market is segmented on the basis of type, geography, and application. Based on geography, the global bone grafts and substitutes market is divided into Europe, North America, Asia Pacific, Latin America, and Rest of the World.
In 2014, North America dominated the global bone grafts and substitutes market followed by Europe. The North America bone grafts and substitutes market is predicted to expand at a 3.50% CAGR from 2015 to 2023. Factors such as continuous technological advancements, strict government regulations, and the rising focus on patient safety are expected to propel the North America bone grafts and substitutes market in the years to come.
Allografts Segment to Drive Growth of Global Bone Grafts and Substitutes Market
Based on type, the global bone grafts and substitutes market is classified into allografts and bone graft substitutes. The allografts segment is anticipated to reach US$1.15 bn by 2023, registering a 3.90% CAGR from 2015 to 2023. The technological transition from autografts to allografts is predicted to propel the allografts segment in the next few years. Some of the application areas of bone grafts and substitutes are foot and ankle, spinal fusion, long bone, dental, joint reconstruction, and craniomaxillofacial.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/bone-grafts-substitutes-market.htm
The DePuy Synthes Companies, Baxter International, Inc., Stryker Corporation, Zimmer Biomet Holdings, Inc., and Medtronic plc., are some of the leading players in the global bone grafts and substitutes market.
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