Categories: Healthcare

Bone Grafts and Substitutes Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Bone Grafts and Substitutes by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Bone Grafts and Substitutes, The bone grafts and substitutes market size has grown strongly in recent years. It will grow from $3.17 billion in 2023 to $3.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased demand for orthopedic medical devices, increased disability rates, increased joint replacement surgical procedures, rise in healthcare expenditure and strong economic growth in emerging markets.

The bone grafts and substitutes market size is expected to see strong growth in the next few years. It will grow to $4.22 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising geriatric population, rising incidences of road accidents and sports injuries, increase in demand for joint reconstruction disorders and rising number of diabetes-related amputations. Major trends in the forecast period include new product launches, 3d printed bone grafts and partnerships and collaborations.

The rise in the incidence of musculoskeletal disorders such as osteoporosis and tendonitis is expected to propel the growth of the bone grafts and substitutes market going forward. Musculoskeletal disorders are some types of injuries and disorders that affect the human body’s movement and musculoskeletal system. These cause disorders in muscles, nerves, tendons, joints, cartilage, and spinal discs. As a result, due to an increase in musculoskeletal disorders, an increase in demand for bone grafts, and the substitutes market. For instance, in March 2022, according to a Pediatric Orthopedic Consultant at the Indian Spinal Injuries Centre, Delhi, there was a 50% rise in Pediatric Orthopaedic Cases due to poor posture of students during online classes. Therefore, the increasing growth of the incidence of musculoskeletal disorders helps to increase the demand for bone grafts and substitutes market.

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The bone grafts and substitutes market covered in this report is segmented –

1) By Material: Allograft, Synthetic, Xenograft

2) By Application: Spinal Fusion, Trauma, Craniomaxillofacial, Joint Reconstruction, Dental Bone Grafting, Other Applications

3) By End User: Hospitals and Clinics, Surgical Centers, Other End-Users

New product innovations have emerged as the key trend gaining popularity in the bone grafts and substitutes market. Major companies operating in the bone grafts and substitutes market are focused on product innovations to meet consumer demand. For instance, in July 2021, Orthofix, a US-based company that manufactures bone graft devices, launched a new fiber bone-graft strip called the Orthofix fiberFUSE Strip, a sophisticated demineralized bone graft solution including cancellous bone. The utilization of Novel Fibers Strip is a great bone-graft strip for posterior cervical, posterior lumbar, and degenerative spinal surgery prevention. The fiber fuse Strip comprises mineralized cancellous and demineralized cortical bone fibers, which are used in the healing of bones.

The bone grafts and substitutes market report table of contents includes: