The global bone graft and substitutes market is expected to reach over USD 3.6 billion by 2024, growing at an estimated CAGR of 5.2% from 2016 to 2024. Key drivers of the market include the growing elderly population and the resultant rise in orthopedic surgeries coupled with the perpetually rising awareness regarding the benefits of commercially available synthetic substitutes.
Continual efforts to develop improved allografts such as demineralized bone matrix grafts with greater osteoconductive and osteoinductive capabilities are anticipated to have a positive impact on the growth of the segment during the forecast period. Thus, this segment is anticipated to grow at the fastest CAGR of 4.6% from 2016 to 2024.
Utilization of BGS was observed to be the highest in spinal fusion surgeries among other applications. Increased demand for spinal fusion surgeries owing to the surging geriatric population coupled with the demand for minimally invasive surgeries is the foremost factor spurring the demand for BGS in spinal fusion surgeries.
Rapidly booming dental tourism industry and relatively low cost of the surgeries are some of the key factors propelling the growth of the dental application segment; which is to grow at the fastest CAGR during the forecast period.
North America was leading the global BGS market in 2015. Dominance of North America was majorly attributed to high awareness regarding commercially available products, greater healthcare expenditure, and the availability of advanced infrastructure.
Emerging countries, such as China, Brazil, and Mexico, are projected to exhibit significant growth from 2016 to 2024. The soaring medical tourism industry offering advanced medical services at an affordable cost is the major factor expected to fuel the growth of the BGS market in these countries.
- Depuy Synthese,Inc
- Nuvasive, Inc
- Orthofix Holdings,Inc
- Orthovita, Inc
- Smith & Nephew, Inc
- Stryker Corporation
- Wright Medical Group N.V
Key Topics Covered:
1 Research Methodology
2 Executive Summary
3 Market Snapshot
4 Market Variables, Trends & Scope
5 Market Categorization 1: Material Estimates & Trend Analysis
6 Market Categorization 2:Application Estimates & Trend Analysis
7 Market Categorization 4: Regional Estimates &Trend Analysis, by Material & Application type
8 Competitive Landscape
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SOURCE Research and Markets