ALBANY, N.Y., Dec. 1, 2020 /PRNewswire/ -- The increasing incidences of bone grafting procedures worldwide may serve as a prominent growth factor for the bone graft substitutes market. The popularity of spine fusion surgery has escalated considerably over the years. This aspect may bring promising growth for the bone graft substitutes market.
The properties of bone graft substitutes make them one of the useful products during the spine fusion process, eventually inviting phenomenal growth for the bone graft substitutes market. Bone grafting is a surgical procedure involving transplanting a bone tissue to enable regeneration of damaged or lost bones due to an accident or injury.
According to the researchers at Transparency Market Research (TMR), the global bone graft substitutes market is prognosticated to expand at a CAGR of ~3 percent between 2020 and 2030. The global bone graft substitutes market was valued at US$ 2.9 bn in 2019.
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The booming geriatric population across the world and the frequency of bone-related issues among them are extrapolated to trigger growth across the assessment period of 2020-2030. The emergence of spine fusion surgery as one of the most sought-after surgeries may help the bone graft substitutes market to gain good growth.
Bone Graft Substitutes Market: Transparency Expert Diagnosis
The analysts at Transparency Market Research expect the global bone graft substitutes market to gain growth on the back of the increase in the focus on research and development activities, rise in adoption of bone graft substitutes, and effective bone graft substitute materials.
The analysts advise the players in the bone graft substitutes market to expand their product portfolio and should focus on utilizing materials with enhanced quality, functionalities, and properties.
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Bone Graft Substitutes Market: Key Revelations
- The allografts segment acquired a massive market share in 2019 in terms of product
- The allografts segment is expected to observe the same run during the assessment period of 2020-2030
- On the basis of end-user, the hospital segment held a lion's share in 2019
- North America acquired a large share of the bone graft substitutes market in 2019 in context to the regional landscape
- Asia Pacific is expected to acquire a massive share of the global bone graft substitutes market during the assessment period of 2020-2030
Explore 318 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Bone Graft Substitutes Market (Product: Allografts, Synthetic Bone Graft, Xenograft, Autograft, and Others; Material: Ceramic-based, Polymer-based, Growth Factor-based, Cell-based, and Others; Application: Craniomaxillofacial, Dental, Foot & Ankle, Joint Reconstruction, Spinal Fusion, Long Bones, and Others; and End User: Hospitals, Clinics, and Academic & Research Institutes) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030 at https://www.transparencymarketresearch.com/report-toc/79531
Bone Graft Substitutes Market: Growth Accelerators
Chronic diseases are rising exponentially across the globe and this factor may prove to be a major factor in increasing the growth rate of the bone graft substitutes market during the tenure of 2020-2030.
- New product launches may further increase the growth opportunities for the bone graft substitutes market
- A strong web of distribution network will help in the smooth distribution of products, thus assisting in the growth of the bone graft substitutes market
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Bone Graft Substitutes Market: Major Restraints
In spite of being g a long-term solution to bone disease treatment, these treatments are very expensive. This dissuades many from opting for these treatments. This factor proves to be a prominent growth prospect. In addition, the COVID-19 had a moderate negative impact on the bone graft substitutes market due to the lockdown restrictions after the advent of the novel coronavirus pandemic.
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Global Bone Graft Substitutes Market: Segmentation
- Bone Matrix (DBM)
- Synthetic Bone Graft
- Calcium Phosphate
- Calcium Sulfate
- Growth Factor-based
- Foot & Ankle
- Joint Reconstruction
- Spinal Fusion
- Long Bones
By End User
- Academic & Research Institutes
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
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Spine Surgery Products Market: One of the key reasons driving the growth of the global spine surgery products market is considerable rise in the number of spine surgeries in all worldwide locations. This aside, the global spine surgery products market is getting benefitted from the consistent growth in the older population and spine degeneration cases in the globe.
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