The global bone grafts and substitutes market was estimated to be worth USD 2.9 billion in 2021 and is expected to reach USD 6.3 billion by 2032, according to a recent industry analysis conducted by Future Market Insights (FMI). According to the report’s findings, the spinal fusion deployment mechanism sector, which generates the majority of market revenue, will continue to be significant. According to the deployment model, the spinal fusion market is expected to develop at a compound annual growth rate (CAGR) of 6.9% by 2032. The growing number of spinal cord injury (SCI) cases globally is mostly to blame for the growing demand for bone replacements and grafts in the spinal fusion market.
The US to Command the Larger Proportion of Bone Grafts and Substitutes Market throughout the Analysis Period
The United States controls 37.3% of the market and is expected to maintain its position with an absolute opportunity growth of US$ 1.2 billion to reach a valuation of US$ 2.4 billion by 2032. Its demand in the United States is expected to rise due to the rapidly increasing demand for bone grafts and substitutes in Spinal Cord Injuries (SCIs). According to the CDC, 67 million adults in the United States will have arthritis by 2030, increasing the demand for bone grafts, which are required for arthritis treatment.
“The application of allograft bone grafts in demineralized bone matrices procedures have significant potential to emerge as a key market driver during the forecast period for the Bone Grafts and Substitutes market.”comments an analyst at Future Market Insights.
Bone Grafts and Substitutes Market: Competition Insights
Currently, Bone Grafts and Substitutes providers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand. The key companies operating in the Bone Grafts and Substitutes market include Allosource, DePuySynthes Inc., Baxter, NuVasive Inc., Smith & Nephew, Medtronic, Orthofix Holdings Inc., TBF Tissue Engineering, Stryker Corporation, OrthoFix Medical Inc., MedBone Biomaterials, and SeaSpine.
The key recent developments of Bone Grafts and Substitutes manufacturers are as follows:
- Orthofix Medical Inc. launched Opus B.A., a highly efficient and synthetic bioactive bone graft solution, in February 2022 to aid in the process of cervical and lumbar spine fusions.
- NuVasive Inc. acquired Simplify Medical in February 2021 to strengthen the company’s cervical portfolio, thereby expanding its growth avenues during the forecast period.
- Wright Medical Group N.V. will be acquired in November 2020. Stryker Corporation completed the project. The acquisition of this medical equipment company specialising in extremities and biologics is expected to help Stryker Corporation improve its bone graft substitute portfolio and expand its market position.
- Baxter’s Altapore Shape bioactive bone graft was approved by the FDA in July 2020. Among the many benefits of this bone graft is improved bone growth.
Key Segments Covered in Market Survey
The Bone Grafts and Substitutes Market is segmented based on material type, deployment mode, and region.
By Material Type:
- Allograft
- Demineralized Bone Matrix
- Other Allografts
- Synthetic
- Ceramics
- Composites
- Polymers
- Bone Morphogenic Proteins (BMP)
By Deployment Mode:
- Craniomaxillofacial
- Dental
- Foot & Ankle
- Joint Reconstruction
- Long Bone
- Spinal Fusion
By Region:
- North America
- The USA
- Canada
- Asia Pacific
- China
- Japan
- South Korea
- India
- Europe
- Germany
- United Kingdom
- France
- Russia
- Italy
- The Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- United Arab Emirates(UAE)
- Nigeria
- Egypt
- Latin America
- Mexico
- Brazil
- Argentina
- Colombia
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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