Global bone grafts and substitutes market was estimated at $2.6B in 2016 across the 39 markets covered in this report. By the end of the forecast period in 2023, GlobalData estimates the market will grow to approximately $3.3B at a Compound Annual Growth Rate (CAGR) of 3.7%.
Key drivers of the bone grafts and substitutes market in the forecast period are:
Growing procedure volume of spinal fusion, trauma fixation, and joint reconstruction due to growing aging and obese populations.
Companies’ continued efforts on product innovation and line extension to create a comprehensive orthobiologics platform.
Ongoing research for materials that promote the healing triad: osteoinductivity, osteoconductivity, and osteogenesis.
Conditions for spontaneous bone healing after trauma or orthopedic surgery are not always ideal. Even with the efficacy of modern internal fixation and spinal fusion techniques, factors such as poor vascularity, malnutrition, and substantial bone or soft tissue loss can impede effective bone growth. As a result, the market for bone grafts and substitutes has emerged and exploded. Growing orthopedic and spinal procedure volumes, as well as increasing adoption of synthetic bone substitutes, are primarily driving the expansion of the bone grafts and substitutes market in the forecast period. However, high product cost is a demanding obstacle to be overcome.