Market OverviewBone grafts and substitutes are extensively used in orthopedic surgeries for frequent applications. Increasing cases of orthopedic complications caused due to the weakened bones are likely to fuel the demand. According to Department of Economic and Social Affairs, UN, Population Division, number of people aged above 60 was 841 million in the year 2013 and is expected to reach almost 2 billion in 2050. Therefore, the number of orthopedic surgeries is anticipated to grow with the rising geriatric population susceptible to orthopedic ailments. Hence, the market is anticipated to witness the significant demand during forecast period.
Furthermore, the increasing number of these spinal fusion surgeries is further fuelling the demand. According to CDC report about 32% of adult population and 60% of elderly population was affected by the spinal deformities as of 2017 with around 488,000 spinal processes performed in the U.S. The common cause of the spinal fusion injury found to be includes trauma, falls, road traffic accidents or collisions. Moreover, increasing incidence of fractures is further increasing rate of grafting procedures. According to CDC, the worldwide occurrence of hip fracture is likely to increase by above 240% in women and above 310% in men by 2050.
Segment OverviewAdoption of the allografts over autografts is increasing owing to the properties such as support and osteoconductivity and immediate structural. Furthermore, allografts do not require additional surgery to harvest the bone, which results in the reduced surgery time and also the rapid wound healing. Hence, allografts are the most commonly used in areas including hip, spine, and knee. Thus, the market is projected to grow at a substantial rate during the forecast period.
Spinal fusion accounts for largest revenue share. Spinal fusion is used to correct the defects in small in the spine. According to European Spine Journal 2016, De novo degenerative lumbar scoliosis is a spinal deformity in elderly population that leads to the disability and LBP/leg pain, disc degeneration and spine trauma etc. To curb the problem, spine grafts are being implemented as a technique of treatment of choice.
Regional OverviewNorth America commanded the largest revenue share in the 2018. Awareness about commercially available products, and the availability of the advanced infrastructure are key factors contributing to the growth. The U.S., is leading global market by creating maximum product demand on the account of high prevalence of the trauma-related injuries and orthopaedic diseases.
Asia Pacific is projected to show lsubstantial growth over the forecast period. Growth can be accredited to the increased medical tourism and the favourable government initiatives. However, stringent regulatory rules limit adoption in some of countries. In South Korea, product should be approved by Korean Food and Drug Administration before marketing. Similarly in case of Australia, the products are regulated by the Therapeutic Goods Administration (TGA). Moreover, the stringent regulatory scenario in Japan in Japan 2019, the allograft market is expected to register rewarding growth in this region in the coming years.
Competitor overviewSome of the key industry players are Medtronic PLC; DePuy Synthes; Nuvasive, Inc.; Inc.; Wright Medical Group N.V.; Orthofix Holdings, AlloSource, Inc.; and Stryker Corp. The major companies are implementing strategies such as collaborations, partnerships, mergers, and acquisitions to support their market position. Stryker, Medtronic, and Depuy Synthes held the major share of the bone grafts & substitutes market.
The entry of the new players especially in synthetic segment is anticipated to boost market growth with enormous untapped opportunities. In Feb 2019, Medtronic launched a Grafton DBM in Japan, which was first-ever DBM in the country. This initiative is anticipated to increase company’s regional penetration. Furthermore, in April 2018, the medical company Medtronic received the U.S. FDA approval for the Infuse Bone Graft for the spine surgeries. This approval is anticipated to increase company’s penetration in the spine surgery.
Key Players
- DePuy Synthes;
- Medtronic PLC;
- Nuvasive, Inc.;
- Orthofix Holdings, Inc.;
- Wright Medical Group N.V.;
- AlloSource, Inc.;
- Stryker Corp.
- Baxter
- Smith & Nephew, Inc.
- Zimmer Biomet
Market SegmentationBy Products
- Allografts
- Demineralized Bone Matrix
- Others
- Synthetic
- Ceramic
- Composite
- Polymer
- Others
By Application
- Craniomaxillofacial
- Dental
- Foot and Ankle
- Joint Reconstruction
- Long Bone
- Spinal Fusion
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
