Bone Grafts and Substitutes Market Expected to Reach $4,005.26 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Bone Grafts and Substitutes Market," The bone grafts and substitutes market was valued at $2,586.30 million in 2021, and is projected to reach $4,005.26 million by 2031, registering a CAGR of 4.5% from 2022 to 2031. 

Bone substitutes are synthetic materials that are designed to mimic the structure and function of natural bone. They are made from a variety of materials such as ceramics, metals, and polymers. These substitutes can be used alone or in combination with bone grafts to help promote bone growth and healing. They are used in a similar range of conditions as bone grafts such as spinal fusion, fracture repair and bone cancer treatment. 

The major factors driving the growth of the bone grafts and substitutes market are increase in number of road accidents & joint disorders, increase in demand of dental bone grafts and rise in geriatric population. Bone grafts and substitutes are often used to help heal bone fractures and other injuries caused by accidents. In addition, in many cases, they can be used to replace or repair damaged bone tissue, helping to restore normal function and mobility. Further, bone grafts and substitutes may be required in cases where the bone has been severely damaged or lost due to the accident. In these cases, bone grafts or substitutes can be used to help regenerate new bone tissue, which can help restore function and mobility of the affected area. 

In addition, traumatic spinal cord injury (SCI) can cause damage to the vertebral column, which leads to fractures, dislocations and other types of injuries to the bones. The bone grafts and substitutes are used to reconstruct such injuries in the spine. Thus, rise in number of spinal cord injuries is expected to drive the growth of the market. For instance, according to National Spinal Cord Injury Statistical Center 2022, stated that, every year about 18,000 new spinal cord injury (SCI) cases are reported in the U.S., thus, rise in SCI cases drives the growth of the bone grafts and substitutes market. 

Moreover, the bone grafts and substitutes market trends are the ongoing technological advancements in the field of orthopedic surgery, resulting in the development of new and improved products that are effective and easier to use. These innovations are expected to increase demand for bone grafts and substitutes, and drive the bone grafts and substitutes market forecast. 

However, factors such as high cost and regulatory concerns are projected to limit the growth of the bone grafts and substitutes market. The cost of bone grafts and substitutes can be relatively high, which is anticipated to limit the adoption of these products by some patients. In addition, approval process for new bone graft and substitute products can be lengthy and costly, which could limit the development and introduction of new products to the market. Thus, high cost and regulatory approvals restrain the growth of the bone grafts and substitutes market. 

Moreover, increase in incidence of sport injuries, expansion of application of bone grafts & substitutes in spinal fusion, trauma surgery and surge in awareness about the same are the factors which provide lucrative opportunities to the key players of the market.  

On the basis of type, the bone grafts and substitutes market analysis is segmented into allografts, bone grafts substitute and cell-based matrices. The bone grafts substitute segment accounted for the largest bone grafts and substitutes market size in 2021, owing to rise in adoption of substitutes in bone related diseases and rise in product launches by key players of the market.  The cell-based matrices is expected to register highest CAGR during the forecast periods owing to rise in number of R&D activities related to cell-based matrices, and surge in adoption of such products in bone growth and healing.  

On the basis of application, the market is categorized into spinal fusion, trauma, joint reconstruction, dental bone grafting and craniomaxillofacial. The spinal fusion segment occupied largest bone grafts and substitutes market size in 2021 and is expected to remain dominant during the forecast period owing to increase in geriatric population and rise in incidence of spinal disorders. The joint reconstruction segment is projected to register highest CAGR during the forecast period owing to rise in prevalence of joint disorders and surge in number of joint replacement surgeries.   

On the basis of end user, the market is categorized into hospitals, specialty clinics and others. The hospitals segment occupied largest bone grafts and substitutes market share in 2021 owing to availability of advanced medical technologies, highly skilled healthcare professionals, and a wide range of specialized services. The specialty clinic segment is expected to register highest CAGR owing presence of specialized healthcare professionals, advanced equipment, and resources to provide comprehensive care for patients in clinics. 

Region wise, North America accounted for a majority of the global bone grafts and substitutes market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of orthopedic disorders, prevalence of advanced healthcare infrastructure, and presence of key players offering bone grafts & substitutes. Upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for the market expansion. However, Asia-Pacific is anticipated to witness notable growth, owing to increase in number of joint disorders, rise in awareness about bone grafts, and surge in investments for development of advanced bone grafts, is expected to drive the growth of the market during the forecast period. 

 Key findings of the study 

• On the basis of type, the bone graft substitutes segment was highest contributor to the market in 2021. 
• On the basis of application, the spinal fusion segment dominated the bone grafts and substitutes industry in terms of revenue in 2021. However, the joint reconstruction segment is anticipated to grow at the highest CAGR during the forecast period. 
• On the basis of end user, the hospitals segment dominated the bone grafts and substitutes industry in terms of revenue in 2021. 
• Region wise, North America generated the largest revenue in 2021. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.