Research Nester released a report titled “Synthetic Bone Graft Substitutes Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global synthetic bone graft substitutes market in terms of market segmentation by material, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global synthetic bone graft substitutes market is segmented by material into ceramics, composites and polymers, out of which, the composites segment is projected to grow with the highest CAGR of 8.7% during the forecast period, i.e., 2020-2028 on account of the excellent cosmetic and functional results provided by the composites material and the relatively simple reconstruction technique of composite synthetic bone graft substitutes over other material types.
The global synthetic bone graft substitutes market is anticipated to grow with a CAGR of 7.4% during the forecast period. Increasing patient awareness about synthetic bone graft substitutes for the treatment of orthopedic conditions, rising number of product developments for developing substitutes for bone-related surgeries and the increasing prevalence of chronic bone diseases around the globe are some of the factors anticipated to contribute towards the growth of the market.
Geographically, the global synthetic bone graft substitutes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America held the largest market share of 43.6% in the year 2019 on account of the increasing number of orthopedic surgical procedures in the region, rising healthcare expenditure, and the increasing awareness about the commercially available advanced synthetic bone graft substitute products.
Growing Concerns for Orthopedic Disorders in the Elderly Population to Drive Market Growth
The elderly population globally has increased from 7.641% of the total population to 8.921% of the total population between the years 2010-2018, according to the statistical data by the Organisation for Economic Co-operation and Development (OECD).
There is always a risk with the geriatric population as they have the tendency to suffer from different type of diseases. One of the most common disorders in the elderly population is related to the disorder of the bone, where the tendons and ligaments change their structure affecting the joints. As the body is unable to produce new bone, hence bone grafting procedures are suggested by healthcare specialists, which is anticipated to drive the market growth. Moreover, rising awareness for synthetic bone graft substitutes amongst the individuals, along with the increasing number of patients with rheumatoid arthritis, osteoarthritis, neuropathic arthropathy, and other joint disorders are further anticipated to drive the market growth during the forecast period.
However, concerns for the complications faced by patients, such as resisting torsion and bending of the grafted bone while carrying the load are some of the factors anticipated to hamper the market growth.
This report also provides the existing competitive scenario of some of the key players of the global synthetic bone graft substitutes market which includes company profiling of Baxter International, Inc. (NYSE: BAX), DePuy Synthes Companies, Wright Medical Group N.V., Medtronic (NYSE: MDT), Arthrex, Inc., Kuros Biosciences (SWX: KURN), Zimmer Biomet (NYSE: ZBH), Stryker (NYSE: SYK), Biomatlante, and Bioventus LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global synthetic bone graft substitutes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.