Synthetic Bone Graft Substitutes Overview
Bone grafting is a surgical process where the transplanted bone is used for repairing, replacing, or rebuilding missing, diseased or damaged bones. The grafting material can be from the patient’s own body, synthetic or a natural substitute. A bone substitute is defined as a combination which is inserted for the treatment of a defective bone. The combination that is inserted can be synthetic, inorganic or biologically organic. The synthetic bone graft substitute can be made of ceramic, composite or a polymer material.
The global synthetic bone graft substitutes market is anticipated to grow with a CAGR of 7.4% during the forecast period, i.e., 2020-2028. The market is further projected to touch USD 1546.90 million by the end of 2028. The market is thriving on the back of the rising prevalence of chronic bone diseases globally, increasing patient awareness about synthetic bone graft substitutes for the treatment of orthopedic conditions, along with the increasing number of product developments for developing substitutes for bone-related surgeries.
Regional Growth Highlights during 2019-2028
The global synthetic bone graft substitutes market is segmented by regions into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Among these regions, the North America synthetic bone graft substitutes market held the largest market share of 43.6% in the year 2019 and is further projected to grow with a CAGR of 5.6% during the forecast period. Increasing awareness about the commercially available advanced synthetic bone graft substitute products, coupled with the increasing number of orthopedic surgical procedures, rising demand for cost-effective and efficient synthetic bone grafts and the increasing healthcare expenditure are some of the significant factors anticipated to drive the growth of the synthetic bone graft substitutes market in North America.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). CLICK TO DOWNLOAD SAMPLE REPORT
Market Segmentation Synopsis
By Material
The global synthetic bone graft substitutes market is segmented by material into ceramics, composites and polymers. Among these segments the composites segment is projected to grow with the highest CAGR of 8.7% during the forecast period. Composite grafts are materials made of either two or more constituents with different chemical and physical properties. The growth of the segment can be attributed to the relatively simple reconstruction technique of composite synthetic bone graft substitutes over other material types, along with the excellent cosmetic and functional results provided by the composites material. Moreover, composites are the emerging grafting materials that combine scaffolding properties with biological elements to facilitate cell proliferation and differentiation. On the other hand, the ceramics segment can be further divided into hydroxyapatite, TCP, calcium sulfate, bi-phasic calcium phosphate, bioactive glass and others. Amongst these segments, the TCP segment is anticipated to grow with the highest CAGR during the forecast period.
By Application
The global synthetic bone graft substitutes market is segmented by application into spinal fusion, hip surgery, knee surgery, shoulder surgery, upper limb surgery, lower limb surgery, craniomaxillofacial, hand & foot surgery, dental bone grafting, and other surgeries. Among these segments, the spinal fusion segment is projected to hold the largest market share by the end of 2028 as it is one of the most common spine surgery procedures and is used to treat morbidities. The process is also widely used as it relieves discomfort in patients undergoing grafting surgery. Moreover, this process generally reduces symptoms of many back problems, such as degenerative disc disease, spinal stenosis, and others.
By End-User
The global synthetic bone graft substitutes market is segmented by end-user into hospitals, orthopedic clinics, ambulatory surgical centers, and others. Among these segments, the hospitals segment registered the largest market share of 48.17% in the year 2019 on account of the rising number of hospitals that provide different types of treatment options, coupled with the increasing investment made by the hospitals for research and development in collaboration with independent or institutional research facilities.
Market Drivers & Challenges
Growth Indicators
Increasing Geriatric Population and the Rising Prevalence of Bone-Related Disorders
According to the statistical data of Organisation for Economic Co-operation and Development (OECD), the elderly population around the world increased from 7.641% of the total population in the year 2010 to 8.921% of the total population in the year 2018.
The geriatric population around the globe is increasing at a significant pace. With the growing age, the risk of having bone-related disorders is also massive. The human body is designed in such a way that with time the tendons and ligaments change their structure and the joints are affected with reduced flexibility. Due to old age, the body becomes incapable of producing enough new bone in certain situations and therefore treatments such as synthetic bone graft are implemented. Moreover, disorders such as osteoporosis, which is prominent in post-menopausal women, cause hip fractures, and therefore the need for synthetic bone grafting substitutes. Additionally, the shortage of natural bone grafts and the surge in the number of patients with rheumatoid arthritis, osteoarthritis, neuropathic arthropathy, and other joint disorders are further anticipated to raise the demand for synthetic bone graft substitutes. Such factors are anticipated to drive the growth of the global synthetic bone graft substitutes market in the coming years.
Challenges
Complications Faced by Patients Post Bone Grafting Treatment to Lower Market Growth
The treatment of synthetic bone grafting substitutes in patients can cause numerous problems as these substances are fragile when it comes to resisting torsion and bending while carrying the load. While assessing treatment planning, clinicians generally fail to understand the relationship between the limitations of various regenerative grafting techniques and the predictable development of the required bone contours and bone volume needed for overall restorative success, which is anticipated to limit the growth of the global synthetic bone grafting substitutes market during the forecast period.
Impact of COVID-19 on Global Synthetic Bone Grafting Substitutes Market
The ongoing COVID-19 pandemic has caused industries to face severe challenges, primarily due to the wrecked-up production and supply chain, and for the stringent measures taken by the government of nations globally to curb the spread of the virus. Although, the healthcare industry observed significant demand for treatments related to the pandemic, yet, there was a significant decline in the number of patients visiting hospitals for orthopedic disorders, and hence the decline in the consumption of the products.
Top Featured Companies Dominating the Market
Some of the prominent industry leaders in the global synthetic bone graft substitutes market are Baxter International, Inc., DePuy Synthes Companies, Wright Medical Group N.V., Medtronic, Arthrex, Inc., Kuros Biosciences, Zimmer Biomet, Stryker, Biomatlante, and Bioventus LLC.
