The global bone grafts & substitutes market size was US$ 2.7 billion in 2021. The global bone grafts & substitutes market size is forecast to reach US$ 3.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030.
Bone grafts are implantable materials with osteoconductive, osteogenic, and osteoinductive qualities. In addition, it facilitates bone healing, bone production, and osseous reconstruction. Sports, trauma, plastic, facial, and spinal operations all use them. They can also utilize to fill cavities in the absence of bones or aid in providing structural support. Bone grafting is a surgical treatment that involves using a substance (bone graft) from a patient's own body, a cadaver, an animal, or a different person to replace a missing or defective bone. It helps for wound healing, difficult fracture therapy, and other things.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the medical device companies in the bone grafts & substitutes industry. Leading Companies faced a setback due to the lockdown imposed by the government, which has led to disturbances in the supply chain movements globally. In addition, prominent players faced issues concerning the availability of human resource for manufacturing bone grafts & substitutes at production facilities. Additionally, end-users such as hospitals and clinics reported declining inpatient visits due to the lockdown restrictions.
Regional Insights
North America garnered the maximum share in the market in 2021 and is forecast to maintain its position over the forecast period. As a result of the rising awareness associated with the commercially available innovative products, accessibility of well-developed healthcare infrastructure, and higher healthcare expenses. The market in the U.S. is leading North America by developing the highest demand for bone grafts and substitutes owing to the increasing number of trauma-related injuries and cases of orthopedic disease. Thus, these factors are forecast to fuel the market growth in the region.
Leading Competitors
The leading prominent companies profiled in the global bone grafts & substitutes market are:
Scope of the Report
The global bone grafts & substitutes market segmentation focuses on Product, Application, and Region.
Segmentation based on Product
Segmentation based on Application
Segmentation based on Region