Bone Graft Substitutes Market: Surge in the Number of Spinal Fusion Surgeries Worldwide to Drive the Market
Wilmington, Delaware, United States, Transparency Market Research Inc. – According to Transparency Market Research’s latest research report on the global bone graft substitutes market for the historical year (2018), base year (2019), and the forecast period (2020–2030), rise in prevalence of bone and joint disorders, technological advancements, increase in government initiatives for joint replacement surgeries, and surge in the number of healthcare facilities are projected to drive the global bone graft substitutes market in the near future
According to the report, the global bone graft substitutes market was valued at US$ 2.9 Bn in 2019 and is anticipated to expand at a CAGR of 3.4% from 2020 to 2030
Rise in Prevalence of Degenerative Joint Diseases to Propel Global Market
Growth of the global bone graft substitutes market is expected to be driven by rise in prevalence of degenerative joint diseases.
Orthopedic injuries are a major health issue in young as well as the geriatric population. Rheumatoid arthritis and osteoarthritis are highly common orthopedic diseases among the geriatric population. In the U.S., osteoarthritis affects nearly 27 million people, out of which 16 million to 20 million are aged between 25 and 74. The chance of developing osteoarthritis of the knee and hip in a lifetime is 45% to 25%, respectively. According to the Arthritis Foundation, 14 million individuals in the U.S. had symptomatic knee osteoarthritis in 2016.
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According to the Centers for Disease Control and Prevention (CDC), an estimated 67 million people in the U.S. above 18 years of age are expected to be diagnosed with arthritis by 2030.
Increase in Geriatric Population to Drive Bone Graft Substitutes Market
Risk of spinal injury increases with age. Aging decreases bone mineral density, making the bones porous and more prone to fractures. According to the International Osteoporosis Foundation, around 3.5 million cases of fracture, including spinal fractures and others, occurred in Europe in 2010, and the number is expected to reach 4.5 million by 2030.
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High Cost of Surgery to Hamper Global Market
Bone graft substitutes are a long-term solution to bone disease treatment; however, these are expensive. No two patients or their customized bone grafts and substitute treatments are exactly alike. Hence, the number of appointments, procedures, and costs vary accordingly. Surgeons charge US$ 35,000 to US$ 40,000 for a complex posterolateral lumbar spine fusion bone graft surgery.
Bone Graft Substitutes Market: Competition Landscape
This report profiles major players operating in the global bone graft substitutes market based on attributes such as company overview, financial overview, product portfolio, major brands, business strategies, and recent developments.
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The global bone graft substitutes market is highly competitive, with the presence of prominent players in the international market. The top players hold majority share of the global bone graft substitutes market.
Prominent players operating in the global bone graft substitutes market include
- DePuy Synthes
- RTI Surgical, Inc.
- Integra LifeSciences
- NuVasive, Inc.
- Wright Medical Group N.V.
- Xtant Medical
- Zimmer Biomet
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