Portland, OR, March 23, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bone grafts and substitutes market generated $2.58 billion in 2021 and is estimated to reach $4.0 billion by 2031, witnessing a CAGR of 4.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.58 Billion |
| Market Size in 2031 | $4.0 Billion |
| CAGR | 4.5% |
| No. of Pages in Report | 407 |
| Segments covered | Type, Application, End User and Region |
| Drivers | An increase in the number of spinal & joint construction surgeries & trauma cases |
| A rise in the prevalence of orthopedic disorders | |
Opportunities | An increase in the geriatric population |
| An increase in the prevalence of arthritic conditions in the elderly population | |
Restraints | Expensive bone grafting and replacement procedures |
| Limited reimbursement policies for bone graft and replacement procedures |
Impact of Covid-19 on Bone Grafts and Substitutes Market:
- The outbreak of COVID-19 had disrupted workflows in the healthcare industry worldwide.
- A number of industries, including some parts of the healthcare industry, were temporarily forced to shut down due to the disease. The pandemic led to reduced patient visits at hospitals for preventive services like patient screening of diseases such as orthopedic disorders.
- The number of patient visits also significantly decreased during the lockdown. This resulted from medical procedures being postponed and orthopedic injuries being delayed preventing the COVID-19 infection from spreading.
- However, as the global pandemic situation improved, the market has now got back on track.
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The report offers a detailed segmentation of the global bone grafts and substitutes market based on type, application, end user and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
By type, the bone grafts substitute segment held the largest share in 2021, accounting for more than half of the global bone grafts and substitutes market and would dominate the market in terms of revenue through 2031. However, the cell-based matrices segment would cite the fastest CAGR of 5.1% throughout the forecast period. The allografts segment is also studied in the report.
By application, the spinal fusion segment held the major share in 2021, garnering nearly half of the global bone grafts and substitutes market revenue and is projected to maintain the lion’s share through 2031. On the other hand, the joint reconstruction segment would portray the fastest CAGR of 5.3% throughout the forecast period. The trauma, dental bone grafting and craniomaxillofacial segments are also discussed in the report.
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By end user, the hospitals segment accounted for the highest share in 2021, holding nearly three-fourths of the global bone grafts and substitutes market revenue, and is expected to maintain its lead in terms of revenue during the forecast period. The specialty clinics segment, however, is estimated to grow at the highest CAGR of 5.0% throughout the forecast period. The others segment is also discussed in the report.
By region, the North American market held the largest share in 2021, contributing to nearly three-fifths of the global bone grafts and substitutes market revenue, and is projected to maintain its dominant share in terms of revenue during the forecast period. On the other hand, the Asia-Pacific market is expected to manifest the fastest CAGR of 5.3% during the forecast period. The other regions analyzed in the study include Europe and LAMEA.
The leading market players analyzed in the global bone grafts and substitutes market report include,
- Orthofix Holdings Inc.
- Nuvasive Inc.
- Zimmer Biomet Holdings Inc.
- Baxter International Inc.
- Xtant Medical Holdings Inc.
- Arthrex Inc.
- Johnson & Johnson
- Stryker Corporation
- Integra LifeSciences
- Medtronic PLC
These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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