The global bone grafts and substitutes market is experiencing outstanding growth, owing to several factors such as the rise in the number of spinal and joint construction surgeries and trauma cases, and an increase in the incidence of orthopedic conditions. Based on region, the market across North America held the major market share over the projected period.
Wilmington, Delaware, Nov. 17, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global bone grafts and substitutes market size is anticipated to gain $4,005.26 million by 2031, having witnessed a value of $2,586.30 million in 2021, exhibiting a remarkable CAGR of 4.5% from 2022 to 2031. The report offers a detailed analysis of recent trends, top segments, key investment pockets, regional analysis, and competitive scenarios. The report helps to provide information for leading market players, emerging competitors, investors, and stakeholders in devising and taking the initiative to bolster their competitive edge.
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Report Coverage & Details:
|Market Size in 2021||$2,586.30 Million|
|Market Size in 2031||$4,005.26 Million|
|No. of Pages in Report||407|
|Segments Covered||Type, Application, End User, and Region|
|Drivers||The rise in the number of spinal and joint construction surgeries and trauma cases|
|An increase in the incidence of orthopedic conditions|
|Opportunities||Growth opportunities in emerging markets|
|The high cost of surgeries|
|Ethical & regulatory concerns related to bone grafting procedures|
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The global bone grafts and substitutes market is grouped into various segments based on type, application, end user, and region. It is offered in both graphical and tabular form, authorizing an individual or a commercial enterprise to benefit perception into the highly profitable and rapidly growing segments.
In terms of type, the bone grafts substitute segment dominates the highest market share in 2021, holding more than half of the global bone grafts and substitutes market revenue, and is expected to lead the trail by 2031. The cell-based matrices segment, on the other hand, would display the fastest CAGR of 5.1% from 2022 to 2031. The allografts segment is also discussed in the report.
In terms of application, the spinal fusion segment garnered the highest market share in 2021, contributing to nearly half of the global bone grafts and substitutes market revenue, and is anticipated to maintain its lead position during the forecast period. Nevertheless, the joint reconstruction segment would exhibit the fastest CAGR of 5.3% from 2022 to 2031. Trauma, dental bone grafting, and craniomaxillofacial segments are also analyzed in the report.
In terms of end user, the hospitals segment held the major market share in 2021, generating nearly three-fourths of the global bone grafts and substitutes market revenue, and is projected to rule the roost by 2031. However, the specialty clinics segment is expected to register the fastest CAGR of 5.0% from 2022 to 2031. The others segment is also explained in the report.
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In terms of region, the market across North America accounted for the largest share in 2021, garnering nearly three-fifths of the global bone grafts and substitutes market revenue, and is expected to maintain its dominance by 2031. Concurrently, the market across Asia-Pacific would exhibit the fastest CAGR of 5.3% from 2022 to 2031. The other provinces studied in the report include Europe and LAMEA.
The report also provides an in-depth analysis of the top players in the global bone grafts and substitutes market, they are as mentioned: Xtant Medical Holdings, Inc., Stryker Corporation, Johnson & Johnson, Integra LifeSciences, Baxter International Inc., Medtronic plc, Nuvasive, Inc., Arthrex, Inc., Zimmer Biomet Holdings, Inc., and Orthofix Holdings, Inc. these leading players have adopted various strategies such as partnerships, agreements, mergers & acquisitions, new technological advances, and new product launches to maintain their foothold in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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