Global Bone Grafts and Substitutes Market Set for Significant Growth, Expected to Reach USD 6.3 Billion by 2032 | FMI

North America holds over 40% of the Bone Grafts and Substitutes Market, driven by growing demand for dental bone grafts and successful implant surgeries.

NEWARK, DE, UNITED STATES, December 18, 2024 /EINPresswire.com/ -- The global bone grafts and substitutes market valued at USD 3.2 billion in 2022, is on track to experience substantial growth, with projections indicating it will reach USD 6.3 billion by 2032. This growth is highlighted in a recent market survey conducted by Future Market Insights (FMI), which identifies key trends and growth drivers within the market.

The spinal fusion segment is poised to be the leading driver of this growth, accounting for a significant portion of the market revenue. The deployment model for spinal fusion procedures is expected to register a compound annual growth rate (CAGR) of 7.1% by 2032, driven by the rising prevalence of spinal cord injuries (SCI) worldwide. As the demand for spinal fusion surgeries increases, so too does the need for effective bone grafts and substitutes to support the healing process and improve patient outcomes.

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The US to Command the Larger Proportion of Bone Grafts and Substitutes Market throughout the Analysis Period:

The US commands 37.3% of the market share and is expected to maintain the position intact with an absolute opportunity growth of USD 1.2 Billion to reach a valuation of USD 2.4 Billion by 2032. Owing to the rapidly increasing requirement for bone grafts and substitutes in Spinal Cord Injuries (SCIs) cases, its demand in the US is expected to increase. A CDC report has anticipated 67 Million adults in the country to be arthritis patients by 2030, which will increase the demand for bone grafts since it is an essential requirement for arthritis treatment.

“The application of allograft bone grafts in demineralized bone matrices procedures have significant potential to emerge as a key market driver during the forecast period for the Bone Grafts and Substitutes market.” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).

Key Takeaways from the Global Bone Grafts and Substitutes Market:

The global bone grafts and substitutes market is set for impressive growth, with projections indicating an increase from USD 3.2 billion in 2022 to USD 6.3 billion by 2032. This surge in market value is driven by a rising demand for spinal fusion procedures and an increasing number of spinal cord injury (SCI) cases worldwide.

Spinal Fusion: A Key Market Driver

A major contributor to the growth of the bone grafts and substitutes market is the spinal fusion segment. With an anticipated compound annual growth rate (CAGR) of 7.1% by 2032, the need for effective bone grafts to support spinal fusion surgeries is expected to expand as SCI rates continue to rise globally.

Asia-Pacific Region Leads with Growth Potential:

The Asia-Pacific region, led by China and India, is experiencing a surge in the market, fueled by cost-effective synthetic bone grafts and the rise of dental medical tourism. China is forecasted to grow at a CAGR of 9%, reaching USD 475.5 million by 2032. Japan’s market is also on track for significant growth, projected to increase at a 9.2% CAGR, reaching USD 367.8 million by 2032. This growth is driven by technological advancements in the field, such as Medtronic's Grafton DBM. Meanwhile, India is also seeing innovation with new bone graft substitutes like PoroSyn and SynOst, developed by the National Chemical Laboratory, which are expected to support market growth.

North America: Dominant Market with Steady Growth

North America holds over 40% of the global bone grafts and substitutes market share, and it is expected to maintain its dominant position in the coming years. The USA, in particular, is experiencing substantial growth driven by the increasing demand for dental bone grafts, with approximately 5 million dental implant surgeries conducted annually. The market in the USA is projected to grow at a 6.9% CAGR, reaching USD 2.4 billion by 2032. This growth is further propelled by the rising incidence of joint disorders, sports injuries, and spinal cord injury cases, all of which require effective bone grafting solutions.

Key Growth Drivers in the USA

The success of dental implant surgeries and the rising prevalence of joint disorders, including arthritis, are major factors fueling the demand for bone grafts. According to the CDC, 67 million adults in the USA are projected to be diagnosed with arthritis by 2030, significantly increasing the need for bone grafts as a treatment solution.

Conclusion: Robust Market Outlook

The bone grafts and substitutes market is on track for significant expansion, driven by increased demand for spinal fusion surgeries, dental implants, and innovations across the Asia-Pacific region. North America, particularly the USA, remains a dominant force, supported by a growing number of surgical procedures and a rising need for effective bone grafting solutions. With a robust growth trajectory, the market is well-positioned for substantial developments over the next decade.

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Bone Grafts and Substitutes Market: Competition Insights

Currently, Bone Grafts and Substitutes providers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand. The key companies operating in the Bone Grafts and Substitutes market include Allosource, DePuySynthes Inc., Baxter, NuVasive Inc., Smith & Nephew, Medtronic, Orthofix Holdings Inc., TBF Tissue Engineering, Stryker Corporation, OrthoFix Medical Inc., MedBone Biomaterials, and SeaSpine.

The Key Recent Developments of Bone Grafts and Substitutes Manufacturers are as Follows:

• In February 2022, Opus B.A., a highly efficient and synthetic bioactive bone graft solution, was launched by Orthofix Medical Inc. to benefit the process of cervical and lumbar spine fusions.

• In February 2021, Simplify Medical was amassed by NuVasive Inc. to strengthen the company’s cervical portfolio, thus expanding its growth avenues during the forecast period.

• In November 2020, the acquisition of Wright Medical Group N.V. was finalized by Stryker Corporation. The amassing of this medical equipment enterprise specializing in extremities and biologics is anticipated to aid in the enhancement of Stryker Corporation’s bone graft substitute portfolio, in order to expand its position in the market.

• In July 2020, the FDA approved the Altapore Shape bioactive bone graft, by Baxter. The specific attributes of this bone graft among many include enhanced bone growth.

Key Segments Covered in Market Survey:

The Bone Grafts and Substitutes Market is segmented based on material type, deployment mode, and region.

By Material Type:
• Allograft
o Demineralized Bone Matrix
o Other Allografts
• Synthetic
o Ceramics
o Composites
o Polymers
o Bone Morphogenic Proteins (BMP)

By Deployment Mode:
• Craniomaxillofacial
• Dental
• Foot & Ankle
• Joint Reconstruction
• Long Bone
• Spinal Fusion

By Region:
• North America
• Asia Pacific
• Europe
• The Middle East and Africa (MEA)
• Latin America

Explore FMI’s Related Ongoing Coverage On Healthcare Domain:

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The bone growth stimulators market share is projected to be valued at USD 2.1 billion in 2023 and is expected to rise to USD 5.4 billion by 2033. The sales of bone growth stimulators are expected to grow at a significant CAGR of 10.1% during the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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