According to Precision Business Insights (PBI), the latest report, the bone substitute and allograft bone market is expected to be worth USD 3.3 billion in 2022, growing at a 6.1% CAGR from 2022 to 2028.
According to Precision Business Insights (PBI), the latest report, the bone substitute and allograft bone market is expected to be worth USD 3.3 billion in 2022, growing at a 6.1% CAGR from 2022 to 2028. The number of persons suffering from degenerative joint illnesses has increased dramatically in recent years all over the world. Furthermore, osteoarthritis and rheumatoid arthritis are two of the most frequent health problems worldwide. The global bone graft replacements market is expected to grow due to the increasing number of individuals suffering from these ailments. Furthermore, growing medical and dental tourism, the rising prevalence of dental illnesses, and technological breakthroughs in dentistry are crucial factors driving the market's expansion. The growing prevalence of oral problems is propelling the industry forward. For instance, according to the World Health Organization (2020), oral diseases affect nearly 3.5 billion people, and over 530 million children suffer from caries of their primary teeth.
Allograft Segment to Dominate the Bone Substitute & Allograft Bone Market:
The allograft segment is expected to account for a larger revenue share in the global bone substitute & allograft bone market, with a value share worldwide. It is projected to grow at a 5.9% CAGR between 2022 and 2028. Features such as rapid structural support and osteoconductive of allografts drive its uptake among healthcare professionals. Furthermore, allografts do not require a second operation bone, resulting in faster wound healing and shorter surgery times. Allografts are frequently utilized in the spine, hips, and knees. Demineralized bone matrices, such as chips, pellets, and granules, are readily available in various sizes and shapes. Furthermore, allografts exhibit both osteoinductive and osteoconductive capabilities, increasing their attractiveness and, as a result, market growth.
Asia Pacific Bone Substitute & Allograft Bone Market:
The Asia Pacific market is expected to increase in the global bone substitute & allograft bone market over the forecast period. It is projected to grow at a CAGR of 7.0% in the coming years. Due to increased patient understanding of the use of bone graft substitutes for treating orthopedic conditions, a rise in chronic bone diseases, improved healthcare spending in many developing countries, and an increase in the number of spinal fusion and orthopedic surgeries in the Asia Pacific, are projected to drive the market significantly during the forecast period. The rising use of allografts and other alternative products, a consistent supply of orthopedic equipment, and a growing acceptance of autograft bone are propelling China's bone grafts and substitutes market.
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global bone substitute & allograft bone market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Mach 2022, BBS-Bioactive Bone Substituents Plc. Applied to the Europeans Union for the C.E. marking Artebone bone filler substitute.
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The bone substitute and allograft bone market detailed segmentation: Based on the product:
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Key players profiles in the Bone Substitute & Allograft Bone market report are AlloSource, DePuySynthes, Inc., Baxter, Nuvasive, Inc., Smith & Nephew, Medtronic, Orthofix Holdings, Inc., TBF Tissue Engineering, OST Development, Zimmer Biomet, and Wright Medical Group N.V.
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