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The global bone graft market is growing due to the advancements in the bone graft techniques, and extensive research and development activities. The increasing healthcare provider’s compliance for bone graft techniques in the emerging economies is creating abundant opportunities for the growth of the global bone graft market. The advanced research and development activities, and new product developments by the major players are supporting the growth of cost effective and efficient bone graft procedures, which is further fuelling the growth of the global bone graft market.
The increasing number of mergers and acquisitions is a key trend witnessed in the global bone graft market. Bone graft refers to medical procedure for the treatment of the bone and joint associated problems. Bone graft is used for transplanting bone tissue, in order to repair diseased bones in spine, knees, hips, and other bones and joints. Bone grafts are mainly of two types – autografts and allografts. Autograft procedure utilizes the bone tissue from other skeleton parts of the individual requiring bone graft; whereas, allograft procedure utilizes bone tissue for transplantation from a different donor. A surgeon may ask for bone graft in several medical conditions, such as autoimmune disorder and diabetes, slowed healing process due to the use of nicotine, spinal procedures, and bone or disc material removal during surgery.
Some of the factors driving the growth of the global bone graft market are increasing number of surgical procedures, such as joint reconstruction and spinal fusion surgeries, growing geriatric population, increasing prevalence of chronic diseases, growing healthcare expenditure, and increasing healthcare provider’s adherence for allograft. In addition, the development of advanced bone graft techniques and increasing incidences of bone fractures are expected to drive the growth of the global bone graft market, during the projected period. However, the high cost associated with the bone graft techniques, lack of reimbursement, availability of substitutes of bone graft, and lack of skilled professionals are some of the factors, restraining the growth of the global bone graft market.
Geographically, North America leads the global bone graft market, due to increasing geriatric population, growing number of surgical procedures, and high healthcare expenditures. In addition, huge investment by key players for the development of bone graft and high awareness among the healthcare providers regarding the importance of bone graft techniques are propelling the growth of the bone graft market in the region. Asia-Pacific is the fastest growing region in the global bone graft market. The fastest growth of the region is attributed to the increasing healthcare expenditure, presence of large pool of patients, and growing adoption of bone graft techniques. Moreover, the global bone graft market is growing due to improving healthcare infrastructure, and increasing number of spinal and reconstruction surgeries in the emerging countries of Asia-Pacific, such as India and China.
Some of the key players operating in the global bone graft market are Biomet Inc., BioMimetic Therapeutics Inc., Stryker Corporation, RTI Surgical Inc., AlloSource, Depuy Synthes (a part of Johnson and Johnson Services Inc. companies) NovaBone Products LLC, Exactech Inc., Integra LifeSciences Corporation, Medtronic, NuVasive Inc., Smith & Nephew PLC, Wright Medical Technology Inc., LifeNet Health, and Zimmer Biomet.