Bone Substitutes and Bone Allografts Market Was Valued at US$ 216.5 Mn in 2017, Driven by Increase in the Incidence of Bone and Joint Fractures
Analyst Speak:
“The Bone Substitutes and Bone Allografts Market was valued around US$ 216.5 Mn in 2017 and growing at a significant CAGR over seven years forecast period 2018–2024 owing to increase in the incidence of bone and joint fractures”
Precision Business Insights (PBI) in its report titled “Bone Substitutes and Bone Allografts Market: Market Estimation, Dynamics, Country Share, Trends, Competitor Analysis 2016–2017 and Forecast 2018–2024” assesses the market performance over seven years forecast period. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The bone substitutes and bone allografts market was valued at US$ 216.5 Mn in 2017 and growing at a significant CAGR over the forecast period owing to increase in the incidence of bone and joint fractures across the countries. Additionally, increase in the geriatric population, rise in R&D for the development of innovative products, and product launchings by market players are expected to propel the market revenue growth over the forecast period. However, the high cost associated with the surgical procedure, stringent regulatory guidelines, and risk of transmission of disease may hinder the growth of bone substitutes and bone allografts market over the forecast years.
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Bone substitutes and bone allografts market segmented on the basis of product type and country
Bone Substitutes segment accounted for higher revenue share
Based on product type, bone substitutes are segmented into hydroxyapatites, calcium phosphate, calcium sulphate, and bioactive glass. Hydroxyapatite bone substitutes segment accounted for larger revenue share in 2017 and projected to dominate over the forecast period owing to increase in the launch of newer products into market. However, bone allografts segment projected exhibit lucrative growth, which is mainly attributed to adoption of newer technologies for the development of innovative allografts.
Japan leads the Bone Substitutes and Bone Allografts market
PBI’s bone substitutes and bone allografts market report analyses the market in different countries such as Japan, Brazil, India, Australia & New Zealand, and China. According to country analysis, Japan accounted for larger revenue share through 2016–2017 and the same trend is projected to follow over 2018–2024 owing to rise in geriatric population and launch of newer products in the country. China bone substitutes and bone allografts market projected to exhibit significant growth owing to increase in the prevalence of bone disorders such as osteoporosis.
New product launches, patent filings, and strategic alliances are the key strategies adopted by the market players
Bone substitutes and bone allografts market further reveals that the key players are increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance. In March 2018, EthOss Regeneration Ltd obtained TGA approval for EthOss, a synthetic bone graft solution for dental implants
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Key player’s profiles in the report are Medtronic (U.S), Stryker Corporation (U.S), Smith and Nephew Inc. (U.S), NuVasive, Inc. (U.S), Wright Medical Group N.V (U.S), Zimmer Biomet (U.S.), Biocomposites, Inc. (U.S.), and Baumer S.A. (Brazil)
Detailed Segmentation
By Product Type
o Bone Substitutes
• Hydroxyapatites (HAp)
• Calcium Phosphate
• Calcium Sulphate
• Bioactive Glass
o Bone Allografts
• Freeze Dried
• Demineralized Bone Matrix
Geography
• Japan
• Brazil
• India
• Australia 7 new Zealand
• China
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