The global bone graft substitutes market size is expected to reach USD 3.93 billion by 2027 while exhibiting a CAGR of 5.1% between 2020 and 2027. This is attributable to the increasing R&D initiatives and the growing adoption of synthetic bone graft substitutes globally. Fortune Business Insights in its latest report, titled, “Bone Graft Substitutes Market Size, Share & COVID-19 Impact Analysis, By Type (Autograft, Allograft, Demineralized Bone Matrix (DBM), Synthetic, and Xenograft), By Application (Spinal Fusion, Joint Reconstruction, Foot & Ankle, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 3.18 billion in 2019.
United States, Canada and Mexico
Germany, UK, France, Italy, Russia and Turkey etc.
China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc.
Brazil, Argentina, Columbia etc.
Middle East & Africa
Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Get Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/sample/bone-graft-substitutes-market-103106Delayed Surgical Procedures to Foster Market Growth
The market was negatively affected during the COVID-19 pandemic due to delayed surgical procedures. The rapid spike in COVID-19 patients resulted in lack of hospital beds and equipment required for surgeries. Furthermore, reduction of patient visits may decline substitutes’ demand. However, lockdown relaxations enhanced hospital visits, thereby enhancing the product adoption. This factor fueled the market progress during the pandemic.
Production of Technological Advanced Bone Graft Substitutes to Fuel Industry Growth
Bone graft substitutes are biologics used in place of autologous bone grafts. They treat bone defects, non-union or union surgeries, and spinal fusion. Rapid technological advancements in substitutes may elevate its demand. Further, increasing lumbar spine surgeries may bolster the surgical procedure’s adoption. For example, according to the NCBI’s report, in December 2018, lumbar spine fusion surgeries witnessed a rapid spike of 26 per 100,000 adults. These factors may bolster the bone graft substitutes market growth.