Global Synthetic Bone Graft Substitutes Market Outlook 2028

Global Synthetic Bone Graft Substitutes Market Analysis 2019-2028

The repairing, replacing, or rebuilding missing, diseased or damaged bones by the transplantation of the bone with a synthetic bone graft is defined as synthetic bone graft substitutes. These substitutes are usually made up of ceramic, polymer or composite material. The global synthetic bone graft substitutes market is anticipated to grow with a CAGR of 7.4% during the forecast period, i.e., 2020-2028. Factors such as the increasing number of product developments for developing substitutes for bone-related surgeries, and the increasing prevalence of chronic bone diseases, are anticipated to promote the growth of the global synthetic bone graft substitutes market. Additionally, factors such as the increasing geriatric population, rising awareness for synthetic bone graft substitutes and the increasing prevalence of orthopedic disorders are anticipated to drive the market growth.

The global synthetic bone graft substitutes market consists of segments that are segmented by material, application, end-user, and by region. The application segment is further divided into spinal fusion, hip surgery, knee surgery, shoulder surgery, upper limb surgery, lower limb surgery, craniomaxillofacial, hand & foot surgery, dental bone grafting, and other surgeries. Out of these segments, the spinal fusion segment is projected to hold the largest market share by the end of 2028 owing to the numerous benefits associated with the treatment process. Spinal fusion treatment reduces symptoms of numerous back problems and relieves discomfort in patients undergoing grafting surgery. Moreover, this process is also one of the most common surgery procedures.

Based on region, the global synthetic bone graft substitutes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America is projected to grow with a CAGR of around 6% during the forecast period on account of the rising demand for cost-effective and efficient synthetic bone grafts, increasing number of orthopedic surgical procedures, and rising awareness about the commercially available advanced synthetic bone graft substitute products among others.

Some of the prominent industry leaders in the global synthetic bone graft substitutes market are Baxter International, Inc., DePuy Synthes Companies, Wright Medical Group N.V., Medtronic, Arthrex, Inc., Kuros Biosciences, Zimmer Biomet, Stryker, Biomatlante, and Bioventus LLC.