Bone Grafts And Substitutes Market to grow at a CAGR of 9.45% during 2024-2028
The Bone Grafts And Substitutes Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1719.4 million. The minimally invasive bone grafting technique is experiencing substantial adoption in the healthcare industry due to its numerous advantages. This approach offers reduced pain and discomfort, lower risks of infection and bleeding, shorter hospital stays, and minimal scarring. The novel bone grafting method ensures superior bone regeneration outcomes with fewer complications, requiring only a smaller incision. In the realm of orthopedics, minimally invasive surgery is utilized for various procedures, including arthroscopy, knee and hip replacement surgeries, and spine fusion. This method is particularly preferred for treating sports-related injuries, making it a game-changer in the bone grafts and substitutes market.
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Technavio analysts predict that the Xenografts subsegment will lead the Product segment during 2024 and 2028 Xenografts, biological transplants derived from closely related species, represent a significant segment in the bone grafts and substitutes market. These grafts function as protective coverings for wounds, alleviating pain, and enhancing moisture and heat retention. The increasing prevalence of orthopedic injuries, such as those affecting the knee and hip, fuels market growth. Advanced technologies, including 3D-printed implants, further expand opportunities. In dentistry, xenografts are predominantly porcine and bovine in origin, sourced from meticulously cleaned, sterilized, and prepared animal tissues.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish growing orthopedic conditions and surgical cases
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The global bone grafts and substitutes market is witnessing significant growth due to the increasing number of orthopedic procedures, spinal injuries, bone fractures, and dental applications. Surgeons are increasingly using bone grafts and substitutes in procedures such as spinal fusion, joint reconstruction, hip fractures, and facial fractures. The market includes various types of bone grafts and substitutes, including putties, pastes, granules, and powders. Bone grafts are obtained from human or animal sources, while synthetic substitutes are gaining popularity due to their availability, ease of use, and reduced risk of disease transmission. The geriatric population, with an increased susceptibility to bone fractures due to falls and road accidents, is a significant consumer of bone grafts and substitutes. Synthetic substitutes, including calcium phosphate, hydroxyapatite, and polymethylmethacrylate, are increasingly used in minimally invasive surgeries. Regulatory authorities, such as the FDA and European Commission, have set stringent regulations for the production and use of bone grafts and substitutes, ensuring their safety and efficacy. The market is expected to continue growing due to the increasing prevalence of bone cancer, sports injuries, and other conditions requiring bone grafts and substitutes.
The life sciences tools and services sector, a significant segment of the global life science market, encompasses businesses specializing in Research and Development (R&D) of various product categories, including capital equipment, instruments, accessories, and consumables. These tools and services are integral to the pharmaceutical, biotechnology, and laboratory diagnosis industries. Moreover, life sciences-related services, such as contract research, manufacturing, and sales, are also included in this market. According to Technavio, the global healthcare industry's size is determined by the consolidated revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services. The growth of the global life science tools and services market will be fueled by the increasing global population aging, with a predicted rise in the proportion of individuals over 60 years.
The Bone Grafts And Substitutes Market is experiencing significant growth, fueled by the growing orthopedic conditions and surgical cases. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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