Aging Population and Rising Prevalence of Degenerative Intervertebral Disc Diseases to Drive Bone Grafts Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) January 31, 2014 -- Follow us on LinkedIn - Bone is the second largest transplanted tissue after blood. Bone grafting are procedures designed to restore or repair the functional performance of deformed and damaged skeletal structures, in the process encouraging re-growth of new bone tissues. Increasing prevalence of arthritic conditions such as osteoporosis and osteoarthritis as well as rising popularity of minimally invasive treatments are enhancing the need for bone implant procedures, thereby generating strong demand for bone grafts. The most common use of bone grafts is in spinal fusion, where autogenous bone grafts are considered as the gold standard for bone grafting procedures. However, autogenous bone grafting and allograft procedures are increasingly being replaced by bone graft substitutes in orthopedic and dental procedures, due to challenges associated with conventional autografts and allografts such as high risk of disease transmission, need for multiple surgeries, and limited sources for both types of grafts.
All of these factors are driving demand for bone graft substitutes such as demineralized bone matrix (DBM), bone morphogenetic products (BMP), synthetic bone grafts, ceramics, and graft composites. In the coming years, market for bone grafts and bone graft substitutes is expected to witness healthy growth, driven by a number of factors including aging population, increasing number of orthopedic surgeries, advances in bone graft materials, and development of innovative products. Rising incidence of obesity and the subsequent rise in incidence of conditions such as osteoarthritis and arthritis is also expected to enhance the need for bone grafting procedures. While the potential for growth is immense, factors such as limited government spending, lack of adequate reimbursement, and low awareness on tissue recovery and regeneration continue to pose challenges. In particular, cost cutting measures of governments across the world hold the potential to stifle funding for research initiatives. Lack of reimbursement for expensive surgical procedures in developed economies is another factor with the potential to limit adoption of bone grafting procedures, while low awareness on tissue recovery limits the widespread adoption of biologic products.
As stated by the new market research report on Bone Grafts, the United States represents the largest market worldwide. Growth in the country will be driven by increasing adoption of bone graft substitutes for orthopedic procedures, and positive reimbursement policies for orthopedic procedures. Bone graft substitutes also hold an edge, as they eliminate the need for harvesting bone from the patient’s body, thereby reducing the cost and time associated with the surgery. Emerging nations are forecast to fuel growth in the coming years supported by increased focus on low-cost bone grafts and substitute products, rise in the number of sports related injuries, increase in surgeries performed on the elderly, and rising number of road accidents.
Stem Cell Based Bone Grafts are expected to witness fastest growth during the analysis period. Orthopedic stem cells are expected to grow despite challenges from the FDA in the form of stringent regulations and high scrutiny regarding the composition and classification of products. Low cost and faster recovery period compared to other bone graft substitutes, as well as the ability to mimic autologous bone graft are expected to foster growth in the stem cell based bone grafts market. The market for Synthetic Bone Grafts witnessed significant growth over the past few years, due largely to the high risks associated with conventional autograft and allografts. However, synthetic bone grafts are capable of providing only scaffold to facilitate bone growth, and do not possess the osteoinductive characteristics that are essential to encourage growth of new bone. Growing awareness among patients and physicians about the advantages of synthetics over cadaveric allografts, and the strict regulatory norms governing clinical trials and approvals have inspired confidence in synthetic bone grafts.
Major players covered in the report include AlloSource, Biomet Inc., DePuy Synthes, Exactech Inc., Integra LifeSciences Holdings Corporation, LifeNet Health Inc., NovaBone Products LLC, Medtronic Inc., NuVasive Inc., Olympus Biotech Corporation, RTI Surgical Inc., Smith & Nephew Plc, Stryker Corporation, Wright Medical Technology Inc., and Zimmer Holdings Inc. among others.
The research report titled "Bone Grafts: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of trends, issues, strategic industry activities of major companies worldwide. The report provides market estimates and projections for Bone Graft Substitutes for global and major geographic markets such as the US, Europe, and Rest of World. The US market for Bone Graft Substitutes is analyzed by segments such as Standard Allografts, Machined Bone Allografts, Demineralized Bone Matrix (DBM), Bone Morphogenetic Protein (BMP), Stem Cell Based Bone Grafts, and Synthetic Bone Grafts.
For more details about this comprehensive market research report, please visit: http://www.strategyr.com/Bone_Grafts_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 (408) 528-9966, [email protected]
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