BONE GRAFT AND SUBSTITUTES MARKET ANALYSIS

Regional Analysis

Global Bone Graft and Substitutes Market- Regional Analysis

Regional segmentation of the global bone graft and substitutes market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold a dominant position in the global bone graft and substitutes market over the forecast period, owing to factors such as advancements in the field of bone grafting technology and bone graft and substitutes by the key players in the region. For instance, the U.S-based Artoss, Inc. incorporated nano-biology and nanotechnology while manufacturing artificial bone grafts. The company launched NanoBone granules in 2015, followed by NanoBone SFX putty in 2016. Moreover, Thermo Fisher Scientific Inc., EverlyWell, Inc., Lactation Lab, and OmegaQuant, LLC are some of the U.S.-based companies that offer various types of bone graft and substitutes market in the region.

Moreover, Europe is expected to witness significant growth in the global bone graft and substitutes market over the forecast period, owing to rising number of implant procedures performed in the European countries that are expected to drive demand for bone graft and substitutes in Europe. For instance, according to Meddevicetracker, over 56,000 shoulder arthroplasty surgeries were performed in Europe in 2015. New generation implants such as bone grafts have demonstrated improved clinical outcomes thereby reducing the complications.

Furthermore, Asia Pacific is expected to witness significant global bone graft and substitutes market growth, owing to increasing initiatives by Asia Pacific countries such as China, Japan and India in the development of innovative products of bone graft and its substitutes. For instance, the National Chemical Laboratory, Pune (India) developed two new bone graft substitutes PoroSyn and SynOst (bioactive synthetic bone graft granules and putty) in May 2017 that aims to augment and regenerate the bones lost during an accident, disease or injury.

Figure 2: Global Bone Graft and Substitutes Market Share (%), By Region, (2019 & 2027)

Source: Coherent Market Insights Analysis (2019)