In 2022, the global orthopedic bone graft substitutes (BGS) market was valued at approximately $2 billion. Compared to 2022, the market was valued at slightly under $2 billion in 2021 because of COVID-19. In spite of this, the global orthopedic bone graft substitute market is expected to reach $2.7 billion by 2029. In seven years, how will this global market change? Let’s take a look at the picture.
WHICH SEGMENTS ARE INCLUDED IN THE GLOBAL ORTHOPEDIC BONE GRAFT SUBSTITUTES ANALYSIS?
Allograft bone grafts eliminate the need to harvest bone and other tissues from a patient, which decreases surgical time and thus procedural costs.
Demineralized Bone Matrix Allograft BGS
Like standard allograft bone grafts, DBM reduces or eliminates the need for autograft harvesting of bone. The product comes in many forms, including chips, granules and putties, but it is putties that are the most preferred for their handling properties.
Synthetic grafts are often seen as safer than allografts. They pose no threat of disease transmission, and they cannot be rejected, as they are not made from foreign tissue. Also, they cause no unwarranted side effects from growth factors.
WHAT DOES THE FUTURE HAVE IN STORE FOR THE ORTHOPEDIC BONE GRAFT SUBSTITUTES MARKET?
The total market value for orthopedic bone graft substitutes dropped significantly in 2020 due to sharp contractions in economic activity triggered by the COVID-19 pandemic. There has been a notable rebound in 2022, as more elective procedures are able to be conducted. More procedures shifted to non-hospital settings as a result of the pandemic and hospitals remaining at or over capacity. Additionally, no long-term negative impacts from COVID-19 are expected for the forecast period.
In 2022, synthetic bone grafts accounted for the largest portion of the global orthopedic biomaterials market. The synthetic bone graft segment remained larger than the DBM segment due primarily to stronger unit sales growth in the global market. Synthetic grafts are more commonly used in spinal surgeries instead of applications involving larger volumes, as with fracture repair.
Looking into 2027, the DBM space is expected to shift more towards products without carriers. However, the high cost of these products will remain a barrier to entry. Despite this, the global orthopedic bone graft substitute market is projected to continue growing at a steady rate. Increased competition across manufacturers and hospital consolidation are expected to lead to lower unit prices for bone graft substitutes as the market grows.
WHAT COMPANIES ARE COMPETING IN THE OVERALL MARKET?
Stryker, Medtronic, and DePuy Synthes are the three market leaders.
Stryker held the largest share of the total orthopedic bone graft substitutes market in 2022. The company completed the acquisition of Orthovita in May 2011, which allowed Stryker to acquire its synthetic product Vitoss™. Vitoss™, and the related Vitoss™ Bioactive bone graft substitute (which contains a unique bioactive additive), helped Stryker move quickly to the top of the synthetic market.
Medtronic follows Stryker and acts as the second-leading competitor in the total BGS market. This was due to a leading share in the demineralized bone graft market, as well as a strong performance in the rapidly growing synthetic bone graft market. Furthermore, Medtronic’s growth factor, INFUSE®, drives the volume demand for its bone graft substitute portfolio.
DePuy Synthes held the third-largest share of the total orthopedic bone graft substitutes market in 2022. This was because it placed second in both the demineralized bone graft segment and the synthetic bone graft segment, with a consistent presence in the market year over year.
IN SUMMARY: GLOBAL ORTHOPEDIC BONE GRAFT SUBSTITUTES MARKET
There are several exciting trends and interesting shifts taking place in the global orthopedic bone graft substitute market over the next 7 years, indicating an upward trajectory for the market. To receive a complimentary executive summary of this report, fill out the form below: