The company’s latest report identifies key drivers of this growth as companies’ continued efforts on product innovation and line extension to create a comprehensive orthobiologics platform, and ongoing research for materials that promote the healing triad (osteoinductivity, osteoconductivity, and osteogenesis). The market will also be boosted by rising procedure volumes of spinal fusion, trauma fixation, and joint reconstruction.
“The composition of the bone grafts and substitutes market in the forecast period will largely be shaped by expanded adoption and utilization of demineralized bone matrices, synthetic bone substitutes, and cell-based matrices," said Jennifer Ryan, healthcare analyst. “The use of bone morphogenetic protein products, previously the largest bone substitute contributor, is declining due to the negative media attention surrounding Medtronic’s INFUSE Bone Graft and ongoing debates about the product's off-label usage and cancer-related complications. As a result, the need for clinical transparency and investment in solid clinical efficacy data will be necessary for a product to secure a long-term foothold in the market.”
The bone grafts and substitutes space is highly populated, with players ranging from small orthobiologics startups to medical device multinationals. Three major players—Medtronic plc, DePuy Synthes, and Stryker Corp.—dominate the global space due to the companies’ far-reaching distribution networks and established presence in complementary markets, including spinal fusion and trauma fixation.
In terms of market share across North America, the United States represented the largest portion of the market in 2016, holding over 95 percent of the regional revenue, and GlobalData expects the United States to maintain this dominance through the forecast period. Canada is forecast to be the fastest-growing market through 2023, at a CAGR of 6.6 percent, while the slowest growth will be observed in Mexico at a CAGR of 2.1 percent.
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