Bone Graft And Substitutes Market - Future Trends & Revenue GrowthPosted by Ryan Shaw on March 26th, 2021 The global Bone Graft And Substitutes Market size is expected to reach USD 4.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.8% from 2021 to 2028. The synthetic segment is anticipated to show significant growth over the forecast period. This growth is due to the lesser risk of disease transmission, better acceptance among patients as compared to allografts, and products’ better biocompatibility. However, the demand for orthopedic devices, which include bone graft and substitutes observed a radical decrease because of the rescheduling of elective surgeries during COVID-19. Growing cases of spinal deformities are the key driver of this market. According to a CDC report, approximately 60.0% of the aged population and 32.0% of the adult population is suffering from spinal deformities, in the U.S., as of 2017. Around 488,000 spinal procedures were performed in the U.S. Moreover, the introduction of biocompatible synthetic grafts is also expected to drive the market. Additionally, technological advancements and the growing geriatric population are also boosting the market growth. According to Population Reference Bureau’s 2018 statistics, from 13 countries to around 82 countries across the globe are expected to have more than 20% of the geriatric population (65 years and above) by 2050. Thus, perpetual growth in the population aged 60 years and above is anticipated to result in an increased prevalence of arthritis and joint disorders. The market in various countries is expected to witness diverse trends because of ethical issues in some of the Muslim and Jewish population dominated countries. These countries include majorly the Middle Eastern countries, which are apprehensive about using xenografts for their orthopedic surgeries. Such factors hamper market growth drastically. Key players in the market are investing in the launch of new products and product approvals for sustaining in the market. For instance, AlloSource stated that ProChondrix CR would have 2 years of shelf life based on the results of real-time testing, as of March 2019. ProChondrix CR helps in cartilage healing and is intended to match biochemical and biomechanical properties of normal hyaline cartilage, improve patient symptoms, and restore a smooth articular cartilage surface. Related Press Release @ Bone Graft And Substitutes Market Report Bone Graft And Substitutes Market Report Highlights
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