Bone Grafts and Substitutes Market Bending Towards Steady Growth by 2020
(M2 PressWIRE Via Acquire Media NewsEdge) Dublin - Research and Markets (http://www.researchandmarkets.com/research/h677cf/medipoint_bone) has announced the addition of the "MediPoint: Bone Grafts and Substitutes - Global Analysis and Market Forecasts" report to their offering.
The global bone grafts and substitutes (BGS) market value will increase steadily over the coming years, rising from almost $2.1 billion in 2013 to approximately $2.7 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 3.8%, according to a new report from research and consulting firm The authors.
The company's latest report* states that out of the 10 major markets (10MM: the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China and India), the US will continue to hold the largest BGS market share by 2020, with 65.6%. The country can expect to see its own revenue in this field climb from approximately $1.39 billion to $1.78 billion over the forecast period, at a slightly lower CAGR of 3.5%.
Strong driving forces behind the global BGS market include the rising volumes of spinal fusion and joint reconstruction procedures, along with improved accessibility to the latest-generation BGS products in emerging economies and increased public awareness of bone regeneration achieved through biologics.
Linda Tian, MSc, The authors's Analyst covering Orthopedic Devices, says: Furthermore, with an ongoing focus on product innovations among companies, BGS represents one of the most promising areas in the orthopedic industry. Indeed, the motivation to incorporate favorable properties of different materials into an effective bone graft product has led to the manipulation and development of various new composite grafts.
Meanwhile, thanks to an increase in corporate and federal funding behind regenerative medicine, a fast-growing, high-margin opportunity is now being offered in the field of stem cell therapies.
However, a number of barriers will limit any further growth in the BGS market, including negative publicity surrounding Medtronic's INFUSE Bone Graft, the American Food and Drug Administration's increased scrutiny of stem cell-derived products, reimbursement and pricing pressures, and variations in product regulations.
Tian continues: Orthobiologics companies operate in a highly regulated environment. While allografts, bone morphogenetic proteins, demineralized bone matrices (DBMs), synthetic bone substitutes and cell-based matrices are all legally marketed alternatives to autografts, each of these products has a distinct regulatory classification. This calls for different regulatory pathways to be taken in gaining approval prior to marketing.
Additionally, regulations for human tissue-derived bone graft products, such as DBMs, may vary between European countries, adding an extra complication for companies hoping to achieve effective market penetration, the analyst concludes.
This report provides analysis on the bone grafts and substitutes (BGS) market in the 10MM - the US, France, Germany, Italy, Spain, the UK, Japan, Brazil, China and India.
Key Topics Covered:
List of Tables
List of Figures
Clinical Trials to Watch
Current and Future Players
For more information visit http://www.researchandmarkets.com/research/h677cf/medipoint_bone
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