The Global Bone Graft and Substitutes Market Continues To Rise Owing To the Increase in Spinal and Joint Surgeries in the World Along With the Increase in Medical Tourism

 

Bone Graft and Substitutes can be defined as the fusion of bone tissue from another area of the body onto the bones in a missing area. This process is known as grafting. Since this type of surgery has been around since the late 19th century, it has come to be recognized as a common surgical practice that is capable of filling any bone defect that occurs in an individual. Bone grafts and substitutes have been used for decades. In many cases, this treatment will serve to replace a bone that has been severely damaged through disease or accident.

As stated earlier, the main purpose of bone graft and substitutes is to replace a bone that has been severely affected by illness or disease. In some cases, this surgical procedure may also be required to help treat severe injuries that affect the fusion of the bone tissue and other tissues. Moreover, it may be required as an alternative to open surgery, in which the entire bone of the patient may have to be removed. In these instances, bone graft substitutes or grafts may be used.

An increasing number of reconstructive joint and spinal surgeries is the main factor that is driving the growth of the global Bone Graft and Substitutes Market. For instance, according to the National Institutes of Health (NIH), total joint arthroplasty (TJA) is one of the most successful innervations and cost-effective surgeries. Over 1 million TJAs are performed each in the United States every year and by 2030 it is estimated that the number will increase to 4 million. Moreover, the development of novel bone graft substitutes along with the increasing medical tourism is also enhancing the growth of the global bone graft and substitutes market.

Concerning orthopedic practices in the world, this treatment is very well known. Numerous orthopedic surgeons are trained in this field and a bone graft and substitute are almost always the surgical answer when normal operations do not work. This surgical procedure is also frequently used in combination with joint reconstruction in order to address complex issues that arise during arthroscopic surgeries. However, the cost of bone grafting is the main restraining factor that is hindering the growth of the global Bone Graft and Substitutes Market.

Owing to the increase of spinal and joint surgeries in the region, North America is experiencing high demand in the global bone graft and substitutes market. For instance, according to Becker's Spine Review, every year in the United States around 1.62 million instrumented spinal fusions are performed. Moreover, increasing investments in the healthcare sector of the region is also boosting the market growth. Owing to these factors there have been several industrial developments in the global bone graft and substitutes market. For instance, in November 2020, Stryker acquired Wright Medical Group N.V. in order to expand its portfolio.