Asia Pacific Bone Grafts & Substitutes Market Size, Share & Trends Analysis Report By Product (Allograft, Synthetic), By Application (Spinal Fusion, Dental, Craniomaxillofacial, Foot & Ankle, Joint Reconstruction, Long Bone), And Segment Forecasts, 2020 - 2027

Report Overview

The Asia Pacific bone grafts and substitutes market size was valued at USD 537.7 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.1% from 2020 to 2027. The market for bone grafts and substitutes is majorly driven by the growing prevalence of orthopedic defects. Moreover, increased medical tourism and government initiatives are further boosting the market. The growing aging population in this region is further increasing the risk of bone diseases and joint problems, thereby propelling the growth of the market for bone grafts and substitutes. Increasing the incidence of bone fractures requiring bone grafting procedures is anticipated to drive the market for bone grafts and substitutes. According to the CDC report, the worldwide incidence of hip fractures is expected to increase by 310.0% in men and 240.0% in women. Osteoporosis is estimated to affect around 200.0 million women worldwide in 2018. The spinal fusion procedure is most common in the age group of 45 to 64. However, it is also performed in young adults due to the increasing incidence of sports injuries.

The increasing adoption of Minimally Invasive Surgeries (MIS) is further increasing the demand for bone grafts and substitutes. Surgeons are opting for MIS rather than open surgery owing to various advantages such as less pain, reduced post-operative duration, and less injury to the tissue. Moreover, the technological advancement of synthetic bone grafts is propelling the market for bone grafts and substitutes. An increasing initiative by the small and large industry players is also boosting the revenue for the market. For instance, in April 2018, AlloSource launched ProChondrix CR for articular cartilage repair in order to increase their market penetration.

Product Insights

Allografts dominated the product segment with a revenue share of around 54.0% in 2019 in the market for bone grafts and substitutes. The adoption of allografts over autografts is increasing rapidly owing to properties such as immediate structural support and osteoconductivity. Demineralized bone grafts are expected to show the fastest growth in the allografts segment over the forecast period owing to technological advancement and new product launches. For instance, in February 2019, Medtronic launched Grafton DBM in Japan which is the first-ever DBM in the country.

The synthetic segment also held a significant share in 2019 in the market for bone grafts and substitutes. The stringent regulatory scenario in some countries such as Japan, Australia, and South Korea limits the growth of allografts in the countries, thus boosting the market for synthetic grafts. For instance, in South Korea, allografts should be approved by the Korean Food and Drug Administration (KFDA). In the case of Australia, the products are regulated by the Therapeutic Goods Administration (TGA). In addition, a rise in the number of tissue banks in this region is expected to boost the market for bone grafts and substitutes in the coming years.

Application Insights

Spinal fusion dominated the market for bone grafts and substitutes and accounted for a revenue share of around 57.2% in 2019. The growth can be attributed to the increased number of spinal fusion procedures in this region. Moreover, the rising geriatric population, which is more susceptible to spondylolisthesis and degeneration of disc and increasing incidence of trauma due to road accidents and sports injuries are among the factors driving the growth of the spinal fusion segment.

The dental segment is expected to show the fastest growth in bone grafts and substitutes market over the forecast period. Increasing the use of bone grafts and substitutes in dentistry clubbed with a growing number of dental implant surgeries, are key factors driving the segment growth. Growing dental tourism in the Southeast Asia region is another key market influencer. For instance, in July 2019, the National Dental Centre Singapore, in collaboration with a local manufacturer, Osteopore, built a second-generation bioresorbable 3D-printed dental plug, which offers benefits such as shorter treatment time and convenience. The cost of each plug is expected to range from USD 100.0 to USD 400.0, thus the cost of the procedure would decrease to approx. USD 2,000.0.

Key Players and Market Share Insights

The stringent regulatory guidelines in some of the countries are also boosting the demand for domestic players in this region. For instance, China has released Order 650 (former Order 276), regulations for the supervision and administration of medical devices, to restrict foreign investment in the country, mainly to protect the domestic medical devices manufacturing industry. Geistlich is one of the major companies for xenograft products in Asia. In July 2019, Kuros Biosciences BV, the Dutch subsidiary of Kuros Biosciences, collaborated with Surgical Specialties, a subsidiary of the Paragon Care Group to distribute surgical products and MagnetOs bone graft products in Australia and New Zealand. Some of the prominent players in the Asia Pacific bone grafts and substitutes market include:

• Baxter

• DePuySynthes, Inc.

• Medtronic

• NuVasive, Inc.

• Orthofix Holdings, Inc.

• Smith & Nephew, Inc.

• Stryker Corporation

• Wright Medical

• Zimmer Biomet

• Geistlich Pharma AG

Asia Pacific Bone Grafts & Substitutes Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the Asia Pacific bone grafts and substitutes market report on the basis of product, application, and country:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Allografts

    • Demineralized Bone Matrix

    • Others

  • Synthetic

    • Ceramic

      • HAP

      • ß-TCP

      • α-TCP

      • bi-phasic calcium phosphates (BCP)

      • Others

    • Composite

    • Polymer

    • Bone Morphogenetic Proteins (BMP)

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Craniomaxillofacial

  • Dental

  • Foot and Ankle

  • Joint Reconstruction

  • Long Bone

  • Spinal Fusion

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Indonesia

    • Malaysia

    • Singapore

    • Philippines

    • Thailand

    • Vietnam