Bone Grafts and Substitutes Market Size and their Global Impact
The global bone grafts and substitutes market size was estimated at US$ 2.99 billion in 2023 and is projected to grow to US$ 5.95 billion by 2034, rising at a compound annual growth rate (CAGR) of 6.45% from 2024 to 2034.
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Major Key Insights
Bone Grafts and Substitutes Market: Bone Healing
Bone grafts and bone substitutes are increasingly used in revision arthroplasty, fracture nonunion, traumatology, spine surgery, tumor surgery, and infection. The bone grafts and substitutes market provides bone grafts and bone substitutes for all these procedures in order to stabilize fixation and restoration of alignment for proper reconstruction of bones. After blood, bone is the most commonly transplanted tissue, which suggests that the demand for these grafts is high in the healthcare industry.
As cases of bone cancer, bone infection, and spine injuries increase, the demand for bone substitutes and grafts is increasing. In the future, with evidence-based research, healthcare researchers and professionals will be able to develop high-quality grafts while ensuring the products are in an affordable range.
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How can AI Improve the Bone Grafts and Substitutes Market?
The above infographic showcases different AI models and how they are used in various steps involved in bone grafting. Each AI model has its unique ability, which helps develop high-quality bone grafts and bone substitutes in less time and with more accuracy.
Artificial Intelligence (AI) is significantly contributing to different segments of medical care, such as diagnostics, forecasting, patient monitoring, patient treatment, and so on. In the case of bone tissue engineering, AI plays a significant role in different steps. These steps include screening, modeling, optimization, parameter setting, synthesis, diagnostics, and developing solutions.
Implementation of AI significantly reduces treatment and recovery time. As rigorous validation and testing are done in bone tissue engineering, a large amount of data is generated, and a lot of clinical trials are conducted, which leads to difficulty in manual analysis, and the chances of human errors are increased. AI becomes an essential tool in such cases, and the accuracy of overall results is improved.
For instance,
Growing Cases of Traffic Accidents Drive the Market
Bone fractures are very common during accidents and have become a public health issue. According to the World Health Organization, every year, there are around 1.3 million deaths, and around 20 to 50 million people are injured due to road accidents. Traffic accidents were in 9th place when it came to deaths, and it is estimated that it will rise to 5th number by the year 2030.
This issue has promoted the growth of the bone grafts and substitutes market. During severe accidents, bones are crushed or heavily damaged, making it impossible for the body to heal and reconstruct the bone structure. In such cases, surgeons use new pieces of bone for proper healing.
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High Cost: Restrain the Bone Grafts and Substitutes Market
One of the restraining factors for the market’s growth is the high cost of bone grafts and substitutes. There are several reasons why the grafts are expensive. One of the reasons is the materials used in the making of the grafts and substitutes. Some of the materials used are of high quality but are in low amounts. Another reason for the high cost is the process of making the grafts and substitutes.
These products cannot be produced in bulk because different injuries and bone issues require different products, which are developed based on the screening and analysis of bone health. Due to the high cost, it is not possible for lower and middle-class people to afford these grafts. The high cost also restrains the growth of the market in developing and underdeveloped countries.
Minimally Invasive Surgeries is the Future of the Market
Bone grafting is one of the surgeries in which a lot of invasion occurs during analysis and bone grafting. It not only leads to long hospital stays and recovery time, but it can also lead to infections and infection-related shock syndrome. Hence, minimally invasive surgeries hold great potential for the growth of the bone grafts and substitutes market. As the name suggests, minimally invasive surgeries use minimal invasion or surgical opening compared to regular surgical openings.
For instance, the S.M.A.R.T. Bone Grafting Technique is a novel, minimally invasive procedure that can be used in bone grafting methods. This technique can provide better bone regeneration outcomes along with fewer complications, less pain, and less swelling. It will also reduce hospital stays, which will reduce the overall cost of care and ultimately lead to better patient outcomes and patient satisfaction.
Top Companies in the Bone Grafts and Substitutes Market
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