Bone Graft Substitutes Market Rising in United States | Fortune Business Insights

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 The global bone graft substitutes market size is expected to reach USD 3.93 billion by 2027 while exhibiting a CAGR of 5.1% between 2020 and 2027. This is attributable to the increasing R&D initiatives and the growing adoption of synthetic bone graft substitutes globally. Fortune Business Insights in its latest report, titled, “Bone Graft Substitutes Market Size, Share & COVID-19 Impact Analysis, By Type (Autograft, Allograft, Demineralized Bone Matrix (DBM), Synthetic, and Xenograft), By Application (Spinal Fusion, Joint Reconstruction, Foot & Ankle, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027.”, observes that the market stood at USD 3.18 billion in 2019.

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North America

United States, Canada and Mexico

Europe

Germany, UK, France, Italy, Russia and Turkey etc.

Asia-Pacific

China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc.

South America

Brazil, Argentina, Columbia etc.

Middle East & Africa

Saudi Arabia, UAE, Egypt, Nigeria and South Africa

 Delayed Surgical Procedures to Foster Market Growth

The market was negatively affected during the COVID-19 pandemic due to delayed surgical procedures. The rapid spike in COVID-19 patients resulted in lack of hospital beds and equipment required for surgeries. Furthermore, reduction of patient visits may decline substitutes’ demand. However, lockdown relaxations enhanced hospital visits, thereby enhancing the product adoption. This factor fueled the market progress during the pandemic.

COVID-19 Impact: Market to Experience -12.6% Decline in 2020

The COVID-19 pandemic has led to the healthcare institutions focusing on treating people suffering from the disease. In contrast, several elective medical procedures and orthopedic surgeries have either been canceled or postponed. Based on our analysis, the market will exhibit a huge decline of -12.6% in 2020 due to the aforementioned reasons. However, the market will return to normalcy once the pandemic is over.

Bone grafting is a type of surgical procedure that aids in restoring a displaced bone with bone grafts or substitutes. It helps to efficiently fix bone fractures that may pose a significant health risk to the patient.

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