Bone Graft Substitutes - Global Pipeline Analysis,Competitive Landscape and Market Forecast to 2017
The Bone Graft Substitutes Market is Forecast to Reach $3.3 billion by 2017 The bone graft substitute market was valued at $1.9 billion in 2010 and is forecast to reach $3.3 billion in 2017, with a Compound Annual Growth Rate (CAGR) of 8.3%. The market is expected to be driven by an increase in orthopedic procedures, aging population, and increased preference for bone graft substitutes as replacements or complementary to autograft procedures. The bone graft substitute market is increasingly becoming a highly lucrative market for manufacturers, due to the significant growth opportunities. This has resulted in an increasing number of market players trying to enter this market, and the existing players strengthening their product portfolios. The US is the Largest Market for Bone Graft Substitutes The US bone graft substitute market was valued at $1.3 billion in 2010, and is forecast to reach $2.2 billion in 2017, with a CAGR of 7.4%. The growth in the market is driven by higher adoption of bone graft substitutes for orthopedic procedures, significant number of orthopedic procedures performed, and increase in reimbursement for orthopedic procedures. In July 2009, the Center for Medicare and Medicaid Services (CMS) announced their revised payment rates for hospitals treating Medicare patients, effective for cases discharged between October 1, 2009 and September 30, 2010, in their report “Medicare Program; Changes to the Hospital Inpatient Prospective Payment Systems
for Acute Care Hospitals and Fiscal Year 2010 Rates”. The CMS also upgraded the two-stage revision hip and knee surgery reimbursement from the classification MS-DRGs 480-482 or 495-497 to the higher paying MS-DRGs 463-465. This increase in the reimbursement rates is expected to increase the application of bone graft substitutes in orthopedic procedures Medtronic is the Leading Company in the Bone Graft Substitutes Market, with Sales Primarily Driven by its BMP Product Infuse In 2010, Medtronic with 44% share was the dominant player in the global bone graft substitutes market. Synthes, Wright Medical, Orthovita, Stryker and Osteotech also had significant presence in the market. Medtronic’s leadership can be attributed to its dominance of the Bone Morphogenetic Proteins (BMPs) market segment. The company has more than 90% share in the global BMP market, which was valued at $868m in 2010 Higher Number of Orthopedic Procedures Being Performed Globally is a Key Driving Factor for the Bone Graft Substitutes Market The number of orthopedic procedures performed globally is on the rise. It is estimated that out of the total number of orthopedic procedures performed globally, almost 18-20% involve usage of bone graft substitutes. The increase in the number of orthopedic procedures is a key driver for the increase in the use of bone graft substitutes.
The increasing population of elderly people worldwide clearly is an important driver for the global bone graft substitute market. Globally, the population of 65 and older is growing by 2% each year, which is considerably faster than the overall growth rate of the global population. For at least the next 25 years, the older population is expected to continue growing more rapidly than other age groups. For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=Bone-Graft-Substitutes-Global-Pipeline-Analysis-Competitive-Landscape-and-Market-Forecasts-to-2017&Title=Medical_Devices&ReportType=Industry_Report&CompanyID=ssrve GlobalData’s new report, “Bone Graft Substitutes – Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global bone graft substitutes market. The report provides market landscape, competitive landscape and market trends information on the bone graft substitutes market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts
For further details, please click or add the below link to your browser: http://www.globaldata.com/reportstore/Report.aspx?ID=Bone-Graft-Substitutes-Global-Pipeline-Analysis-Competitive-Landscape-and-Market-Forecasts-to-2017&Title=Medical_Devices&ReportType=Industry_Report&CompanyID=ssrve Visit our report store: http://www.globaldata.com/reportstore For more details contact: firstname.lastname@example.org North America: +1 646 395 5477 Europe: +44 207 753 4299 +44 1204 543 533 Asia Pacific: +91 40 6616 6782