Latin America Bone Graft and Substitutes Market Insights
Increasing number of orthopedic surgeries, trauma cases, and dental graft implant procedures are expected to support growth of the Latin America bone graft and substitutes market over the forecast period. Rapid increase in adoption of bone graft substitutes such as ceramics, polymers, bioactive glass, and others is expected to significantly contribute to the market growth over the forecast period. Spinal fusion, trauma, and dental grafting are major applications of bone graft and substitutes.
The Latin America bone graft and substitutes market was valued at US$ 116.8 million in 2018, and is expected to witness a CAGR of 5.6% during the forecast period (2018– 2026).
Figure 1. Latin America Bone Graft and Substitutes Market Value Analysis (US$ Mn) and Y-o-Y Growth (%)
Source: Coherent Market Insights Analysis (2019)
Increasing number of orthopedic surgeries in Latin America is expected to boost growth of Latin America bone graft and substitutes market.
According to National Center for Biotechnology Information, in 2015, around 7,076 hospital admissions for total knee arthroplasties (TKAs) and 13,017 hospital admission for total hip arthroplasties (THAs) were reported in Brazil. Moreover, in 2015, the state of Sao Paulo registered 49% geriatric population in the Southeast region of the country, among which 47.4% accounted for TKAs and 53.8% for THAs.
Moreover, increasing demand for allografts, xenografts, and various other synthetic bone grafts that are innovative substitutes for real bones is expected to compliment the market growth. For instance, use of hydroxyapatite in bone grafts without any organic and biological agents obstructs the natural processes such as osteogenesis, osteoconduction, and osteoinduction, as they are made through recombinant DNA technology.
However, although bone grafting surgeries have provided life-sustaining options to a large number of patients suffering from various bone issues, the risks associated with surgery failure and graft failure can act as a potential barrier to growth of Latin America bone graft and substitutes market. For instance, according to Dental-Implants-01, the dental bone graft failure rates range from 5-10% on an average, as a result of infections and improper stabilization of the grafts. Therefore, failure in implantation may hinder growth of Latin America bone graft and substitutes market.
Latin America Bone Graft and Substitutes Market – Country-Wise Analysis
On the basis of country-wise segmentation, Latin America bone graft and substitutes market is divided into Colombia, Peru, Chile, and the rest of Latin America.
Colombia is projected to witness significant growth in Latin America bone graft and substitute market, owing to growing healthcare sector in the country. According to the World Health Organization (WHO), Colombia has the best and high quality healthcare system among all the Latin American countries. Moreover, WHO has ranked Colombia’s healthcare system at 22nd position out of all 191 countries across the world.
Peru is expected to witness significant growth in Latin America bone graft and substitutes market, owing to high presence of orthopedic and dental clinics focused on dental implants by using bone grafts. For instance, Smiles Peru is a major dental clinic located in Lima, Peru which offers dental treatments such as dental implants, bone graft, and regeneration.
Increasing number of clinical trial in Chile is expected propel growth of the market in the country. For instance, in November 2017, Mimetis Biomaterials S.L. initiated a clinical study in Chile and Spain to determine the efficacy of MimetikOss (bone grafting surgery) in an alveolar ridge preservation procedure followed by implant placement. The study is estimated to complete in October 2019.
Figure 2: Latin America Bone Graft and Substitutes Market Value (US$ Mn), By Country
Source: Coherent Market Insights Analysis (2019)
Latin America Bone Graft and Substitutes Market- Competitive Landscape
Key players operating in Latin America bone graft and substitutes market include, RTI Surgical, Inc., NuVasive, Inc., Exactech, Inc., Medtronic Plc., LifeNet Health, Zimmer Biomet Holdings, Inc., Stryker Corporation, Johnson & Johnson, Orthofix International N.V., Ace Surgical Supply Co., Inc., and Novabone Product, LLC
A bone graft repairs and rebuilds diseased bone and transplants bone tissues of the hips, knees, spine, and various other bones in the body. Moreover, it repairs bone loss caused by fractures and cancers. The body accepts the newly implanted graft and provides a framework for growth of new living bone. Bone grafts can be obtained either from the patient’s own body, a donor or can be entirely man-made from natural or synthetic materials. Autografts and allograft are the most common types of bone grafts. In allograft, bone is obtained from a deceased donor or a cadaver that is sterilized and stored in the tissue or bone banks. In autografts, bone is obtained from the patient’s own body parts such as ribs, pelvis, wrist, and hips. Furthermore, bone graft substitutes made up of materials such as ceramics and polymers are gaining preference. This is owing to osteoconductive and osteogenerative properties and easy availability of these grafts.
Latin America bone graft and substitutes market is expected to witness significant growth over the forecast period, owing to increasing adoption of new technologies by manufacturers to develop novel bone graft substitutes. For instance, in March 2015, Osiris Therapeutics, Inc., a company based in Columbia, Maryland, introduced BIO4. BIO4 is a viable bone matrix containing endogenous bone forming cells including mesenchymal stem cells, osteoprogenitor cells, osteoblasts, osteoinductive, and angiogenic growth factors. BIO4 has all four characteristics involved in bone repair and regeneration including osteoconductive, osteoinductive, osteogenic, and angiogenic characteristics. It is a safe alternative to bone autograft that minimizes the potential for harvest site co-morbidities.
Furthermore, demand for implants possessing enhanced porosity, mechanical strength as well as biocompatibility is increasing, which in turn is expected to drive the market growth. One such parameter can be fulfilled through the use of bioactive glass in the implants that helps to improve mechanical integrity of graft substitutes. Thus, market players focusing on biocompatibility of implants providing sufficient mechanical integrity, have potential opportunity to capitalize upon this area and generate significant revenue over the forecast period.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
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