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.
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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).
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.
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.
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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
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