by Bone grafts and substitutes are natural or synthetic tissues that help in bone reconstruction procedures by promoting new bone formation. They are increasingly being used in dental applications such as implants and periodontics, orthopedic surgeries to repair damaged or broken bones, and spine surgeries for fusion or repair of spinal discs.
The Latin America Bone Graft and Substitutes Market is estimated to be valued at US$ 559.36 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Demographical and lifestyle changes such as rising life expectancy and obesity have increased the occurrence of bone and joint disorders like osteoporosis, arthritis, and fractures in Latin America. This has boosted the demand for bone grafting procedures in the region. According to estimates by the International Osteoporosis Foundation, osteoporosis causes more than 8.9 million fractures annually worldwide, including 1.6 million hip fractures. Rising prevalence of such bone-related conditions is a major factor driving the Latin America bone graft and substitutes market.
SWOT Analysis
Strength: The Latin America bone graft and substitutes market has a growing geriatric population who are more prone to bone-related complications like fractures which increases the demand for bone grafting procedures.
Weakness: High costs associated with bone grafting surgeries act as a restraint for the growth of this market. Also, lack of reimbursement policies for bone grafting therapies hampers market growth.
Opportunity: Increasing occurrence of sports injuries and rising incidence of trauma cases propel the demand for bone grafting and bone graft substitutes. Favorable government policies supporting infrastructure development in the healthcare sector also boost market opportunities.
Threats: Alternative bone grafting therapies and the availability of traditional bone grafting methods are major threats to the growth of this market. Stringent regulations for new product approvals also restrict market expansion.
Key Takeaways
Latin America Bone Graft And Substitutes Market Size is estimated to be valued at US$ 559.36 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
The Latin America bone graft and substitutes market is dominated by Brazil which accounts for the largest market share owing to highly developed healthcare infrastructure and increasing medical tourism in the country. Mexico is also a major contributor to market growth due to growing aging population suffering from osteoporosis and road accidents.
Key players
Key players operating in the Latin America bone graft and substitutes market are Low & Bonar PLC, Ahlstrom Group, E. I. du Pont de Nemours and Company (DuPont), 3M Company, Polymer Group Inc., Milliken & Company Inc., Arville Textiles Ltd., Dickson-Constant, Baltex, and Freudenberg & Co. KG. These players are adopting strategies like new product launches, mergers, acquisitions and partnerships for leveraging market opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
