April 20, 2024

The Latin America Bone Graft And Substitutes Market Is Driven By Growing Geriatric Population

The Latin America bone graft and substitutes market comprises products used to repair damaged or missing bone tissue. Bone grafts are implanted to fuse bones or replace missing bone during trauma, tumor removal, or reconstruction procedures. Bone grafting helps promote bone healing and restores the continuity of the patient’s skeleton. The market has witnessed increased demand for bone morphogenetic proteins and synthetic bone grafts owing to their osteoinductive and osteoconductive properties.

The Global 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 from 2024 to 2030.

Key Takeaways

Key players operating in the Latin America bone graft and substitutes are Low & Bonar PLC, Ahlstrom Group, E. I. du Pont de Nemours and Company (DuPont), 3M Company, Polymer Group Inc. Key players are focusing on new product launches and partnerships to strengthen their market position.

The growing geriatric population and increasing incidence of orthopedic diseases and trauma cases are fueling the demand for bone grafts in the region. As per estimates, over 25% of the Latin American population will be aged 60 years and above by 2050.

Major players are expanding their geographical presence in countries like Brazil, Mexico, and Argentina through acquisitions and distributor agreements. These countries offer high growth potential owing to their large population base and improving healthcare infrastructure.

Market key trends

One of the key trends gaining traction in the Latin America bone graft and substitutes market is the growing adoption of bone morphogenetic proteins (BMP). BMPs play a vital role in bone formation by attracting stem cells and triggering their differentiation into osteoblasts. Compared to autologous and allograft bone grafts, BMPs have superior osteoinductive properties and reduce the dependency on donor sites. Key players are focusing on developing novel BMP formulations that can be administered alternatively through injectable formulations for enhanced performance.

Porter’s Analysis

Threat of new entrants: The bone graft and substitutes market is capital intensive in nature which poses barriers for new players to enter the market.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes and their price sensitivity.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes.

Threat of new substitutes: There is a constant threat of new substitutes and technologies being introduced in the market.

Competitive rivalry: The market is dominated by few major players making the competition intense.

Geographical Regions

Brazil holds the major share in the Latin America Bone Graft And Substitutes Market , both in terms of value and volume. Factors such as rising geriatric population, increasing prevalence of orthopedic disorders and sports injuries, growing healthcare expenditure are driving the growth of the market in Brazil.

Mexico is expected to be the fastest growing region during the forecast period. This is attributed to increasing focus of key players on emerging economies, growing medical tourism, rising disposable income, expanding private healthcare sector in the country. Other factors supporting market growth are growing awareness about bone grafting procedures and availability of advanced treatment options.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it