[2021] At CAGR of 5.6% | Latin America Bone Graft and Substitutes Market Size to Score Past US$ 182.9 Million by 2027 , Says Coherent Market Insights. Inc

Overview

Over the forecast period, the Latin America bone graft and substitutes market is expected to rise due to an increase in dental graft implant procedures, orthopedic operations, and trauma cases. Over the forecast period, a rapid rise in the usage of bone graft replacements such as porcelain, plastics, bioactive glass, and others is expected to significantly contribute to market growth. Bone graft and replacements are often used in spinal fusion, trauma, and dental grafting.

The Latin America bone graft and substitutes market was worth US$ 116.8 million in 2019, and is projected to develop at a CAGR of 5.6 percent from 2020 to 2027.

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Drivers

The Latin America bone graft and substitutes market is projected to increase as the number of orthopedic surgeries in the region rises.

As per the National Center for Biotechnology Information, there were about 13,017 THAs (total hip arthroplasties) and 7,076 TKAs (total knee arthroplasties) hospital admissions in Brazil in 2015. Furthermore, in 2015, the state of Sao Paulo reported a 49 percent geriatric population in the country's Southeast region, with 47.4 percent of TKAs and 53.8 percent of THAs.

Additionally, the demand for xenografts, allografts, and other synthetic bone grafts that are novel replacements for real bones is expected to support market expansion. Since it is manufactured using recombinant DNA technology, the use of hydroxyapatite in bone grafts without any chemical or biological agents impedes biological cycles such as osteoinduction, osteogenesis, and osteoconduction.

Country-Wise Analysis

Due to the country's rising healthcare industry, Colombia is expected to see substantial growth in the Latin American bone graft and substitutes market. Colombia has the safest and highest-quality healthcare infrastructure in Latin America, according to the WHO (World Health Organization). Colombia's healthcare sector is ranked 22nd out of 191 countries by the World Health Organization.

Due to the high prevalence of orthopedic and dental clinics focusing on dental implants using bone grafts, Peru is expected to see substantial growth in the Latin American bone graft and substitutes market. Smiles Peru is a large dental clinic in Lima, Peru that provides dental services such as dental implants, bone grafts, and reconstruction. The growing number of clinical trials in Chile is projected to propel the country's market forward. Mimetis Biomaterials S.L. started a clinical trial in Chile and Spain in November 2017 to see how effective bone grafting surgery or MimetikOss is in preserving the alveolar ridge before implant insertion. The report is expected to be completed in October of this year.

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Competitive Landscape

Major companies contributing in the Latin America bone graft and substitutes market are Stryker Corporation, Zimmer Biomet Holdings, Inc., Medtronic Plc., Exactech, Inc., RTI Surgical, Inc., Novabone Product, LLC, NuVasive, Inc., Ace Surgical Supply Co., Inc., LifeNet Health, Orthofix International N.V., and Johnson & Johnson.

Detailed Segmentation:

By Product Type:

Bone Graft

Allografts

Xenografts

Bone Graft Substitutes

Ceramics

Composites

Polymers

Bone Morphogenetics Proteins

Others

By Application:

Spinal Fusion

Dental Bone Grafts

Craniomaxillofacial

Joint Reconstruction

Trauma

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