Strategic Analysis of the European Bone Graft Substitutes Market

Published by: Frost & Sullivan

Published: Jul. 30, 2004

Table of Contents

Abstract

Bone graft substitutes are quickly replacing autograft bones as the accepted standard for the treatment of musculoskeletal defects. The procedure significantly reduces the time required both in the operation theatre and for rehabilitation. Further, it is much cheaper and less morbid than traditional procedures such as autografts and allografts. However, as many surgeons continue to remain unconvinced of the potential benefits of using bone grafts, manufacturers are challenged to prove the clinical efficacy of this method by producing materials that are capable of providing osteoconductive and osteoinductive surfaces.

This research from Frost & Sullivan evaluates the current status and future prospects of the European bone graft substitute market in three main segments: synthetic bone graft substitutes, demineralised bone matrices (DBMs) and bone morphogenic proteins (BMPs). The study analyses the challenges and drivers in each segment, and this is likely to enable companies to formulate their future sales strategies. Additionally, it provides market revenue forecasts and geographical and technological trends in each segment.

Greater Competition Provides Participants with Expansion Opportunities

The growing number of orthopaedic surgicals is likely to result in an increased demand for synthetic bone graft substitutes, DBMs and BMPs. Each of these products varies in its biological and mechanical properties, ease of use and cost, and presents end users with a wide range of choices. This has culminated in greater competition among companies. Previously, tissue banks were the most threatening competitors, but most companies now have to contend with each other in the same market space.

"Traditionally, most companies offered only a particular type of product," says the analyst. "However, the situation is rapidly changing and several companies are now opting for "one stop shops" that promote a complete portfolio of bone graft substitute products." Though the market is fragmented, there is a lot of untapped potential and participants that are strategically positioned are likely to succeed.

Bone Graft Substitutes Find Acceptance in Varying Applications

The adoption rate of bone graft substitutes has been steadily growing in the European market. Uptake is dependent on several factors such as proof of efficacy, acceptance among physicians and patients and pricing issues. Gradually, as surgeons continue to replace traditional materials with substitutes, the market is anticipated to grow at a rate of about 14 per cent. "An increasing variety of synthetic bone grafts, combined with improved physician training and promising clinical outcomes is likely to result in a growing number of procedures utilising bone graft substitutes," says the analyst.

With the rising incidence of degenerative diseases of the lower back, the BMP and spinal applications market is expected to perform exceptionally well. BMP products in spinal fusions are likely to achieve marketing approval in 2006 and the industry is anticipating significant growth in this area. Currently, participants are contending with high costs and biocompatibility issues. However, growing awareness of the potential benefits of BMP is likely to boost R&D investments, further encouraging uptake.

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