The global Orthobiologics Market size was valued at USD 5.0 Billion in 2015 and is anticipated to reach USD 10.2 billion by 2025, with a CAGR of 7.5%. Orthobiologics are elements which the orthopedic surgeons use to heal the wounds more quickly. They are utilized for the healing of injured muscles, ligaments, tendons, and broken bones. They are made up of substances found in the human body itself. These elements found popularity owing to factor such as faster healing, quick recovery, and a decrease in the number of hospital visits. The orthobiologics market provides a huge number of opportunities for growth to its shareholders.
The global orthobiologics market is poised for growth owing to the increased levels of geriatric population, technological advancements, changing lifestyles and problems related to the musculoskeletal system. The increasing trends of musculoskeletal procedures are seen to be the biggest driver for the market. Establishing strategic partnerships for the purpose of marketing is also expected to boost the demand for the global orthobiologics market. Several merchants are forming strategic partnerships to diversify their businesses, grow their overall market share and spread out their product offerings. These type of strategic alliances help the organizations to align their technologies with one another’s inventive medical device range.
A growth in the global orthobiologics market is projected on account of the requirement for safer, more effective and modern orthopedic biologic treatment. The rise in the number of obesity and arthritis cases also fuels the demand for orthobiologics treatment. The bone graft procedure accounted to be the largest segment in the global orthobiologics market.
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The shifting preference to biological implants from mechanical implants is accelerating the growth of this market. Another important trend that is estimated to enhance the growth of the market over next eight years is the increase in funds to improve orthobiologics. Factors such as growing advances in technology, the prevalence of a huge number of chronic and unidentified diseases, initiatives by the government and rise in life expectation may favorably impact the market growth. Along with this, the rising incidences of injuries by sports & road accidents and growing awareness among athletes are also driving the demand for the market.
However, lack of clear reimbursement procedures and rigorous rules may create major hindrances for the orthobiologics demand in the market. The improvements in developing alternatives for pharmaceuticals, for making medical treatments more preventive than curative along with the country’s policy for decreasing the deficit in the budget is expected to negatively impact the global orthobiologics market. Furthermore, high costs for the procedure, lack of reliable clinical trial data and strict regulations for the approval of orthobiologics products may pose challenges to the market growth over the forecast period.
The global orthobiologics market has been segmented based on its applications and product types. On the basis of application, the market been classified into spinal surgery, joint replacement & reconstruction, and trauma surgery. On the basis of product types, the market has been segmented into bone graft substitutes, bone growth stimulators, and viscosupplements. The bone graft substitutes have further been segmented into demoralized bone matrix (DBM), bone morph genic proteins (BMP), bone allografts, and bone autographs. Additionally, viscosupplements has also been further segmented into single injection viscosupplements, 3-injection viscosupplements, and 5-injection viscosupplements.
Over the past few years, the viscosupplements segments held the largest market share for orthobiologics on account of huge demand for knee treatment procedures. It is a very effective pain killer. Viscosupplements are intra-articular injections made of hyaluronic acid which helps in the treatment of osteoarthritis.
North America held the majority of the global orthobiologics market in the recent past. The high demand in the market was sustained by increased prevalence of arthritis and obesity in the region, rising demand for the treatment of various diseases such as osteoarthritis and spinal injuries. However, over the next eight years, Asia-Pacific is projected to witness the highest rate of growth for orthobiologics market. This growth will be majorly driven by the Indian and Chinese market on account of a huge number of untapped patient population, economical cost, and medical tourism.
The major industry players operating in the global orthobiologics market include Stryker Corporation, Synthes, Inc., Biomet, Inc., DJO Global, Zimmer Holding, Inc., Medtronic, Inc., and Smith & Nephew, Bacterin International, Inc., DePuySynthes, Inc., Globus Medical, Inc., and Integra LifeSciences Corporation.
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Orthobiologics Product Outlook (Revenue, USD Billion, 2014 – 2025)
• Demineralized Bone Matrix(DBM)
• Bone Morphogenetic Protein (BMP)
• Synthetic Bone Substitutes
• Stem Cell Therapy
Orthobiologics Application Outlook (Revenue, USD Billion, 2014 – 2025)
• Spinal Fusion
• Trauma Repair
• Reconstructive Surgery
Orthobiologics End-use Outlook (Revenue, USD Billion, 2014 – 2025)
• Orthopedic Clinics
Orthobiologics Regional Outlook (Revenue, USD Billion, 2014 – 2025)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
• South Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/biotechnology
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